RiverNorth Announces Strategic Partnership With DoubleLine

Oct 14, 2010, 17:17 ET from RiverNorth Capital

CHICAGO, Oct. 14 /PRNewswire/ -- RiverNorth Capital, a leading investment management firm specializing in quantitative and qualitative closed-end fund trading strategies, announced it has formed a strategic partnership with DoubleLine Capital LP through the registration of a new fund in the RiverNorth Funds.

RiverNorth Funds has filed a registration statement for the RiverNorth/DoubleLine Strategic Income Fund, a mutual fund which will combine RiverNorth's investment capabilities in closed-end funds with DoubleLine's management capabilities in fixed income.  The Fund is expected to launch in late December 2010.

"We are very excited to partner with DoubleLine and its highly regarded management team led by Jeffrey Gundlach and Philip Barach," said Patrick Galley, RiverNorth's Chief Investment Officer. "DoubleLine brings a proven focus on its objective of delivering superior, risk-adjusted fixed income returns, and a depth of experience in investment management across a wide array of distinct strategies."

The RiverNorth/DoubleLine Strategic Income Fund's investment objective is current income and overall total return. The Fund's portfolio managers are Mr. Galley; Stephen O'Neill, Portfolio Manager of RiverNorth; and Jeffrey Gundlach, CEO and Chief Investment Officer of DoubleLine.  

"The DoubleLine investment team has managed fixed income portfolios for over two decades. We are proud to collaborate with RiverNorth, whose record of seeking long-term capital appreciation and income through closed-end fund investing represents a compelling match for our risk-adjusted return objectives," said Mr. Gundlach. "We look forward to combining our complementary approaches to investment management."

For more information, please visit www.rivernorth.com and www.doubleline.com. To request more information about RiverNorth Capital, please contact Amiee Watts at 973-784-0025 or Amiee@jcprinc.com.

About RiverNorth Capital  

RiverNorth Capital Management, LLC, is a leading investment management firm specializing in closed-end funds. As one of the nation's largest closed-end fund investors, RiverNorth makes quantitative and qualitative closed-end fund trading strategies available to advisors, institutions and individual investors. RiverNorth Capital is the Investment Adviser to RiverNorth Funds, and is the General Partner of multiple private investment partnerships.  RiverNorth's headquarters is in Chicago, IL.  Its offices can be reached by telephone at (312) 832-0418 or by email at info@rivernorth.com

About DoubleLine Capital LP

DoubleLine Capital LP is a fixed income investment management firm and a registered investment adviser under the Investment Advisers Act of 1940. The firm is majority employee-owned with CEO Jeffrey Gundlach and President Philip Barach holding a combined controlling interest in the firm. DoubleLine's headquarters is in Los Angeles, CA. Its offices can be reached by telephone at (213) 633-8200 or by e-mail at info@doubleline.com.

You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing.  The Fund's prospectus contains this and other information about the Fund, and should be read carefully before investing.  You may obtain a copy of the Fund's prospectus when it becomes effective by calling 1-888-848-7569.  Past performance is no guarantee of future results.  Performance data current to the most recent month end may be obtained by calling 1-888-848-7569. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.

Investments in closed end funds are subject to investment risk, including the possible loss of the entire principal amount that you invest.  The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. At any point in time an investment may be worth less than the original investment, even after considering the reinvestment of fund dividends and distributions. Closed-end funds also carry price risk, or the risk that shares may trade at prices different from their net asset values.

Distributed by Unified Financial Securities, Inc., Indianapolis, IN, Member FINRA.

SOURCE RiverNorth Capital