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RiverNorth/Oaktree High Income I (RNHIX)

8.63
-0.02
(-0.23%)
At close: 8:02:10 PM EDT

Fund Summary

The fund will invest at least 80% of its assets in income-producing securities and instruments including, but not limited to, corporate bonds (including high-yield, below investment grade bonds, which are sometimes referred to as "junk bonds"), government-issued bonds, convertible bonds, preferred stocks, senior loans (which the manager defines as a type of security for purposes of this prospectus), and shares of closed-end funds, exchange-traded funds (ETFs) and other investment companies that invest principally in fixed income securities.

RiverNorth/Oaktree High Income I

Chicago, IL 60654
325 N Lasalle St. Suite 645
312-832-1440

Fund Overview

Category High Yield Bond
Fund Family RiverNorth Funds
Net Assets 55.61M
YTD Return 0.45%
Yield 7.39%
Morningstar Rating
Inception Date Dec 28, 2012

Fund Operations

Last Dividend 0.21
Last Cap Gain -10.00
Holdings Turnover 5.95%
Average for Category --

Fees & Expenses

Expense RNHIX Category Average
Annual Report Expense Ratio (net) 1.52% 0.95%
Prospectus Net Expense Ratio 1.52% --
Prospectus Gross Expense Ratio 1.81% --
Max 12b1 Fee -- --
Max Front End Sales Load -- 3.88%
Max Deferred Sales Load -- 1.28%
3 Yr Expense Projection 0 --
5 Yr Expense Projection 0 --
10 Yr Expense Projection 0 --

Management Information

Sheldon M. Stone, Lead Manager since December 28, 2012
Mr. Stone is the head of Oaktree’s high yield business. In this capacity, he serves as co-portfolio manager of Oaktree’s U.S. High Yield Bond and Global High Yield Bond strategies and has supervisory responsibility for European High Yield Bonds. Mr. Stone, a co-founding member of Oaktree in 1995, established TCW’s High Yield Bond Department with Mr. Marks in 1985 and ran the department for ten years. Prior to joining TCW, Mr. Stone worked with Mr. Marks at Citibank for two years where he performed credit analysis and managed high yield bond portfolios. From 1978 to 1983, Mr. Stone worked at The Prudential Insurance Company where he was a Director of Corporate Finance, managing a fixed income portfolio exceeding $1 billion. Mr. Stone holds a B.A. degree from Bowdoin College and an M.B.A. in Accounting and Finance from Columbia University. Mr. Stone serves as a Trustee of Colonial Williamsburg Foundation and Bowdoin College.

Morningstar Style Box

Morningstar Category

While the investment objective stated in a fund's prospectus may or may not reflect how the fund actually invests, the Morningstar category is assigned based on the underlying securities in each portfolio. Morningstar categories help investors and investment professionals make meaningful comparisons between funds. The categories make it easier to build well-diversified portfolios, assess potential risk, and identify top-performing funds. We place funds in a given category based on their portfolio statistics and compositions over the past three years. If the fund is new and has no portfolio history, we estimate where it will fall before giving it a more permanent category assignment. When necessary, we may change a category assignment based on recent changes to the portfolio.

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