RiverNorth/DoubleLine Strategic Income Fund Marks One-year Anniversary With Top Percentile Performance

CHICAGO, Jan. 18, 2012 /PRNewswire/ -- RiverNorth, a leading investment management firm specializing in opportunistic investment strategies, has announced that the RiverNorth/DoubleLine Strategic Income Fund (Class I Symbol: RNSIX, Class R Symbol: RNDLX) marked the one-year anniversary of its launch on December 30, 2011.

(Logo: http://photos.prnewswire.com/prnh/20120118/NY38010LOGO )

During its first year, the RiverNorth/DoubleLine Strategic Income Fund raised $675 million, and RNSIX and RNDLX delivered an 11.20 and 11.04 percent return for the 1-year period ending December 31, 2011, respectively(1). RNSIX and RNDLX were the No. 3 and No. 4 top-performing funds, respectively for the past year as of December 31, 2011 in Morningstar's Multisector Bond Category, which includes 250 funds.

The Fund combines RiverNorth's deep experience in investing in closed-end funds with the strategies of notable bond manager Jeffrey Gundlach, Chief Executive Officer and Chief Investment Officer of DoubleLine Capital LP, the Fund's sub-advisor, who serves as one of the Fund's portfolio managers. RiverNorth teamed up with DoubleLine one year ago to launch the Fund, which is designed to capitalize on market inefficiencies in both closed-end funds and the fixed-income markets. The Fund has proven historically to offer investors competitive, risk-adjusted returns through three complementary strategies.

"We launched the RiverNorth/DoubleLine Strategic Income Fund, in partnership with one of the best fixed-income managers, to create a truly unique opportunistic fixed income solution," said Patrick Galley, Chief Investment Officer of RiverNorth. "We are pleased with the Fund's performance during its first year and will continue to work with our colleagues at DoubleLine to focus on delivering competitive risk-adjusted fixed income returns to our clients."

For more information, please visit www.rivernorthfunds.com. For media inquiries, please contact James Doyle at 973-850-7308 or [email protected].

SEE IMPORTANT DISCLOSURES BELOW.

About RiverNorth

RiverNorth Capital Management, LLC, is a leading investment management firm specializing in opportunistic investment strategies. As one of the nation's largest closed-end fund investors, RiverNorth makes quantitative and qualitative closed-end fund strategies available to advisors, institutions and individual investors. In addition to the RiverNorth/DoubleLine Strategic Income Fund (RNSIX/RNDLX), RiverNorth is also the Investment Adviser to the RiverNorth Core Opportunity Fund (RNCOX), launched on December 27, 2006, and is the General Partner of multiple private investment partnerships. RiverNorth's headquarters is in Chicago.  Its offices can be reached by telephone at 312-832-1440 or by e-mail at [email protected].

Past performance is no guarantee of future results. Current performance may be lower or higher than the performance quoted.  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.  You can obtain performance data current to the most recent month end by calling (888) 848-7569 or www.rivernorthfunds.com.  Total return measures net investment income and capital gain or loss from portfolio investments.  All performance shown assumes reinvestment of dividends and capital gains distributions.

The Total Annual Operating Expense for the funds as disclosed in the prospectus: RNSIX (1.20%), RNDLX (1.45%.  The Adviser has contractually agreed to defer the collection of fees and/or reimburse expenses, but only to the extent necessary to limit Total Annual Fund Operating Expenses (excluding brokerage fees and commissions; borrowing costs, such as (a) interest and (b) dividends on securities sold short; taxes; indirect expenses incurred by the Underlying Funds in which the funds invest; and extraordinary expenses) to .95% (RNSIX) and 1.20% (RNDLX) of the average daily net assets of the funds through January 31, 2013.

(2) The Barclays Capital U.S. Aggregate Bond Index is an unmanaged index of investment-grade fixed-rate debt issues with maturities of at least one year.  The index cannot be invested in directly and does not reflect fees and expenses.

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 by calling 1-888-848-7569.

Important Risk Disclosure: 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.

©2012 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. Morningstar calculates a Morningstar Ranking 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 RiverNorth/DoubleLine Strategic Income Fund (RNSIX/RNDLX) was ranked against 250 U.S.-domiciled Multisector Bond funds in the last year.  Past performance is no guarantee of future results. 

Morningstar Percentile Ranking is for the I share class only, other classes may have different performance characteristics.

There is no assurance that this investment process will consistently lead to successful investing.

Distributed by ALPS Distributors, Inc., Denver, CO, Member FINRA.

CONTACT:
James Doyle
JCPR
973-850-7308
[email protected]

SOURCE RiverNorth