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RiverNorth Core Opportunity Fund closes to new investors


RiverNorth Capital, a specialist in quantitative and qualitative closed-end fund trading strategies, is closing its Core Opportunity Fund (RNCOX) to new investors as of July 1, 2011. Current investors may still purchase shares.

"At RiverNorth, we take fund capacity very seriously," says said Patrick Galley (pictured), President of RiverNorth Funds. "Our decision to close the Core Opportunity Fund to new investors reflects our commitment to preventing a fund’s assets from exceeding a level where they would alter the fund’s investment strategy."

The RiverNorth Core Opportunity Fund (RNCOX) is an open-end mutual fund focused on closed-end fund investing. Launched on December 27, 2006, the fund offers diversification to multiple asset classes plus tactical allocation in a single investment. As of March 31, 2011, the fund has a five-star rating from Morningstar and is in the top 1% for the three-year period among 932 moderate allocation funds.

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