SOURCE: RiverNorth Capital

January 12, 2010 09:00 ET

RiverNorth Ranks #1 in Category for Three-Year Performance

Core Opportunity Fund Reaches 3rd Anniversary and Receives 5-Star Morningstar Ranking

CHICAGO, IL--(Marketwire - January 12, 2010) - RiverNorth Capital Management, LLC, a leading investment management firm that specializes in closed-end fund investing, is pleased to announce that its flagship Core Opportunity Fund (RNCOX) is the No. 1 mutual fund in its category for three-year annualized performance as of Dec. 31, 2009, according to Morningstar. In addition, the Fund received a 5-Star ranking from Morningstar.

"As the only firm in the country focused exclusively on closed-end fund investing through an open-end mutual fund, RiverNorth takes a unique and focused approach to investment management," said Patrick Galley, Chief Investment Officer and Portfolio Manager for RiverNorth Capital. "We are incredibly excited to reach our three-year anniversary as the best performer in our category and with a strong overall ranking from Morningstar."

The RiverNorth Core Opportunity Fund (RNCOX) is the only open-end mutual fund focused on closed-end fund investing. It offers diversification to multiple asset classes plus tactical allocation in a single investment. For the three year period ending Dec. 31, the Fund returned 5.76% annually, making it the best performer out of 953 funds categorized as Moderate Allocation by Morningstar. In addition, the Fund ranks in the top 2% of its category by one-year returns.

"Amid today's volatility, RiverNorth offers investors and their advisors an alternative to traditional equity and fixed-income investing," Mr. Galley continued. "We provide a simple way to get closed-end fund exposure. By providing all the analysis, research and execution, RiverNorth makes it easier for advisors who don't have the time, resources and expertise to trade closed-end fund themselves."

To request more information or to speak with Patrick Galley, please contact Katrine Winther-Olesen at (973) 400-1341 or katrine@jcprinc.com.

About RiverNorth Capital / www.rivernorth.com

RiverNorth Capital Management, LLC, is a leading investment management firm specializing in closed-end fund investing. As one of the largest closed-end fund investors, RiverNorth makes sophisticated investment strategies available to advisors, institutions and individual investors. RiverNorth's flagship Core Opportunity Fund (RNCOX) is the only open-end mutual fund focused on closed-end fund investing. Its unique strategy provides diversification to multiple asset classes plus the potential for alpha generation. By opportunistically investing in the inefficient closed-end fund market, RiverNorth offers investors an alternative way to pursue excess returns and superior exposure to the closed-end funds space.

Investors should consider the investment objective, management fees, risks, charges and expenses of the investment company carefully before investing. The Prospectus contains this and other information about the Fund. For a current Prospectus, call toll-free (888) 848-7569, or go to www.rivernorthfunds.com. Please read the Prospectus carefully before you invest.

© 2010 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. The RiverNorth Core Opportunity Fund (RNCOX) was rated against the following numbers of U.S.-domiciled Moderate Allocation funds over the following time periods: 953 funds in the last three years, With respect to these Moderate Allocation funds, The RiverNorth Core Opportunity Fund (RNCOX) received a Morningstar Rating of 5 stars for the three year period. Past performance is no guarantee of future results.

Contact Information

  • CONTACT:
    Katrine Winther-Olesen
    JCPR, Inc.
    (973) 400-1341
    Email Contact