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Name

As of 04/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

RiverPark Strategic Income Fund

RSIIX | Fund

$8.71

$399 M

0.00%

1.18%

Vitals

YTD Return

3.0%

1 yr return

8.9%

3 Yr Avg Return

4.5%

5 Yr Avg Return

4.8%

Net Assets

$399 M

Holdings in Top 10

26.9%

52 WEEK LOW AND HIGH

$8.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.18%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 89.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$50,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/19/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

RiverPark Strategic Income Fund

RSIIX | Fund

$8.71

$399 M

0.00%

1.18%

RSIIX - Profile

Distributions

  • YTD Total Return 3.0%
  • 3 Yr Annualized Total Return 4.5%
  • 5 Yr Annualized Total Return 4.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.94%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    RiverPark Strategic Income Fund
  • Fund Family Name
    RiverPark Funds
  • Inception Date
    Sep 30, 2013
  • Shares Outstanding
    19651069
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Sherman

Fund Description

The Fund seeks to achieve its investment objective by investing in both investment grade and non-investment grade debt, preferred stock, convertible bonds (i.e., debt securities that provide the Fund with a right or an obligation to exchange the debt security for a predetermined number of shares in the issuing
company), bank loans, high yield bonds, mortgage- and asset-backed securities, special purpose acquisition companies (“SPACs”) and income producing equities (collectively, “Securities”) that CrossingBridge Advisors, LLC (the “Adviser”), the Fund’s investment adviser, deems appropriate for the Fund’s investment objective. The Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in fixed income securities and income producing equities. The Fund may invest up to 100% of its assets in fixed income securities. The Fund will invest in fixed income securities of various credit qualities (i.e., investment grade and below investment grade (i.e., junk bonds)) and maturities (i.e., long-term, intermediate and short-term). The Fund may invest up to 100% of its assets in below investment grade fixed income securities. The Fund will invest in individual fixed income securities without restriction as to duration. The Fund’s investment in below investment grade fixed income securities may include distressed securities, which are fixed income securities issued by companies experiencing significant financial or business difficulties such as bankruptcy, reorganization or liquidation proceedings. The Fund will invest primarily in U.S. dollar-denominated securities but may invest up to 35% of its assets in foreign fixed income securities including sovereign debt and foreign currency-denominated securities. The Fund may hedge the foreign currency exposure by investing in forward currency contracts. A forward currency contract is an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties. The Fund may also invest up to 35% of its assets in income producing equities that either have a substantial dividend yield or where the Adviser believes the issuing company will distribute significant assets over a certain period of time. The Fund’s investments will be diversified across individual issuers and industries. The Fund, however, will invest without restriction as to issuer credit quality, or security maturity.
Although the Adviser will take macro factors (i.e., the effect of interest rates on the Fund’s investments) into consideration, the Fund’s portfolio construction is primarily driven by bottom-up investment analysis. This means that the Adviser looks at Securities on an individual basis to determine if a Security is an attractive investment opportunity and if it is consistent with the Fund’s investment objective. The Fund’s buy and sell decisions are driven by the Adviser’s investment process. The Fund may hold Securities until maturity but will sell a Security when the Adviser determines a Security is no longer an attractive investment opportunity consistent with the Fund’s investment objective, when a more attractive investment opportunity becomes available or to satisfy redemption requests. In addition, a Security may be purchased at a premium or discount and/or sold prior to maturity where the Adviser believes it is advantageous to do so. The Fund may invest up to 15% of the value of its total assets to effect short sales of securities, including up to 10% in short sales of exchange-traded funds (“ETFs”) to hedge the portfolio if the Adviser believes it is consistent with achieving the Fund’s investment objective. Other than for temporary purposes, the Fund will not borrow in order to gain leverage.
The Fund may engage in active trading of its portfolio, resulting in a high turnover rate.
There is no assurance that the Fund will achieve its investment objectives.
Read More

RSIIX - Performance

Return Ranking - Trailing

Period RSIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% -7.2% 6.6% 1.41%
1 Yr 8.9% -8.6% 17.7% 27.83%
3 Yr 4.5%* -16.5% 19.9% 1.48%
5 Yr 4.8%* -11.8% 36.4% 5.73%
10 Yr 4.0%* -4.8% 19.3% 14.32%

* Annualized

Return Ranking - Calendar

Period RSIIX Return Category Return Low Category Return High Rank in Category (%)
2023 1.6% -4.7% 14.3% 96.10%
2022 -9.2% -33.4% 3.6% 4.25%
2021 6.0% -8.4% 14.9% 0.98%
2020 -2.5% -13.9% 302.7% 86.82%
2019 -1.3% -4.4% 13.3% 99.31%

Total Return Ranking - Trailing

Period RSIIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% -7.2% 6.6% 1.41%
1 Yr 8.9% -8.6% 17.7% 27.83%
3 Yr 4.5%* -16.5% 19.9% 1.48%
5 Yr 4.8%* -11.8% 36.4% 5.73%
10 Yr 4.0%* -4.8% 19.3% 14.32%

