RiverNorth/DoubleLine Strategic Income Fund Reopens

CHICAGO, Sept. 3, 2013 /PRNewswire/ -- RiverNorth Capital Management, LLC ("RiverNorth") announced today that the RiverNorth/DoubleLine Strategic Income Fund (Class I Symbol: RNSIX, Class R Symbol: RNDLX) reopened to new investors August 26, 2013.  The Fund has been closed to new investors since March 2012.

(Photo: http://photos.prnewswire.com/prnh/20130903/NY72094 )

RiverNorth's decision to reopen the open-end mutual fund comes after the recent sell-off in the closed-end fund market. In the wake of that re-pricing, RiverNorth has determined that inflows from new investors can be invested effectively and in a manner that is consistent with the Fund's objective.

"Opportunistic investing in closed-end funds during times of elevated investor fear and market inefficiency is a cornerstone of our strategy," said Patrick Galley, Chief Investment Officer of RiverNorth. "Increased volatility in the fixed-income market has caused fixed-income closed-end funds to trade at attractive discounts to their net asset values, an opportunity which we have not seen for quite some time."

The Fund seeks to achieve current income and overall total return. The Fund's portfolio managers are Patrick Galley; Stephen O'Neill, Portfolio Manager of RiverNorth; and Jeffrey Gundlach, CEO and Chief Investment Officer of DoubleLine Capital LP, sub-adviser to the Fund. 

"The beauty of the RiverNorth/DoubleLine strategy lies in the mixing of distinct opportunity sets," Mr. Gundlach said. "At the time of the Fund's inception, a prudent mix of mortgage securities seemed to offer an attractive risk-reward profile, playing to the strengths of DoubleLine. Today, the closed-end fund universe appears to have entered an environment for which the RiverNorth tactical closed-end fund strategy was designed to thrive."

The Fund actively allocates assets among three principal strategies: Tactical Closed-end Fund Income, managed by RiverNorth, and Opportunistic Income and Core Fixed Income, managed by DoubleLine. The Tactical Closed-end Fund Income Strategy, managed by Messrs. Galley and O'Neill, is designed to capitalize on the inefficiencies within the closed-end fund market.  The Opportunistic Income strategy invests in fixed income instruments which DoubleLine believes are priced to offer attractive risk-adjusted returns. The Core Fixed Income strategy blends bottom-up securities selection with active sector allocation across different sectors of fixed income universe.

RiverNorth will host a live webcast to discuss the reopening of the Fund on September 18, 2013.  The webcast will be hosted by two of the Fund's portfolio managers, Patrick Galley and Jeffrey Gundlach.  Visit www.rivernorthfunds.com/events/ to register.

About RiverNorth
RiverNorth is a leading investment management firm specializing in opportunistic investment strategies including the trading of closed-end funds and volatility.  RiverNorth typically favors under-followed, specialty asset classes where the potential to exploit inefficiencies is greatest. RiverNorth also serves as the investment adviser to RiverNorth Funds and the General Partner of multiple private investment partnerships.

RiverNorth's office can be reached at (312) 832-1440 or [email protected].

For more information, please visit www.rivernorthfunds.com.

About DoubleLine
DoubleLine Capital LP, a registered investment adviser under the Investment Advisers Act of 1940, acts as the investment sub-adviser for the Fund.  DoubleLine and its affiliates managed approximately $57 billion in assets held in closed- and open-end 1940 Act funds, separate accounts, hedge funds and UCITS as of the end of the second quarter, June 30, 2013.

DoubleLine's headquarters is in Los Angeles, CA.  Its offices can be reached by telephone at (213) 633-8200 or by e-mail at [email protected].

CONTACT:   
Jami Schlicher
Jennifer Connelly Public Relations
973-850-7309
[email protected]

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.

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.

An investment in the Fund involves risk, including loss of principal.

RVN000499  20140831

SOURCE RiverNorth Capital Management, LLC