The Fund will be primarily invested in what we call Money-Good securities where the enterprise value of the issuing company, when valued using what Cohanzick believes to be conservative valuation metrics, exceeds the value of the senior and equally ranked debt of the considered investment. Therefore, although the Fund will invest in both investment grade and non-investment grade securities, we believe the risk of loss of principal due to permanent impairment is minimal.
Under normal circumstances a majority of the Fund’s assets will be invested in securities that Cohanzick believes hold limited credit risk and provide above market yields. The Fund will also invest in securities of issuers experiencing credit stress that Cohanzick believes are protected from capital loss due to their priority in the issuer’s capital structure; are not widely-followed and/or are less liquid; present opportunities because of rising or falling interest rates; and opportunistically in asset backed securities, distressed securities and equities.
For further information on the sub-advisor, please visit www.cohanzick.com.
Our Portfolio Manager
David K. Sherman
Principal, Cohanzick Management, LLC
Cohanzick Management, LLC (Cohanzick) of Pleasantville, New York serves as the Sub-Adviser to the RiverPark Short Term High Yield Fund. David K. Sherman founded Cohanzick in 1996 and serves as the portfolio manager primarily responsible for the investment decisions of the Fund. Prior to founding Cohanzick, Mr. Sherman held various executive and director positions at Leucadia National Corporation and/or its subsidiaries.
Mr. Sherman holds a BS in Business Administration from Washington University.
David K. Sherman
Inception date of the Fund was September 30, 2013.
Total returns presented for periods less than one year are cumulative, returns for periods one year and greater are annualized.
Expense Ratio: Institutional: 1.05%, Retail: 1.22% as of the most recent prospectus dated January 28, 2021.
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.
As of TBD
|Security||% of Total Portfolio|
Holdings Subject to change.
*The positions set forth above comprise all of the long positions held by the Fund as of the date referenced. The percentage weightings represent the market value, including any accrued interest, of each position divided by the net asset value of the Fund as of that date.