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RiverPark Short-Term High Yield update 1, major insider buying

David_Snowball
edited August 2011 in Fund Discussions
David Sherman purchased [a huge number of] additional shares of RPHYX after Monday's rout. He seems in pretty good spirits and we're scheduled to talk Thursday morning about the market and his corner of it. (An earlier version of this note specified an amount and he seemed a bit embarrassed by the public disclosure so I've shifted to the demure but accurate 'huge number' construction.]

The fund's down a bit more than a half percent since making its monthly distribution (which accounts for most of its NAV changes). For those keeping score, since August 1, RPHYX is down 0.7%, Fidelity Floating Rate High Income (a floating-rate loan fund that some funds here guessed would parallel RiverPark) is down 3.7%, their new Global High-Income fund is down 5% and Fidelity High Income is down 6%.

Mr. Sherman's reflections of the fund's positioning appears in update 2. My original profile of the fund is http://www.mutualfundobserver.com/article.php?article=riverpark-short-term-high-yield-fund-rphyx-july-2011

Comments

  • Riley
    Thanks for the update on RPHYX. There's a lot of interest in it right here.
    BTW, I am so glad you brought RNDLX to my attention, it's holding up better than any other fund I own.
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