CHICAGO, April 29, 2015 /PRNewswire/ -- RiverNorth, a leading investment management firm that specializes in opportunistic strategies, is pleased to announce that its flagship RiverNorth Core Opportunity Fund (RNCOX) is the five-year winner of the 2015 United States Lipper Award in the Alternative Global Macro Funds Category. Each year, the Lipper U.S. Fund Awards are given on an objective performance-based methodology.
"We are pleased with the Fund's historical performance. Our track record was built on trading closed-end funds in the secondary market," said Portfolio Manager Steve O'Neill. "When discounts1 are wide, as they are today, we believe we have more opportunity to generate alpha2 for our shareholders. "
The $810 million3 RiverNorth Core Opportunity Fund is an open-end mutual fund focusing on opportunistically investing in closed-end funds. It offers investors a balanced approach and diversification to multiple asset classes in a single investment.
"Our focus on delivering strong, consistent risk-adjusted returns for our shareholders is RiverNorth's core objective," said Patrick Galley, Chief Investment Officer and Portfolio Manager of RiverNorth. "On behalf of RiverNorth, we are honored to receive this recognition from Lipper."
For more information, please visit us at www.rivernorth.com
RiverNorth Capital Management, LLC is a Chicago-based investment management firm founded in 2000. RiverNorth specializes in opportunistic investment strategies including the trading of closed-end funds and volatility. RiverNorth is the investment adviser to RiverNorth Funds and the General Partner of multiple private investment partnerships.
RiverNorth Capital Management, LLC, 325 N. LaSalle St. Suite 645, Chicago, IL 60654
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 prospectuses here or by calling 888.848.7569.
Distributed by ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, CO 80203 (Member FINRA). Shares of the Fund are not available for sale outside the United States.
ALPS Distributors, Inc. is not affiliated with RiverNorth Capital Management, LLC.
An investment in the Fund involves risk, including loss of principal. Please read the prospectus for a detailed description of Fund risks.
Past performance does not guarantee future results. Diversification does not ensure a profit or guarantee against loss.
1The price at which a closed-end fund trades often varies from its NAV. Some funds have market prices below their net asset values - referred to as a discount. Conversely, some funds have market prices above their net asset values - referred to as a premium.
2Alpha is a measure of performance on a risk-adjusted basis. The excess return of a fund relative to the return of the benchmark index is a fund's alpha.
3Fund assets under management (AUM) as of 3.31.2015.
Not FDIC Insured | No Bank Guarantee | May Lose Value
The Lipper Fund Awards program honors funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers, based on Lipper's proprietary performance-based methodology. The Lipper Fund Awards take place in 23 countries in Asia, Europe, MENA, and the Americas. Lipper designates award-winning funds in most individual classifications for the three-, five-, and ten-year periods. There are 30 funds in the 2015 United States Five-year Alternative Global Macro Funds category.
©2015 RiverNorth Capital Management, LLC. All rights reserved.
RiverNorth® and the RN Logo are registered trademarks of RiverNorth Capital Management, LLC.
SOURCE RiverNorth Capital Management, LLC