RiverNorth/DoubleLine Strategic Income Fund (RNSIX/RNDLX) Closes to New Investors

CHICAGO, Feb. 22, 2012 /PRNewswire/ -- RiverNorth Capital Management, LLC, a leading investment management firm specializing in opportunistic investment strategies, announced today that the RiverNorth/DoubleLine Strategic Income Fund (Class I Symbol: RNSIX, Class R Symbol: RNDLX) will be closed to new investors as of March 30, 2012. Current investors and financial intermediaries who have allocated on behalf of their clients may still continue to purchase shares after March 30th.

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The Fund combines RiverNorth's deep experience in trading closed-end funds with the fixed-income strategies of noted bond manager Jeffrey Gundlach, who serves as one of the Fund's portfolio managers, with the goal of capitalizing on the inefficiencies in both markets.  The Fund marked the one-year anniversary of its launch on December 30, 2011.

"The fact that the RiverNorth/DoubleLine Strategic Income Fund has reached its capacity in just over one year is quite an accomplishment, especially in the current market environment," said Patrick Galley, Chief Investment Officer of RiverNorth. "We are committed to ensuring that our fund's assets don't exceed a level where they would alter or impact the Fund's investment strategy, which was our primary driver in deciding to soft-close the fund."

As the adviser to the Fund, RiverNorth allocates the Fund's assets among three principal strategies: tactical closed-end fund income strategy, core fixed income strategy, and opportunistic income strategy. RiverNorth manages the tactical closed-end fund income strategy while DoubleLine manages the core fixed income and opportunistic income strategies.

During its first year of operation, the Fund raised $675 million. Furthermore, fund assets have grown to $887 million as of February 21, 2012. RNSIX and RNDLX were the No. 3 and No. 4 top-performing funds, respectively, for the previous year as of December 31, 2011 in Morningstar's Multisector Bond Category, which consists of 250 funds.

For more information, please visit www.rivernorthfunds.com. For media inquiries, please contact Jami Schlicher at 973-850-7309 or [email protected].

About RiverNorth
RiverNorth Capital Management, LLC, is a leading investment management firm specializing in opportunistic investment strategies. 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.

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.

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SOURCE RiverNorth Capital Management, LLC