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Rivernorth opportunities fund inc


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Limited Partnership traders can get entry to fund statements and extra here

Net Asset Value as of seven.eight.2021

Diversification does no longer make sure a earnings or guarantee against loss.

Investment Strategy

The Fund affords traders precise market get right of entry to to managers who are specialists in their respective asset classes. The Fund also offers first time get entry to in the U.S. to each Oaktree’s Senior Loan and High Yield Bond Strategies in a day by day priced vehicle.

Investment Rationale

Portfolio asset allocations are estimates made by using the choices adviser and are subject to exchange.

The allocation does no longer upload as much as a hundred% because it reflects the anticipated leverage used by the choices underlying budget.

Portfolio Statistics as of five.31.2021

Performance facts quoted represents beyond overall performance, which isn’t always a guarantee of future results. Current overall performance may be lower or higher than the overall performance quoted. The primary fee and funding go back of an investment will vary in order that your shares, when redeemed, may be really worth more or less than their original fee. You can attain performance facts modern to the most latest month quit by using calling (888) 848-7569. Total go back measures internet investment profits and capital advantage or loss from portfolio investments. All performance shown assumes reinvestment of dividends and capital profits distributions.

Fund Expenses

The price ratio as disclosed in the Fund’s annual report dated nine.30.2020 simplest includes the direct prices paid with the aid of shareholders from their funding. The rate ratio as disclosed inside the Fund’s prospectus dated 1.28.2021 is needed to include the indirect charges of investing in underlying price range.

Risk/Return Tradeoff

As of three.31.2021 (Since Inception*)

Portfolio Managers

Mr. Stone is the head of Oaktree’s high yield bond place. In this potential, he serves as co-portfolio supervisor of Oaktree’s U.S. High Yield Bond and Global High Yield Bond techniques and has supervisory responsibility for European High Yield Bonds. Mr. Stone, a co-founding member of Oaktree in 1995, mounted TCW’s High Yield Bond branch with Howard Marks in 1985 and ran the choices branch for ten years. Prior to joining TCW, Mr. Stone labored with Mr. Marks at Citibank for two years wherein he executed credit score evaluation and controlled high yield bond portfolios. From 1978 to 1983, Mr. Stone labored at The Prudential Insurance Company wherein he became a director of corporate finance, dealing with a hard and fast income portfolio exceeding $1 billion. Mr. Stone holds a B.A. diploma 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.

Mr. Kaplan joined Oaktree in 2016 and is a dealing with director and portfolio manager for the U.S. Senior Loan strategy. Before joining Oaktree, he was a portfolio manager, managing director and analyst with Levine Leichtman Capital Partners. There, Mr. Kaplan managed a fixed income portfolio making an investment in leveraged loans and excessive yield securities. Prior thereto, he turned into an analyst for the credit score opportunities approach at Wolf Point Capital Management. Additional funding enjoy, within the distressed debt region, consists of serving as vice president at PPM America, Inc.; Bank One, NA; and Renaissance Financial Restructuring. Mr. Kaplan began his profession as a senior analyst with Bankers Trust Corporation. He obtained a B.S. diploma cum laude in economics from The Wharton School at the University of Pennsylvania and is a CFA charterholder.

Mr. Rosenberg serves as co-portfolio manager for Oaktree’s U.S. High Yield Bond and Global High Yield Bond strategies. He joined Oaktree in 2004 following graduation from the choices University of Southern California with an M.B.A. in enterprise management. Before attending graduate school, Mr. Rosenberg served as an accomplice in the Franchise Systems Finance Group at J.P. Morgan. Mr. Rosenberg holds an M.P.A. in professional accounting with a awareness in finance and a B.A. degree in business administration from the University of Texas at Austin. He is a Certified Public Accountant (inactive).

