RiverPark Strategic Income Fund (Inst)
Fund Overview
The Fund seeks high current income and capital appreciation consistent with the preservation of capital.
WHY INVEST IN THIS FUND
The RiverPark Strategic Income Fund (RSIIX) seeks high current income and capital appreciation consistent with the preservation of capital. The Fund is managed by Portfolio Manager, David K. Sherman.
The Fund focuses on constructing a bottom-up, diversified portfolio primarily in investment grade and high yield corporate debt, preferred stock, convertible bonds, bank loans, and income producing equities, with a target duration of 2.5 to 4.
The Fund will allocate assets strategically into investment grade or other defensive securities during times where we believe spreads are narrow and attractively priced high yield opportunities are limited, and conversely, may invest all of its assets in high yield securities when spreads are wide and offer potential attractive returns. In both cases, CrossingBridge seeks to invest primarily in debt where the enterprise value of the issuer exceeds the value of the issuer’s senior and equally ranked debt. The Fund may also make special situations investments in which a company is overleveraged, industry challenged, or faced with a company-specific issue. Ultimately, we believe we can be complementary and accretive to fixed income portfolios by remaining relatively small & capacity constrained, by investing opportunistically, and not focusing on tracking or beating a benchmark.
| Inception Date | 9/30/2013 |
| Ticker | RSIIX |
| CUSIP | 89834G679 |
| Distribution Frequency | Monthly |
| Gross Expense Ratio | 0.98% |
| Net Expense Ratio | 0.94% |
| SEC Yield Subsidized (as of 10/31/2024) | 7.52% |
| SEC Yield Unsubsidized (as of 10/31/2024) | 7.52% |
| Primary Benchmark | ICE BofA U.S. High Yield Index |
Fund Managers
DAVID K. SHERMAN
Founder & CIO
SPENCER ROLFE
Assistant Portfolio Manager
| Month-End as of October 31, 2024 | Annualized | ||||||||
| 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | |
| RSIIX | 0.36% | 1.91% | 3.50% | 6.75% | 9.85% | 4.81% | 5.57% | 4.25% | 4.48% |
| ICE BofA U.S. High Yield Index | -0.55% | 2.68% | 6.91% | 7.44% | 16.47% | 2.95% | 4.38% | 4.77% | 5.06% |
| ICE BofA Corporate Bond Index | -2.25% | 0.96% | 5.93% | 3.38% | 13.63% | -1.81% | 0.71% | 2.63% | 3.09% |
| ICE BofA 3-7 Year U.S. Treasury Index | -2.13% | 0.08% | 4.59% | 2.19% | 7.34% | -1.09% | 0.15% | 1.29% | 1.35% |
| Quarter-End as of September 30, 2024 | Annualized | ||||||||
| 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | |
| RSIIX | 0.70% | 2.29% | 3.29% | 6.36% | 9.76% | 4.91% | 5.55% | 4.22% | 4.48% |
| ICE BofA U.S. High Yield Index | 1.63% | 5.28% | 6.42% | 8.03% | 15.66% | 3.08% | 4.55% | 4.95% | 5.16% |
| ICE BofA Corporate Bond Index | 1.72% | 5.72% | 5.85% | 5.76% | 14.13% | -0.98% | 1.29% | 2.96% | 3.33% |
| ICE BofA 3-7 Year U.S. Treasury Index | 1.06% | 4.47% | 5.04% | 4.41% | 9.07% | -0.62% | 0.64% | 1.61% | 1.56% |
PERFORMANCE DISCLOSURES
Definitions: YTD denotes year to date total return.
The performance data quoted represents past performance. Past performance does not guarantee future results. All statistics are annualized except in the case of return performance where the length of performance history is less than 1 year.
The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. For the Institutional Share Class, the gross expense ratio is 0.98% and the net expense ratio is 0.94%. For the Institutional Share Class, there is a 0.82% expense cap in place through May 12, 2025. The Gross and Net Expense Ratios are as of the prospectus dated January 28, 2024. Investment performance reflects contractual fee waivers in effect through May 12, 2025. In the absence of such fee waivers, total return would be reduced. The net expense ratio per the prospectus is the fee applicable to the investor. Current performance may be lower or higher than the performance quoted. All performance data is net of fees and includes the reinvestment of dividends and capital gains, but does not include the effects of taxes on any capital gains or distributions.
The ICE BofA U.S. High Yield Index tracks the performance of U.S. dollar denominated below investment grade corporate debt publicly issued in the U.S. domestic market.
The ICE BofA U.S. Corporate Index tracks the performance of U.S. dollar denominated investment grade corporate debt publicly issued in the U.S. domestic market.
The ICE BofA 3-7 Year U.S. Treasury Index is a subset of ICE BofA U.S. Treasury Index including all securities with a remaining term to final maturity greater than or equal to 3 years and less than 7 years.