Overview

Next Century Growth seeks to achieve its investment objective by investing in the fastest growing and highest quality small cap companies in America. The Fund will invest in companies that Next Century believes will sustain above-average revenue and earnings growth over time, or which are expected to develop rapid sales and earnings growth in the future when compared to the economy and stock market as a whole. Next Century employs a “bottom up” approach in its stock selection, which is the use of fundamental analysis to identify companies that it believes over the long term will surpass consensus earnings estimates.

Next Century’s team of five portfolio managers focuses bottom-up on the following important criteria:

  1. Top-Line Revenue Growth: We look for companies that can grow their revenue at high rates for long periods of time.
  2. Large and Expanding Market Opportunity: We target companies with large and expanding end markets that can support high rates of revenue and earnings growth for many years.
  3. Leadership Position: We identify companies with limited competition or with the ability to gain market share as this should lead to strong revenue growth and improving margins.
  4. Strong Management: We consider a strong, entrepreneurial leadership team essential to delivering the full potential of a company, and we meet with and speak to management teams regularly.

 

FACT SHEET

Quarterly Letter

For further information
on the sub‑advisor, please visit:

www.ncgrowth.com

Barrons Article

 

Conrad van Tienhoven

Our Portfolio Managers

Tom Press, CFA

Chairman and Chief Executive Officer, Partner

Tom founded NCG in November 1998 with the goal of managing client accounts within the firm’s growth stock investing philosophy. He is one of the portfolio managers on all strategies. Prior to NCG he worked as a portfolio manager at Jundt Associates from 1994-1998 and Investment Advisors from 1992-1993. From 1985-1992 he worked at Salomon Brothers and Morgan Stanley on the institutional sales desk. Tom holds a B.A. in business administration from the University of Minnesota and an M.B.A. from the University of St. Thomas. He was a former member of the U.S. World, World Cup, and Olympic Wrestling Teams (alternate and team leader) and is a member of the Minnesota Wrestling Coaches Association Hall of Fame.

Bob Scott, CFA

President, Portfolio Manager, Partner

Bob joined NCG in 2000, serving as one of the portfolio managers on all strategies, and he became a partner in 2002. In 2003, he helped create NCG’s microcap strategy. Bob became President in 2013 and served as COO from 2013-2021. Prior to joining NCG, Bob worked at Investment Advisers, Inc (IAI) from 1993-2000. While at IAI, he held various positions including Vice President and portfolio manager for the IAI small cap growth and mid cap growth products. He also spent two years as a research analyst with the American Embassy in Tokyo, Japan. Bob graduated from Harvard University in 1990.

Peter Capouch, CFA

Chief Operating Officer, Portfolio Manager, Partner

Peter joined NCG in 2003, serving as one of the portfolio managers on all strategies, and he became a partner in 2008. Peter became COO in 2021. Prior to joining NCG, he worked for one year at State Street Global Advisors. Peter graduated from Harvard University in 2002, where he was captain of the men’s ice hockey team.

Kaj Doerring

Portfolio Manager, Partner

Kaj joined NCG in 2005, serving as one of the portfolio managers on all strategies, and he became a partner in 2009. Prior to NCG, Kaj spent three years at Think Equity Partners and three years at Piper Jaffray. Before entering the investment industry, he spent 14 years at various positions within drug, diagnostic, medical device and capital equipment sales/marketing areas, including nine years at Bristol-Myers Squibb, two years at Boehringer Mannheim Diagnostics and three years at Coherent Surgical. Kaj graduated from Concordia College, Moorhead, MN in 1985 with a BA in Computer Science.

Tom Dignard, CFA

Portfolio Manager, Partner

Tom joined NCG in 2013, serving as one of the portfolio managers on all strategies, and he became a partner in 2019. Tom earned his BA in economics from Yale University in 2010, where he was also a 4-year letterman of the Men’s Ice Hockey Team. He earned his MBA and graduated with Distinction from the University of Ulster in 2012.

Performance

 

Inception date of the Fund was June 30, 2023.

Expense Ratio: Institutional: 1.45% gross and 1.15% net, Retail: 1.70% gross and 1.40% net as of the most recent prospectus, dated January 26, 2024. The Gross Expense Ratio reflects actual expenses and the Net Expense Ratio reflects the impact of waivers or recaptures if any.

The performance quoted herein is net of all fees and expenses and represents past performance. Past performance does not guarantee future results. High short-term performance of the Fund is unusual and investors should not expect such performance to be repeated. 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 quoted.

The Fund offers two classes of shares. Retail Class shares have a shareholder services fee of up to 0.25% per annum of average daily net assets. Institutional Class shares have no shareholder services fee. For more information, please see the prospectus.

RiverPark has agreed contractually to waive its fees and to reimburse expenses of the Fund, including expenses associated with the Fund’s shareholder services plan and administrative services plan, to the extent necessary to ensure that operating expenses (excluding acquired fund fees and expenses and extraordinary expenses) do not exceed, on an annual basis, 1.15% for the Institutional Class Shares and 1.40% for the Retail Class Shares. This agreement is in effect until at least January 31, 2025 and, subject to annual approval by the Board of Trustees of RiverPark Funds Trust, this arrangement will remain in effect unless and until the Board of Trustees approves its modification or termination or the Adviser notifies the Fund at least 30 days prior to the annual approval of its determination not to continue the agreement.

Holdings*

As of TBD
Security Security Identifier % of Total Portfolio

 

Holdings are subject to change.

*The percentage weightings set forth above represent the market value of each position divided by the net asset value of the Fund as of that date.