Chicago-based RiverNorth Capital Management is prepping the launch of another open-end mutual fund, the Dynamic Buy-Write Fund.

According to a Securities and Exchange Commission filing the fund will bet on a portfolio of common stocks, preferred stocks and options on those common and preferred stocks. It will be managed by Eric Metz, who joined RiverNorth this year from Bengal Capital LLC, an investment adviser. It charges management fees of 100 basis points.

A spokesperson for the firm declined to further comment on the fund .

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