Ms. Jones joined Oaktree’s London workplace in 2003 and serves as portfolio manager for the European High Yield Bond and European Senior Loan techniques, and co-portfolio manager for the Global High Yield Bond approach. Before becoming a member of Oaktree, Ms. Jones spent more than three years at Deutsche Bank AG in London as a senior associate within the Leveraged Debt Origination Group that specialize in mortgage, mezzanine and excessive yield bond financings to aid European leveraged buyouts. Prior thereto, she spent years within the Acquisition Finance Group at Natwest Group %. Ms. Jones obtained a B.A. degree in economics from the choices University of Durham, England. She is a CFA charterholder.

Mr. Shackleton joined Oaktree’s London workplace in 2004 and serves as co-portfolio supervisor for the choices European High Yield Bond strategy and the European Credit product. Mr. Shackleton additionally serves as assistant portfolio supervisor for the Global High Yield Bond method. He formerly labored at PricewaterhouseCoopers LLP within the UK, where he qualified as a Chartered Accountant. Mr. Shackleton is a graduate of the University of Oxford.

Disclosures & Definitions

More distinct information concerning these dangers can be found inside the Fund’s prospectus.

Fund Risks: Borrowing Risk – borrowings increase fund charges and are issue to compensation, probably at inopportune instances. Closed-End Fund Risk – closed-stop price range are change traded, may change at a reduction to their net asset values and might set up leverage. Convertible Security Risk – the marketplace value of convertible securities adjusts with interest charges and the choices fee of the choices underlying stock. Credit Derivatives Risk – the use of credit derivatives is rather specialised, entails default, counterparty and liquidity risks and may not flawlessly correlate to the choices underlying asset or liability being hedged. Currency Risk – overseas currencies will upward push or decline relative to the choices U.S. greenback. Derivatives Risk – derivatives are problem to counterparty threat. Distressed and Defaulted Securities Risk – defaulted securities convey the danger of uncertainty of compensation. Equity Risk – fairness securities may additionally revel in volatility and the choices price of equity securities may additionally flow in contrary directions from every other and from other fairness markets usually. Exchange Traded Note Risk – change traded notes represent unsecured debt of the choices provider and can be motivated by means of interest costs, credit scores of the choices issuer or changes in value of the choices reference index. Fixed Income Risk – the market cost of fixed income securities adjusts with hobby prices and the choices securities are problem to issuer default. Foreign/Emerging Market Risk – foreign securities may be concern to inefficient or unstable markets, extraordinary regulatory regimes or different tax regulations. These risks can be enhanced in rising markets. Floating Interest Rate Risk – loans pay hobby based on the London Interbank Offered Rate (LIBOR) and a decline in LIBOR ought to negatively impact the Fund’s return. Investment Style Risk – funding strategies may additionally are available in and out of style with investors and may underperform or outperform at instances. Large Shareholder Purchase and Redemption Risk – The Fund may additionally experience detrimental outcomes while positive big shareholders purchase or redeem big amounts of stocks of the choices Fund. Liquidity Risk – illiquid investments can be difficult or not possible to sell. Loans Risk – loans can be unrated or rated beneath funding grade and the choices pledged collateral can also lose fee. Secondary buying and selling in loans isn’t completely-evolved and can result in illiquidity. Management Risk – there is no guarantee that the adviser’s or sub-adviser’s investment choices will produce the choices desired consequences. Market Risk – monetary situations, interest rates and political activities might also affect the choices securities markets. Preferred Stock Risk – favored stocks generally pay dividends, however can be less liquid than not unusual stocks, have less priority than debt gadgets and may be challenge to redemption via the choices company. Security Risk – the cost of the Fund may additionally growth or lower in response to the choices potentialities of the choices issuers of securities and loans held in the Fund. Swap Risk – change agreements are problem to counterparty default risk and may not carry out as supposed. Tax Risk – new federal or country governmental motion could adversely affect the choices tax-exempt reputation of securities held by means of the Fund, ensuing in better tax liability for shareholders and potentially hurting Fund performance as properly. Underlying Fund Risk – underlying funds have additional charges, may additionally utilize leverage, may not correlate to an intended index and might alternate at a discount to their internet asset values. Valuation Risk – Loans and glued-earnings securities are traded “over the choices counter” and because there’s no centralized records concerning buying and selling, the valuation of loans and stuck-profits securities may vary.

