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RiverPark Funds closes Short Term High Yield Fund to new investors

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RiverPark Funds intends to close the RiverPark Short Term High Yield Fund to new investors at the close of business on 21 June 2013.

 
The fund will remain open to new investments from its current shareholders and from financial advisers with existing clients in the fund. The closing does not affect other RiverPark funds.
 
“We are taking the steps necessary to protect the integrity of the Fund’s investment strategy by limiting its growth,” says Morty Schaja, chief executive officer of RiverPark Funds. “Closing the fund now will allow existing shareholders to continue to invest in the fund.”
 
The RiverPark Short Term High Yield Fund currently has just over USD700m in assets under management and is approaching its planned capacity. The fund is sub-advised by Cohanzick Management of Pleasantville, New York. RiverPark recently filed a registration statement for a second fund that will be sub-advised by Cohanzick Management, RiverPark Strategic Income Fund.

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