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RiverNorth Factsheets Updated, thru Q3

heezsafe
in Fund Discussions
Following Ted's soft-glove caution re. "style drift" on the board, I splashed some cold water to the face, gave myself a two-palm cheek slap, and recommitted to purpose.

Consistent with this spiritual reawakening, I now link to updates to RiverNorth Q3 factsheets, about which I just received notice. I've been in RNDLX for quite awhile; it continues to do well, and brings a lot to the table that you just cannot get anywhere else, within a MF wrapper. (e.r. has been dropped to 1.15%).

If you're a bit starved for eye candy, you might check out their redesigned website, if nothing else. oo-la-la. (frankly, I thought what they had was fine; the new layout is .... a bit much!)

http://www.rivernorth.com/literature/?tid=rnqfu2014q3&utm_source=RiverNorth+Primary&utm_campaign=4ef69ba804-2014_Q3_Quarterly_Update10_22_2014&utm_medium=email&utm_term=0_a7ebf79ed0-4ef69ba804-408079161

Comments

  • JohnChisum
    What is that picture on the front page all about? Looks like someone getting a ticket. It's pretty crowded viewing on a iPhone.

    Yea I know, style drift.
  • heezsafe
    I dunno. It's like they've gone all-in with a "Chicago Pride" theme to their redesign. Maybe the Chicago Chamber of Commerce gave them some stock video gifs to use as they wished, and they weren't--- shall we say--- "tightly edited" for artistic merit.:)
  • JohnChisum
    For whatever reason, very few fund companies have good or excellent websites.
  • BenWPBenWP
    Pretty spiffy, you ask me…
  • Old_JoeOld_Joe
    @heezsafe

    Hi there- Are you sure about the 1.15% ER? The reason that I ask is that when I downloaded the fact sheet, it does show 1.15 for RNSIX (the Institutional Class) but still 1.4% for RNSIX (R Class).

    Thanks- OJ
  • AndyJ
    edited October 2014
    Hi OJ, here's what the fact sheet says. Gross is 1.40 and net is 1.14 for the retail shares. Cheers, AJ

    Class R (Retail)
    NASDAQ Symbol: RNDLX
    CUSIP Number: 76881N301
    Minimum Initial Investment: $5,000
    Minimum IRA Initial Investment: $1,000
    Annualized Net Expense Ratio Annual Report: 1.14%
    Gross Expense Ratio: 1.40%
  • Old_JoeOld_Joe
    Hi AJ- thanks for the info... I didn't read down into that small print. That's pretty cool- usually the small print is where the bad news and "take-aways" are buried.

    Regards- OJ
  • davidrmorandavidrmoran
    I looked at RGHVX lagging performance in each of as many dip periods as I could, granular and higher-level, brief and less brief, and have decided to bail, fwiw (and it's not included in the above website obvs).

    They once wrote

    \\\ Objective and strategy
    \\\ RiverPark/Gargoyle Hedged Value seeks long-term capital appreciation while exposing investors to less risk than broad stock market indices. ... In theory, the mix will allow investors to enjoy most of the market’s upside while being *buffered for a fair chunk of its downside.*

    Emphasis mine. Fail is my judgment. Something strange going on consistently in the implementation.

    (Now if someone can explain why DSENX has done well through recent volatility.)
  • AndyJ
    davidrmoran said:

    (Now if someone can explain why DSENX has done well through recent volatility.)

    I dunno enough about how they run it to know, but I'm mildly interested too. I s'pose the bond sleeve helps in stock selloffs.

    Is there any way to keep up with the sectors they're invested in? Utes, real estate, and staples have had the only thing approaching momentum very recently, and maybe they're also lower on CAPE so those sectors made the team for the time being? If Dbl reconfigures the sectors often, maybe they were on top of it.
  • BenWPBenWP
    I agree with davidmoran. I also dumped RGHVX.
  • VintageFreakVintageFreak
    I think RGHVX is RiverPark not RiverNorth. Not sure why we are comparing here. RNBWX also is different than RGHVX.

    Agree nothing compelling about RGHVX. In general not sure I'm on board with hedged equity funds while I have no issue with managers hedging prudently, not all the time. FVALX is my holding in this "space".

    However, again, why did we bring RGHVX into conversation on RiverNorth?
  • davidrmorandavidrmoran
    my bad, totally
  • 00BY
    Why did they open an institutional share class for RiverNorth Core Opportunity Fund Class I (RNCIX)? They will accept more money from institutional investors in $5 million increments, but not from individual investors? I guess the strategy hasn't reached capacity yet.

    "With the launch of this institutional share class for the RiverNorth Core Opportunity Fund, the firm feels confident that it is attracting the right kind of investors and that the integrity of the strategy will be maintained for everyone.”

    That's too bad that RiverNorth doesn't think individual investors are the right kind of investors for them.
  • fundalarmfundalarm
    They think that institutions are more patient money and wouldn't bail out at the first sign of volatility. I aint sure that's the correct assumption. It does take institutions longer to make a move, but the results are often similar. Also, fewer larger accounts are easier to service than a ton of small accounts. So from the margins and profitability point of view they are doing the right thing.
  • Old_JoeOld_Joe
    "I aint sure" !

    JR, you're beginning to sound right at home here. Good for you! :-)
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