Past performance is no assure of destiny results.

High yield bonds are subject to interest fee risk. If quotes boom, the choices price typically declines.

CFA® is a trademark owned by the choices CFA Institute.

1 The rate at which a closed-give up fund trades frequently varies from its NAV. Some funds have market costs beneath their net asset values – called a reduction. Conversely, some budget have market fees above their internet asset values – called a top rate.

2 Investment grade is a rating that suggests that a municipal or corporate bond has a enormously low risk of default.

3 Estimated period is a degree of the sensitivity of the choices fee of a fixed earnings funding to a change in hobby charges. Duration is expressed as a number of years. Duration is predicted via the adviser based on certain assumptions by way of 1/3-birthday celebration statistics and is challenge to exchange.

4 The BofA Merrill Lynch Developed Markets High Yield Constrained Index incorporates all securities in the BofA Merrill Lynch Global High Yield index from advanced markets nations but cap issuer exposure at 2%. Developed markets is described as an FX-G10 member, a Western European nation, or a territory of the choices U.S. or a Western European state. The index tracks the performance of USD, CAD, GBP and EUR denominated under funding grade corporate debt publicly issued within the fundamental home or Eurobond markets. Qualifying securities ought to have a underneath investment grade score (based on an average of Moody’s, S&P and Fitch). The index can’t be invested in immediately and does now not reflect expenses and fees.

5 CS Leveraged Loan Index tracks the investable marketplace of the choices U.S. dollar denominated leveraged mortgage marketplace. It includes issues rated “5B” or decrease, meaning that the very best rated issues included on this index are Moody’s/S&P rankings of Baa1/BB+ or Ba1/BBB+. All loans are funded term loans with a tenor of as a minimum twelve months and are made with the aid of issuers domiciled in evolved countries. The index can’t be invested in directly and does now not replicate prices and fees.

6 High-yield bond portfolios give attention to lower-satisfactory bonds, which might be riskier than the ones of higher-pleasant organizations. These portfolios normally provide higher yields than other varieties of portfolios, but they’re also extra prone to economic and credit score risk. These portfolios basically invest in U.S. high-income debt securities where at least 65% or greater of bond assets are not rated or are rated by way of a chief enterprise consisting of Standard & Poor’s or Moody’s at the stage of BB (considered speculative for taxable bonds) and under.

7 30-Day SEC Yield: The yield figure reflects the dividends and interest earned throughout the length, after the deduction of the choices Funds’ charges. Unsubsidized SEC Yield: The yield excludes contractual cost reimbursements, ensuing in a decrease yield.

eight As of prospectus dated 1.28.2021. The adviser has contractually agreed to defer the collection of expenses and/or reimburse costs, however simplest to the choices quantity essential to restriction Total Annual Fund Operating Expenses (excluding brokerage fees and commissions; borrowing fees, consisting of (a) hobby and (b) dividends on securities bought brief; taxes; oblique prices incurred via the underlying funds wherein the choices Fund invests; and splendid expenses) to at least one.35% (RNHIX) and 1.60% (RNOTX) of the choices average each day net property of the choices Fund thru 1.31.2022.

9 The Fund will pay periodic distributions such as dividend income, return of capital, and capital gains. However, the tax traits of these distributions can not be fully determined until after the choices end of yr whilst the Fund’s underlying investments designate or reclassify the choices composition of their bills. In the choices period in-between, the choices Fund estimates return of capital quotes based on the choices previous 12 months’s distribution. As a result, a portion of the choices quoted SEC Yield may additionally include an predicted quantity of go back of capital.

This website online does not represent an offer to sell or a solicitation of a proposal to shop for stocks of the Funds in any jurisdiction in which such offer, solicitation, buy or sale would be illegal under the choices securities legal guidelines of such jurisdiction.

An investment inside the Funds entails risk, consisting of loss of important.