RiverPark Launches RiverPark/Next Century Growth Fund (RPNIX/RPNCX)

NEW YORK--(BUSINESS WIRE)--RiverPark Funds is excited to announce that the RiverPark/Next Century Growth Fund (the “Fund”) launched on June 30, 2023. The Fund seeks long term capital appreciation by investing primarily in small cap U.S. growth equities.

The Fund is sub-advised by Next Century Growth Investors, LLC (“Next Century”), a registered investment advisor, with 25 years of experience managing institutional separate accounts. Next Century brings its strong performance record and an experienced investment team that has been tested across different market environments.

“As inflation worries recede and interest rates peak, we believe this is a particularly attractive time to invest in small cap growth” said Morty Schaja, RiverPark’s CEO. “After meeting with the team at Next Century, we realized that we shared a similar investment approach and philosophy and are excited to make available to mutual fund investors what was previously only available to large institutional investors.”

Next Century constructs its portfolio with 40-60 stocks that its internal research has identified as among the fastest growing and highest quality companies in America.

Next Century’s distinctive team approach, where all portfolio managers participate in direct research and investment decisions, allows it to consistently apply the firm’s growth philosophy in all economic and market environments. Next Century believes its focus on growth, combined with a strong sell discipline, has enabled its small cap growth strategy to outperform the Russell 2000 Growth Index over one-, two-, three-, five-year and ten-year periods as well as since inception.¹

“We are very proud of our long-term track record that was built while serving primarily institutional investors, and we are excited to make that same portfolio available to a wider audience. RiverPark has been a great partner in accomplishing that,” said Bob Scott, Next Century’s President. “With small cap growth stocks trading at some of the lowest valuations in decades, we feel this is an opportune time to launch our mutual fund.”

As of September 1, 2023, Next Century has approximately $1 billion under management.

RiverPark and Next Century believe strongly in investing alongside their shareholders, and both firms invested $1 million in the Fund at the time of launch.

The Fund may be purchased directly by application to the Fund or through firms like Charles Schwab and Fidelity. For more information, please visit www.riverparkfunds.com or call Matt Kelly at [phone].

About RiverPark Funds

The RiverPark family of fund is comprised of six funds: the RiverPark/Next Century Growth Fund (RPNCX/RPNIX), the RiverPark Large Growth Fund (RPXFX/RPXIX), the RiverPark Long/Short Opportunity Fund (RLSFX/RLSIX), the RiverPark Floating Rate CMBS Fund (RCRFX/RCRIX), the Wedgwood Fund (RWGIX/RWGFX) and the RiverPark Short-Term High Yield Fund (RPHIX/RPHYX).

About RiverPark Advisors LLC

RiverPark Advisors, LLC is a New York-based investment advisory company and the sponsor of the RiverPark family of mutual funds. More information is available at www.riverparkfunds.com.

About Next Century Growth Investors, LLC

Founded in 1998, Next Century Growth Investors, LLC is an independent money management firm located in Minneapolis, MN. More information is available at www.ncgrowth.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. 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. Purchasing Fund shares should be viewed as a long-term investment. Investments in smaller companies typically exhibit higher volatility. There can be no assurance that the Fund will achieve its stated objectives.

The Russell 2000® Growth Index measures the performance of the small-cap growth segment of the US equity universe. It includes those Russell 2000® companies with higher price-to-value ratios and higher forecasted growth values. The Russell 2000® Growth Index is constructed to provide a comprehensive and unbiased barometer for the small-cap growth segment. The index is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set and that the represented companies continue to reflect growth characteristics. The Russell 2000® Growth Index is not an actual investment and does not reflect the deduction of transaction charges and other expenses that your account must bear.

The RiverPark mutual funds are distributed by SEI Investments Distribution Co., which is not affiliated with RiverPark Advisors, LLC or its affiliates.

¹ The performance information cited herein is as of June 30, 2023, and is provided to illustrate the past performance of Next Century in managing separate accounts with a substantially similar investment strategy. The inception date of the strategy was January 1, 1999. This performance information does not represent the performance of the Fund, which commenced operations on June 30, 2023. Additionally, the Fund is registered pursuant to the 1940 Act and subject to the rules and regulations thereunder, which were not applicable to the separate accounts managed by Next Century. Past performance does not guarantee future results.