* Annualized

Total Return Ranking - Calendar

Period RSIIX Return Category Return Low Category Return High Rank in Category (%)
2023 9.0% -4.7% 18.2% 90.80%
2022 -3.3% -33.4% 47.8% 4.25%
2021 11.6% -8.4% 24.8% 1.31%
2020 3.4% -9.6% 325.6% 78.38%
2019 3.5% 0.9% 21.5% 98.79%

NAV & Total Return History

RSIIX - Holdings

Concentration Analysis

RSIIX Category Low Category High RSIIX % Rank
Net Assets 399 M 1.45 M 23.6 B 61.33%
Number of Holdings 139 2 2736 87.62%
Net Assets in Top 10 101 M -492 M 4.45 B 44.74%
Weighting of Top 10 26.90% 4.2% 146.9% 10.37%

Top 10 Holdings

  1. Icahn Enterprises LP / Icahn Enterprises Finance Corp 3.27%
  2. Summit Midstream Holdings LLC / Summit Midstream Finance Corp 3.12%
  3. DocuSign Inc 2.96%
  4. NAI Entertainment Holdings LLC 2.95%
  5. Infrabuild Australia Pty Ltd 2.72%
  6. Cengage Learning Inc 2.72%
  7. TPC Group Inc 2.53%
  8. Fiven ASA 2.46%
  9. IEA Energy Services LLC 2.16%
  10. Lithium Midco II Ltd 2.00%

Asset Allocation

Weighting Return Low Return High RSIIX % Rank
Bonds 		85.98% -3.13% 154.38% 89.52%
Cash 		12.13% -52.00% 48.07% 5.57%
Convertible Bonds 		5.78% 0.00% 17.89% 3.87%
Preferred Stocks 		1.18% 0.00% 7.88% 10.53%
Stocks 		1.09% 0.00% 99.54% 37.13%
Other 		-0.37% -63.70% 102.57% 97.06%

Stock Sector Breakdown

Weighting Return Low Return High RSIIX % Rank
Financial Services 		64.65% 0.00% 100.00% 10.11%
Healthcare 		15.35% 0.00% 22.17% 2.53%
Energy 		6.80% 0.00% 100.00% 62.92%
Industrials 		6.42% 0.00% 93.12% 14.33%
Communication Services 		5.04% 0.00% 99.99% 40.73%
Real Estate 		1.69% 0.00% 86.71% 17.42%
Technology 		0.03% 0.00% 33.17% 28.65%
Utilities 		0.00% 0.00% 100.00% 69.38%
Consumer Defense 		0.00% 0.00% 100.00% 67.13%
Consumer Cyclical 		0.00% 0.00% 100.00% 75.56%
Basic Materials 		0.00% 0.00% 100.00% 67.42%

Stock Geographic Breakdown

Weighting Return Low Return High RSIIX % Rank
US 		1.09% 0.00% 99.54% 37.15%
Non US 		0.00% -0.01% 0.83% 63.31%

Bond Sector Breakdown

Weighting Return Low Return High RSIIX % Rank
Corporate 		61.80% 0.00% 129.69% 97.21%
Cash & Equivalents 		7.58% 0.00% 48.07% 12.38%
Securitized 		2.06% 0.00% 97.24% 16.90%
Municipal 		0.00% 0.00% 4.66% 59.22%
Government 		0.00% 0.00% 99.07% 70.39%
Derivative 		-0.37% -15.04% 42.26% 97.52%

Bond Geographic Breakdown

Weighting Return Low Return High RSIIX % Rank
US 		71.51% -3.13% 129.21% 90.71%
Non US 		14.47% 0.00% 98.19% 10.06%

RSIIX - Expenses

Operational Fees

RSIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.18% 0.04% 31.61% 36.07%
Management Fee 0.65% 0.00% 1.84% 77.31%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.11% 0.00% 0.50% 60.42%

Sales Fees

RSIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

RSIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

RSIIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 89.00% 1.00% 255.00% 82.85%

RSIIX - Distributions

Dividend Yield Analysis

RSIIX Category Low Category High RSIIX % Rank
Dividend Yield 0.00% 0.00% 11.76% 18.31%

Dividend Distribution Analysis

RSIIX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

RSIIX Category Low Category High RSIIX % Rank
Net Income Ratio 4.94% -2.39% 14.30% 23.15%

Capital Gain Distribution Analysis

RSIIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

RSIIX - Fund Manager Analysis

Managers

David Sherman

Start Date

Tenure

Tenure Rank

Sep 30, 2013

8.67

8.7%

David K. Sherman is the portfolio manager for RiverPark Short Term and RiverPark Strategic Income. Mr. Sherman, is the managing member of Cohanzick. Since 1996, Mr. Sherman, on behalf of Cohanzick Management, LLC , has managed accounts for various clients utilizing investment programs substantially similar to those intended to be used by the Fund. From January 1987 to August 1996, Mr. Sherman held various executive and director positions at Leucadia National Corporation and/or its subsidiaries. From August 1992 to August 1996, Mr. Sherman served as a Vice President of Leucadia with primary responsibility for the oversight of Leucadia's insurance companies' investment portfolios. Mr. Sherman holds a B.S. in Business Administration from Washington University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17

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