RiverNorth Capital Management has launched a new options/volatility mutual fund: the RiverNorth Dynamic Buy-Write Fund (RNBWX), which sells what the firm believes to be the “most attractive covered equity options”.

The fund will bet on U.S. exchange-listed equity options, equities and exchange-traded funds.

“We believe the options market can be inefficient at times,” stated Eric Metz, portfolio manager and derivatives strategist at RiverNorth. “Therefore, our security selection is driven by opportunities within the options marketplace, as opposed to underlying securities selection like most buy-write funds.”

The fund has a management fee of 100 basis points, according to Bloomberg.

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