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I was just rebalancing some things and almost bought RNCOX due to a typo. I thought it was closed? I'm in a TIAA-CREF self-directed brokerage window inside a Roth account.
It and RiverNorth pique my interest, but it doesn't really fit into my overall Asset Allocation right now. I guess I could buy it since it's unexpectedly available and then redesign, but probably not worth it.
It's a fair point. That account ends up mostly holding ARTGX and RNDLX and I'm happy with my allocation except for debating whether RNDLX is too conservative, or if thats the point of having a bond fund. I was mostly just surprised when they were about to allow me to execute the order. Even the RiverNorth website says it's closed to new investors.
Don't know if its closed or not, but opening new accounts with RiverNorth is a hassle. They don't accept new accounts directly anymore, and the firm they've given that piece of business to is highly nonresponsive.
Buying their funds through a broker may be a different matter, however. But otherwise, I'm pretty disappointed in the firm.
Comments
Buying their funds through a broker may be a different matter, however. But otherwise, I'm pretty disappointed in the firm.
Regards,
Ted
Fact Sheet RNCOX:
http://assets.rivernorth.com/pdf/fact.sheet/2014.q4.rncix.rncox.fact.sheet.cedar.pdf