Canyon Partners Mutual Fund Eclipses $100 Million in Assets Under Management

LOS ANGELES--()--Canyon Partners, a global alternative asset manager with over $26 billion in assets under management, is pleased to announce that the River Canyon Total Return Bond Fund (NASDAQ: RCTIX) has eclipsed $100 million in assets under management. RCTIX employs a bottom-up credit selection process to invest in structured credit securities such as residential mortgage-backed securities, mortgage derivatives, other asset backed securities and CLOs. The fund is managed by Senior Portfolio Manager and Head of Structured Products George Jikovski, CFA, who joined Canyon in 2007.

“The River Canyon Total Return Bond Fund represents the continued evolution of our platform and its success is the result of Canyon’s experience sourcing and evaluating investments in the structured credit markets,” said Josh Friedman, Co-Founder and Co-CEO of Canyon Partners. “Reaching this milestone is an important initial step and we look forward to the continued success of our flagship mutual fund product.”

RCTIX has maintained a 5-star overall Morningstar rating and, since inception in 2014, the fund has consistently outperformed the Bloomberg Barclays U.S. Aggregate Bond Index.

*Average annual returns as of September 30, 2019. 269 funds in the Multi-Sector Bond category.

River Canyon Total Return Bond Fund Performance

RCTIX

Bloomberg Barclays
US Agg

 
YTD

11.49

%

8.52

%

1 - Year

10.16

%

10.30

%

3 - Year (Ann)

7.17

%

2.92

%

Since Inception (Ann)

6.53

%

3.19

%

Inception-to-date figures are since RCTIX inception on 12/30/2014 through 08/31/2019. Gross Expense Ratio 2.49, Net Expense Ratio .71%*

The performance data quoted represents past performance; past performance does not guarantee future results. Performance reflects net of fee performance after contractual fee waivers in effect. If fee waivers were not in place, performance would be reduced. 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. The fund’s current performance may be lower or higher than the performance data quoted. Investors may obtain performance information current to the most recent month-end, within 7 business days, by calling 800-245-0371 or 312-557-0164.

“Given today’s market environment, investors are gravitating to structured credit strategies because they have the potential to offer attractive risk adjusted returns as well as diversification to traditional fixed income allocations,” said Mr. Jikovski.

About River Canyon Fund Management

In 2013, Canyon Partners established River Canyon Fund Management as an investment advisor for its more liquid credit strategies. With an emphasis on structured products, River Canyon’s mandates include the River Canyon Total Return Bond Fund as well as bespoke separately managed accounts designed to fit investor objectives. These strategies bring to bear the full resources of the Canyon platform including the research team, trading, legal, and operations.

For more information please visit: https://www.rivercanyonfunds.com/

About Canyon Partners, LLC

Founded in 1990, Canyon Partners is a leading alternative asset manager investing on behalf of institutional investors worldwide, with over $26 billion in assets under management. Canyon is headquartered in Los Angeles, with offices in Hong Kong, London, New York, Seoul, Shanghai and Tokyo.

For more information please visit: www.canyonpartners.com.

*River Canyon Fund Management LLC (the “Adviser”) has contractually agreed to waive fees and reimburse expenses for the River Canyon Total Return Bond Fund to the extent that total annual fund operating expenses (excluding brokerage costs, interest, taxes, dividend expense on short positions, litigation and indemnification expenses, expenses associated with investments in underlying investment companies, and extraordinary expenses) exceed 0.65% until January 28, 2020.

Funds investing in bonds can lose their value as interest rates rise, and investors participating in such funds can suffer a loss of principal.

Investors should consider the investment objectives, risks, charges and expenses of the fund carefully before investing. This and other information are contained in the fund’s prospectus and statement of additional information, which may be obtained by contacting River Canyon or calling 1-800-245-0371. Please read these documents carefully before you invest or send money.

The Morningstar Rating™ for funds, or “star rating,” is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. The Morningstar Rating™ is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. © 2019 Morningstar. All Rights Reserved.

Foreside Financial Services, LLC, member FINRA is the distributor of the Fund and is not affiliated with River Canyon Fund Management.

Contacts

Media Inquiries:
Jake Malowitz
Prosek Partners
jmalowitz@prosek.com
646.818.9296

Contacts

Media Inquiries:
Jake Malowitz
Prosek Partners
jmalowitz@prosek.com
646.818.9296