RiverPark Advisors has launched a new family of no-load open-end mutual funds, three of which will invest in large-cap stocks.
The RiverPark Large Growth Fund seeks long-term capital appreciation by investing in large-cap stocks. The RiverPark/Wedgewood Fund has the same investment mandate but will concentrate in only 20 to 30 holdings and be sub-advised by Wedgewood Partners. The RiverPark/Gravity Long-Biased Fund shares this investment mandate as well but seeks to reduce market-related risk by investing in both stocks and equity market index ETFs. It will be sub-advised by Gravity Capital Management.
The RiverPark Small Cap Growth Fund will invest in small-caps, and the RiverPark Short Term High Yield Fund seeks current income and capital appreciation by investing in high-yield bonds with a maturity of less than three years.
“We believe that each of these funds addresses an important investment allocation for investors and their advisers,” said Morty Schaja, chief executive officer and managing partner at RiverPark.