Nasdaq - Delayed Quote USD

RiverPark Floating Rate CMBS Instl (RCRIX)

8.79 +0.01 (+0.11%)
At close: April 26 at 8:00 PM EDT

Fund Summary

The fund will invest in commercial mortgage backed securities ("CMBS"), predominately in the United States. Under normal circumstances, the fund may invest up to 100% of its assets in fixed income securities of which no less than 80% of its net assets (plus the amount of any borrowings for investment purposes) will be invested in floating rate CMBS. The advisor seeks to generate its returns primarily from its investments' monthly cash distributions and secondarily through opportunistic trading.

RiverPark Floating Rate CMBS Instl

New York NY 10019
156 West 56th Street
212-484-2100

Fund Overview

Category Bank Loan
Fund Family RiverPark Funds
Net Assets 32.07M
YTD Return 3.31%
Yield 7.87%
Morningstar Rating
Inception Date Sep 30, 2016

Fund Operations

Last Dividend 0.15
Last Cap Gain -79.00
Holdings Turnover 42.00%
Average for Category --

Fees & Expenses

Expense RCRIX Category Average
Annual Report Expense Ratio (net) 0.85% 1.03%
Prospectus Net Expense Ratio 0.85% --
Prospectus Gross Expense Ratio 0.99% --
Max 12b1 Fee -- --
Max Front End Sales Load -- 3.08%
Max Deferred Sales Load -- 1.05%
3 Yr Expense Projection 0 --
5 Yr Expense Projection 0 --
10 Yr Expense Projection 0 --

Management Information

Edward L. Shugrue III is the portfolio manager for the RiverPark Floating Rate CMBS Fund. Mr. Mr. Shugrue graduated from the University of Pennsylvania in 1988 with a BA (honors) in Political Science and with a degree from the Wharton School of Business. Prior to joining RiverPark in November 2018, Mr. Shugrue served for 15 years as the CEO of Talmage (and its predecessors), an investment manager and special servicer in the CMBS and commercial mortgage loan industry with over $12 billion of relevant investment experience. From 1997 until 2003, Mr. Shugrue co-built one of the country's first commercial real estate mezzanine investment platforms in his capacity as the Chief Financial Officer of Sam Zell's Capital Trust, Inc. (now Blackstone Mortgage Trust). From 1991 to 1996, Mr. Shugrue was one of four people responsible for turning around, taking public and selling River Bank America, a New York bank. From 1988 through 1990, Mr. Shugrue was employed in the real estate group of Bear Stearns & Co. Inc. where he worked on principal, agency and securitization assignments. Mr. Shugrue is a former governor of the Commercial Mortgage Backed Securities Association. He is a lecturer at the Harvard Business School (where he wrote a case study) and the Stanford Graduate School of Business. He has also published articles regarding CMBS in numerous publications including PREA Quarterly and CRE Finance World.

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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