RiverPark/Wedgewood Fund Tops $1 Billion in Assets

RiverPark/Wedgewood Fund Tops $1 Billion in Assets

Focused large cap growth fund hits milestone less than three years after launch;

Portfolio manager David Rolfe takes "contrarian growth" approach

NEW YORK--(BUSINESS WIRE)-- The RiverPark/Wedgewood Fund (RWGFX - Retail; RWGIX - Institutional), a focused large cap, open-end growth equity fund sponsored by RiverPark Advisors, LLC, and subadvised by Wedgewood Partners, has reached $1 billion in assets under management as of June 21, 2013, it was announced today.

"We introduced the RiverPark Fund family in October 2010 into a highly uncertain market environment. 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," said Morty Schaja, chief executive officer and co-founder of RiverPark.

The RiverPark/Wedgewood Fund is managed by David Rolfe, chief investment officer at St. Louis, Missouri-based Wedgewood Partners. The fund seeks to make investments in about 20-22 companies, with market capitalizations in excess of $5 billion, which it believes have above-average growth prospects, and that are market leaders with long-term sustainable competitive advantages. While Wedgewood invests in growth companies, it believes that valuation is the key to generating attractive returns over the long-term, with portfolio manager Rolfe seeking to acquire "great businesses at attractive prices." Unlike many growth investors, Wedgewood is not a momentum investor but rather a contrarian growth investor, with portfolio turnover that generally experiences less than 25 percent annually.

RiverPark utilizes a mix of in-house portfolio managers and sub-advisors to oversee its funds. "Over the years, I have come to know great managers with unique investment approaches and long-term track records, and they have become terrific partners for our sub-advised funds," Schaja said. "Through the RiverPark funds, these strategies are becoming available to some investors for the first time. It has been gratifying to see the acceptance from both financial advisors and their clients."

As of June 21, 2013 RiverPark had approximately $1.9 billion in assets under management. In addition to the RiverPark/Wedgewood Fund, RiverPark funds include the RiverPark Large Growth Fund (RPXFX-Retail; RPXIX - Institutional); the RiverPark Long/Short Opportunity Fund (RLSFX-Retail; RLSIX - Institutional); the RiverPark/Gargoyle Hedged Value Fund (RGHVX-Retail; RGHIX - Institutional); and the RiverPark Short Term High Yield Fund (RPHYX-Retail; RPHIX - Institutional).

The RiverPark Funds may be purchased directly by application to the Funds. For more information on the funds, please visit www.RiverParkFunds.com, or call Matt Kelly at (212) 484-2103.

About RiverPark Advisors LLC

RiverPark Advisors, LLC is a New York-based investment advisory company and the sponsor of the RiverPark family of mutual funds. More information is available at www.riverparkfunds.com.

To determine if a Fund is an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and other information may be found in the Fund's summary and full prospectuses, which may be obtained by clickinghereor calling 1-888-564-4517. Please read the prospectus carefully before investing.

The RiverPark/Wedgewood Fund's investment objective seeks long-term capital appreciation. There can be no assurance that the Fund will achieve its objective. Mutual fund investing involves risk including possible loss of principal. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. Narrowly focused investments typically exhibit higher volatility. The use of options, swaps and derivatives by the Fund has the potential to significantly increase the Fund's volatility. There can be no assurance that the Fund will achieve its stated objectives. Diversification does not protect against market risk. See the prospectus for a complete description of the principal risks.

The RiverPark Long/Short Opportunity Fund uses leverage. If the securities decrease in value, the Fund may suffer a greater loss than would have resulted without the use of leverage. With, short sales, losses are potentially unlimited and the expenses involved with the short strategy may impact the performance of the Fund. The Funds are non-diversified.

The RiverPark funds are distributed by SEI Investments Distribution Co., which is not affiliated with Wedgewood Partners, RiverPark Advisors, LLC, or their affiliates.

MacMillan Communications
Mike MacMillan/Chris Sullivan

KEYWORDS: United States North America New York


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