RiverPark Short Term High Yield Fund Celebrates 10th Anniversary - Highest Sharpe Ratio

NEW YORK--()--The RiverPark Short Term High Yield Fund (ticker symbols RPHIX and RPHYX) celebrated its 10th anniversary on September 30, 2020. Over the 10 years since its inception the Fund has generated an annualized return of 2.96% and a Sharpe ratio of 2.89, which is the highest Sharpe ratio for any non-money market mutual fund tracked by Morningstar over that period. The Fund currently has about $725 million in assets, and while it had been closed in prior years, is now open to new investors.

The Fund’s goal is to realize superior returns relative to the universe of funds that also emphasize safety of principal,” says Morty Schaja, RiverPark’s, CEO. “We believe the Fund should be considered by investors with higher than normal cash allocations concerned that both fixed income and equity markets are at or near multi-generation highs.”

The Fund is sub-advised by Cohanzick Management. “We see many opportunities to invest in today’s market,” says David Sherman, Cohanzick’s Founder and the Fund’s Portfolio Manager. “Risk management has always been our number one priority, and the Fund, over its 10-year history, has always maintained an average maturity of under one year, with extremely low sensitivity to changes in interest rates.”

The RiverPark Funds may be purchased directly by application to the Funds or through firms like Charles Schwab, Fidelity and TD Ameritrade. For more information on the funds, please visit www.RiverParkFunds.com, or call Matt Kelly at (212) 484-2103.

Performance: Net Returns as of September 30, 2020

 

One
Year

 

Five
Year

 

Ten
Year

 

RiverPark Short Term High Yield Fund (RPHIX)

 

1.26

%

 

2.52

%

 

2.96

%

 

RiverPark Short Term High Yield Fund (RPHYX)

 

1.01

%

 

2.25

%

 

2.68

%

 

Total returns presented are annualized. The performance quoted herein represents past performance. Past performance does not guarantee future results. 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, and current performance may be higher or lower than the performance.

Gross expense ratios, as of the most recent prospectus dated 1/28/2020, for Institutional and Retail classes are 0.88% and 1.18%, respectively. Gross Expense Ratio does not reflect the ability of the adviser to recover all or a portion of prior waivers, which would result in higher expenses for the investor. Please reference the prospectus for additional information.

The Sharpe ratio is calculated by subtracting the risk-free rate, such as that of the 3-month U.S. Treasury Bill, from the rate of return for a portfolio and dividing the result by the standard deviation of the portfolio returns.

About RiverPark Funds

RiverPark Funds is comprised of six funds. Three of the Funds are managed in-house: the RiverPark Large Growth Fund (RPXFX/RPXIX), the RiverPark Long/Short Opportunity Fund (RLSFX/RLSIX), and the RiverPark Floating Rate CMBS Fund (RCRFX/RCRIX). The Wedgwood Fund (RWGIX/RWGFX) is sub-advised by Wedgewood Partners, Inc. in St. Louis and the RiverPark Short-Term High Yield Fund (RPHIX and RPHYX) and the RiverPark Strategic Income Fund (RSIVX/RSIIX) are sub-advised by Cohanzick Management, LLC. Currently RiverPark has approximately $3 billion in assets under management.

RiverPark is based in New York. More information is available at www.riverparkfunds.com.

To determine if a Fund is an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and other information may be found in the Fund's summary or full prospectus, which may be obtained by visiting www.riverparkfunds.com or calling 1-888-564-4517. Please read the prospectus carefully before investing.

Investing involves risk including possible loss of principal. Bonds and bond funds are subject to credit risk, default risk and interest rate risk and may decline in value as interest rates rise. High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities, due to the speculative nature of their investments. There can be no assurance that the Fund will achieve its stated objectives.

The RiverPark mutual funds are distributed by SEI Investments Distribution Co., which is not affiliated with RiverPark Advisors, LLC, Cohanzick Management, LLC, Wedgewood Partners, Inc., or their affiliates.

Contacts

Matt Kelly
RiverPark Funds
212.484.2103
mkelly@riverparkfunds.com

Release Summary

RiverPark Short Term High Yield Fund marks 10th anniversary; has highest Sharpe ratio of any non-money market mutual fund tracked over past decade.

Contacts

Matt Kelly
RiverPark Funds
212.484.2103
mkelly@riverparkfunds.com