CHICAGO, June 8 /PRNewswire/ -- RiverNorth Capital, a leading investment management firm specializing in quantitative and qualitative closed-end fund trading strategies, announced today that its flagship Core Opportunity Fund (RNCOX) has been added to the Envestnet platform as an available strategy. Advisors who have access to the Envestnet platform can access the RNCOX profile page for more information on the strategy. With this addition, RiverNorth is available to advisors and investors through more than 40 platforms across the industry.
"To our knowledge, RiverNorth Capital is the only firm in the country focused on opportunistically investing in closed-end funds through an open-end mutual fund," said RiverNorth CEO Brian Schmucker. "We are very pleased to be on the Envestnet platform. Our unique strategy provides exposure to the closed-end fund space through the familiar and transparent format of mutual fund."
The RiverNorth Core Opportunity Fund (RNCOX) is available on multiple investment platforms, including Ameriprise, ETrade, Fidelity, Schwab, Pershing, TD Ameritrade and Wells Fargo. A no-load, open-end mutual fund, RiverNorth Core Opportunity seeks to provide investors with a balance of long-term capital appreciation and income by allocating its assets among equities, bonds and short-term instruments. RiverNorth implements its tactical asset allocation primarily by investing in closed-end funds and exchange-traded funds.
"Closed-end funds represent a unique opportunity for today's investor. As pure-play specialists in this realm and one of the largest closed-end fund investors in the U.S., our team at RiverNorth looks forward to continuing to deliver the research and analysis required in the closed-end fund space," Mr. Schmucker said.
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 Advisor to RiverNorth Funds, and is the General Partner of two private investment entities.
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 current copy of the Fund's prospectus 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.
Asset allocation nor diversification do not ensure a profit or guarantee against loss.
An investment in an exchange-traded fund (ETF) generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded) that has the same investment objectives, strategies, and policies. The price of an ETF can fluctuate up or down, and the Fund could lose money investing in an ETF if the prices of the securities owned by the ETF go down. In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate, the shares are delisted from the exchange, or the activation of market-wide "circuit breakers" (which are tied to large decreases in stock prices) halts stock trading generally.
Alpha is a since inception statistic benchmarked against the S&P 500 based on monthly total returns. Alpha is a measure of a fund's actual returns and expected performance, given its level of risk (as measured by beta).
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SOURCE RiverNorth Capital Management, LLC