The Fund's prospectus contains important information about the Fund's investment objectives, potential risks, management fees, charges and expenses, and other information and should be read carefully before investing. You may obtain a current copy of the Fund's prospectus by calling 1-888-848-7569. The Fund's past performance does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-888-848-7569.

The views expressed in the following news articles are those of the author as of the time of publishing and are not intended as a forecast or as investment recommendations. Information provided with respect to the Fund's Portfolio Holdings, Sector Weightings, Number of Holdings, Performance and Expense Ratios are as of the dates described in the article and are subject to change at any time.

RiverNorth Core Opportunity Fund (RNCOX)

The RiverNorth Core Opportunity Fund's Total Annual Fund Operating Expenses as disclosed in the prospectus is 2.39%. The Adviser has contractually agreed to defer the collection of fees and/or reimburse expenses, but only to the extent necessary to limit Total Annual Fund Operating Expenses (excluding brokerage fees and commissions; borrowing costs, such as (a) interest and (b) dividends on securities sold short; taxes; indirect expenses incurred by the Underlying Funds in which the Fund invests, and extraordinary expenses) to 1.60% of the average daily net assets of the Fund through January 31, 2013. The annualized net expense ratio in the annual report dated September 30, 2011 is 1.53%.

	2011 Q4	1-Year (12 months)	3-Year (annualized)	Since Inception (annualized)
RiverNorth Core Opportunity Fund	6.57%	-2.18%	19.62%	6.32%
Blend Index	7.54%	4.69%	11.60%	2.75%
S&P 500 Index	11.82%	2.11%	14.11%	-0.37%
RiverNorth Closed-End Fund Index	6.18%	-2.93%	21.15%	0.64%

RiverNorth/DoubleLine Strategic Income Fund (RNDLX/RNSIX)

The Total Annual Fund Operating Expense as disclosed in the prospectus: 1.20% (RNSIX), 1.45% (RNDLX). The Adviser has contractually agreed to defer the collection of fees and/or reimburse expenses, but only to the extent necessary to limit Total Annual Fund Operating Expenses (excluding brokerage fees and commissions; borrowing costs, such as (a) interest and (b) dividends on securities sold short; taxes; indirect expenses incurred by the Underlying Funds in which the funds invest; and extraordinary expenses) to 0.95% (RNSIX) and 1.20% (RNDLX) of the average daily net assets of the funds through January 31, 2013. The RiverNorth/DoubleLine Strategic Income Fund is new and has limited operating history. Inception date 12/30/2010.

	1-Month	3-Month	YTD	Since Inception (annualized)
RiverNorth/DoubleLine Strategic Income Fund, Class I	1.18%	2.04%	11.20%	11.16%
RiverNorth/DoubleLine Strategic Income Fund, Class R	1.16%	1.98%	11.04%	11.01%
Barclays Capital U.S. Aggregate Bond Index	1.10%	1.12%	7.84%	8.19%

Additional Disclosures

Blend Index consists of 60% S&P 500 Index and 40% Barclays Aggregate Bond Index. S&P 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy based on the changing aggregate market value of these 500 stocks. The Barclays Capital U.S. Aggregate Bond Index is an unmanaged index of investment-grade fixed-rate debt issues with maturities of at least one year. This unmanaged index does not reflect fees and expenses. The S&P 500 and Blend Indices are indices only and cannot be invested in directly.

The RiverNorth Closed-end Fund Index measures the performance of the taxable closed-end fund market through a representative 75 funds. The index rebalances every 12 months and is calculated using the total return of the underlying investments. Please see www.rivernorth.com for more information. The RiverNorth Closed-end Fund Index is an index only and cannot be invested in directly.

Performance data quoted represents past performance, which is not a guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. You can obtain performance data current to the most recent month end by calling (888) 848-7569. Total return measures net investment income and capital gain or loss from portfolio investments. All performance shown assumes reinvestment of dividends and capital gains distributions.

Per their prospectuses, the Funds' primary benchmark is the S&P 500. The Barclays Capital Aggregate Bond Index is a secondary benchmark.

Investments in closed end funds are subject to investment risk, including the possible loss of the entire principal amount that you invest. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. At any point in time an investment may be worth less than the original investment, even after considering the reinvestment of fund dividends and distributions. Closed-end funds also carry price risk, or the risk that shares may trade at prices different from their net asset values.

An investment in an exchange-traded fund (ETF) generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange traded) that has the same investment objectives, strategies, and policies. The price of an ETF can fluctuate up or down, and the Fund could lose money investing in an ETF if the prices of the securities owned by the ETF go down. In addition, ETFs may be subject to the following risks that do not apply to conventional funds: (i) the market price of an ETF's shares may trade above or below their net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate, the shares are delisted from the exchange, or the activation of market-wide "circuit breakers" (which are tied to large decreases in stock prices) halts stock trading generally.

Investments in international markets present special risks including currency fluctuation, the potential for diplomatic and political instability, regulatory and liquidity risks, foreign taxation and differences in auditing and other financial standards. Risks of foreign investing are generally intensified for investments in emerging markets.

The Funds are subject to the risks associated their investments in emerging market securities, which tend to be more volatile and less liquid than securities traded in developed countries.