RiverPark Short Term High Yield (RPHYX)

The fund:

RiverPark Short Term High Yield (RPHYX)RiverPark Short Term High Yield (RPHYX)

Manager:

David Sherman of Cohanzick Management, LLC

The call:

For about an hour on September 13th, David Sherman of Cohanzick Management, LLC, manager of RiverPark Short Term High Yield (RPHYX) fielded questions from Observer readers about his fund’s strategy and its risk-return profile. Somewhere between 40-50 people signed up for the RiverPark call.

Highlights include:

  1. they expect to be able to return 300 – 400 basis points more than a money market fund
  2. they manage to minimize risk, not maximize return
  3. they do not anticipate significant competition for these assets
  4. expenses are unlikely to move much
  5. NAV volatility is more apparent than real – by any measure other than a money market, it’s a very steady NAV. 

RiverPark Short Term High Yield (RPHYX)The conference call (When you click on the link, the file will load in your browser and will begin playing after it’s partially loaded.)

The profile:

People are starting to catch on to RPHYX’s discrete and substantial charms.  Both the fund’s name and Morningstar’s assignment of it to the “high yield” peer group threw off some potential investors.  To be clear: this is not a high yield bond fund in any sense that you’d recognize.

The Mutual Fund Observer profile of RPHYX, updated October, 2012

RiverPark Short Term High Yield (RPHYX)The audio profile

Web:

RiverPark Funds Website

2013 Q3 Report

RPHYX Fact Sheet

Fund Focus: Resources from other trusted sources

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