RiverPark Goes Mutual

Apr 3 2012 | 1:21pm ET

RiverPark Advisors has transformed one of its hedge funds into a mutual fund, while retaining its strategy.

The New York-based firm said yesterday that its two-and-a-half-year-old Long/Short Opportunity Fund is now available on three major mutual fund platforms, Charles Schwab, Fidelity and Pershing. RiverPark chief investment officer Mitch Rubin remains the fund's portfolio manager.

"Many individuals believe that managing volatility and protecting against downside risk should be an important component of a fund's investment objection," Rubin said. "At the same time, maintaining exposure to the equity markets is important for achieving longer-term financial goals. The RiverPark Long/Short Opportunity Fund is designed to help investors benefit from the potential upside of equities while providing some protection in a macro environment in which there remain many uncertainties."

The fund is U.S.-focused but can invest up to 15% of its assets in foreign companies. Like the hedge fund it used to be, RiverPark Long/Short can use leverage, swaps and options.

Unlike the hedge fund it used to be, it will charge a maximum fee of 1.85% for its institutional share class and 2% for its retail share class.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of