The RiverPark/Wedgewood Fund (RWGFX, RWGIX), a focused large cap, open-end growth reached a milestone this week in hitting the $1 billion in assets under management mark.
The fund is managed by David Rolfe, chief investment officer at St. Louis, Missouri-based Wedgewood Partners, the fund’s sub-advisor. The fund, which launched in October 2010, typically bets on 20-22 companies, with market capitalizations in excess of $5 billion.
"For the RiverPark/Wedgewood fund to reach $1 billion in assets under management well before its three-year anniversary is a true testament to the great work our friends at Wedgewood Partners have done on behalf of their investors over the last 21 years," stated Morty Schaja, chief executive officer and co-founder of RiverPark.
As of June 21, RiverPark had approximately $1.9 billion in assets under management. The firm’s current lineup also includes the RiverPark Large Growth Fund (RPXFX, RPXIX); the RiverPark Long/Short Opportunity Fund (RLSFX, RLSIX); the RiverPark/Gargoyle Hedged Value Fund (RGHVX, RGHIX); and the RiverPark Short Term High Yield Fund (RPHYX, RPHIX).