New products introduced over the last week include a reopening of the RiverNorth/DoubleLine Strategy Income Fund and five fund conversions from BMO Global Asset Management.
In addition, Commonfund Capital closed its ninth natural resources fund.
Here are the latest developments of interest to advisors:
1) RiverNorth to Reopen DoubleLine-Subadvised Fund to New Investors
RiverNorth announced recently that it plans to reopen its RiverNorth/DoubleLine Strategy Income Fund (RNSIX). The fund, subadvised by DoubleLine Capital Management and its founder, Jeffrey Gundlach, was closed to new investors at the end of March in 2012, so that its assets would not reach a level that would negatively impact the fund’s investment strategy.
It is being reopened, according to RiverNorth, based on the company’s belief that inflows from new investors can be effectively invested while adhering to the fund’s strategy.
2) BMO Global Asset Management Announces Fund Conversions