SilverPepper Merger Arbitrage Instl (SPAIX)
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SilverPepper Merger Arbitrage Instl
MILWAUKEE WI 53233
803 W. MICHIGAN ST.
Investment Managers Ser Tr(SilverPepper)
Management information
Steven R. Gerbel,Lead manager since 19 April 2015
Mr. Gerbel is the Founder, Chief Investment Officer and Managing Member of Chicago Capital and has many years of experience managing hedge funds focused on merger arbitrage and convertible arbitrage markets. Prior to founding Chicago Capital in 1997, Mr. Gerbel was a general partner at First Capital Management, LP, a Chicago-based hedge fund focused on merger and convertible arbitrage, value investing, and distressed markets. Prior to joining First Capital Management, Mr. Gerbel was a trader with Mid-American Commodities Exchange at the Chicago Board of Trade. Mr. Gerbel earned a B.S. in Economics from DePaul University.
Morningstar style box
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Morningstar category
While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. Where necessary, we may change a category assignment based on recent changes to the portfolio.
Fund overview
CategoryEvent Driven
Fund familySilverPepper
Net assets9.63M
YTD return4.32%
Yield0.00%
Morningstar ratingN/A1
Inception date30 Oct 2013
Fund operations
Last dividendN/A
Last cap gain-1.00
Holdings turnover381.00%
Average for categoryN/A
Fees and expenses
ExpenseSPAIXCategory average
Annual report expense ratio (net)4.75%1.90%
Prospectus net expense ratio4.75%N/A
Prospectus gross expense ratio6.28%N/A
Max 12b1 feeN/AN/A
Max front end sales loadN/A4.94%
Max deferred sales loadN/A1.00%
3-yr expense projection0N/A
5-yr expense projection0N/A
10-yr expense projection0N/A
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