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I own both funds which came to my attention via David's fund commentary. Is it a correct assumption that approximately one third of RNDLX replicates the same holdings and strategy of RNCOX?
There may be some overlap in the one-third RiverNorth sleeve of RNDLX/RNSIX. Yet, under normal market conditions, RNCOX is more equity-oriented with 52% in stocks currently. As detailed in the April 19th conference call with Galley and Gundlach, the RiverNorth sleeve in RNDLX/RNSIX will generally be more bond-centric. The partnership between these two firms appears on the surface to have much potential. Time will tell. The conference call can be heard here after a simple registration: http://www.talkpoint.com/viewer/starthere.asp?Pres=134875
I own RSNIX (large position) and RNCOX (small position). I understand that the "Galley sleeve" of RNSIX will be fixed income CEFs if they can be bought at a suitable discount. It is not a fixed percentage of the portfolio. RNCOX is split between CEFs, ETF, and smaller amounts of other assets, with a changing mix of equity and fixed income. I expect RNCOX to be much more volatile than RNSIX.
I also am grateful to David for highlighting these funds.
Comments
I also am grateful to David for highlighting these funds.