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RiverPark introduces RiverPark Long/Short Opportunity Fund

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RiverPark Advisors, a New York-based investment advisory company, has introduced the RiverPark Long/Short Opportunity Fund (RLSFX), a new open-end mutual fund that seeks to provide long-term capital appreciation while protecting against downside risk.

The new fund is a conversion of an existing hedge fund launched by RiverPark in October 2009, and will be managed by Mitch Rubin, RiverPark’s Chief Investment Officer, and the portfolio manager of the hedge fund since its inception.

The RiverPark Long/Short Opportunity Fund seeks to identify dominant secular, economic and demographic changes in society, and to invest in those industries and companies most affected, positively or negatively, by these changes. On the long side, the Fund employs a fundamental research approach in seeking to identify those companies that it believes have strong growth prospects, best in class management teams, strong pricing power, large market opportunities, a high return on capital, and attractive valuations. On the short side, the Fund seeks to identify those companies it believes have low quality management teams, a history of poor capital allocation, and that are losing competitive or pricing advantages.

“Many individuals believe that managing volatility and protecting against downside risk should be an important component of a fund’s investment objective,” says RiverPark’s Rubin. “At the same time, maintaining exposure to the equity markets is important for achieving longer-term financial goals. The RiverPark Long/Short Opportunity Fund is designed to help investors benefit from the potential upside of equities while providing some protection in a macro environment in which there remain many uncertainties.”

The RiverPark Long/Short Opportunity Fund will invest primarily in the securities of US companies, but may invest up to 15 per cent of its asset in foreign issuers. It will invest in companies across the capitalisation spectrum and may employ leverage. In addition, the Fund will use swaps, options, and other financial instruments in pursuing its objective.

The RiverPark Long/Short Opportunity Fund is being offered in two share classes – Retail (RLSFX) and Institutional (RLSIX), each with an expense ratio, not including investment related expenses that will be capped at 2.00% and 1.85%, respectively. It will be available starting March 30, 2012 through Charles Schwab, Fidelity, and Pershing.
 

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