Overview

Recent News  more»

Fri 4/19/2024	RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. Announce Preferred Dividends
Thu 4/4/2024	RiverNorth Capital and Income Fund, Inc. Announces Final Results of Repurchase Offer
Mon 4/1/2024	RiverNorth Closed-End Funds Declare Monthly Distributions
Mon 3/25/2024	Update: RiverNorth Capital and Income Fund, Inc. Non-Transferable Rights Offering
Fri 3/15/2024	RiverNorth Capital and Income Fund, Inc. Announces Non-Transferable Rights Offering
Thu 1/4/2024	RiverNorth Capital and Income Fund, Inc. Announces Final Results of Repurchase Offer
Tue 1/2/2024	RiverNorth Closed-End Funds Declare Monthly Distributions

Investment Objective & Strategy Overview

The objective of RiverNorth Capital and Income Fund, Inc. is to seek a high level of current income.

The Fund seeks to achieve its investment objective by investing in credit instruments, including a portfolio of securities of specialty finance and other Financial companies that the Fund's Advisor, RiverNorth Capital Management, LLC ("RiverNorth") believes offer attractive opportunities for income.

The Fund may invest in income-producing securities of any maturity and credit quality, including below investment grade, and equity securities, including exchange traded funds and registered closed-end funds.

Fund Highlights

• Broadened investment mandate aims to significantly enhance the risk-return profile of the portfolio
• Exposure to a broad range of credit-orientated products, with an emphasis on liquid and tradeable products
• Seeks short duration¹ to minimize interest rate and credit risk
• Attractive yield² profile potential
• Experienced manager with a long record of managing price inefficiencies

Structural Highlights

• Quarterly repurchase offers equal to 5-25% of the Fund's net asset value (NAV)
• Distribution yield³ (based on the March 28th, 2024 closing price of $15.86) of 10.58%

Fund Information as of 3.31.2024

NYSE Symbol	RSF
CUSIP	76882B108
Inception Date	9.22.2016
Structure	Closed-end interval fund
Net Assets	$57.24M
Managed Assets*	$106.14M
Repurchase Program**	Quarterly offer to repurchase 5%-25% of shares
Distribution Frequency	Monthly
Tax Reporting	1099
Net Asset Value (NAV)	Daily
Distribution Yield3	10.58%
Leverage Ratio4	46.1%

* Managed assets include assets attributable to leverage.

** Pursuant to Rule 23c-3 of the 1940 Act, the Fund must make a quarterly repurchase offer of at least 5% of the Fund's outstanding shares. The Fund's Board of Directors will set the actual level of the quarterly repurchase offers. It is possible that a repurchase offer may be oversubscribed, in which case shareholders may only have a portion of their shares repurchased. Subject to the above, quarterly repurchase offers and liquidity are limited.

Performance

† Annualized

* RSF Inception Date: 9.22.2016

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. 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. Other fees and expenses are applicable to an investment in this fund.

The Fund operating expense of 1.95% is equal to the net expense ratio minus the Loan Servicing Fee incurred by the Fund. The Fund's Management Fee is 1.25%.

The Fund began trading on the NYSE effective June 12, 2019 under the ticker symbol RSF. Formerly the Fund was known as RMPLX and was purchased directly. The performance data above reflects shares of the Fund when it was known as RMPLX. Longer dated market price returns are a blend of the NAV return until June 11th, 2019 combined with the market price return thereafter.

Portfolio

Totals may not add up to 100% due to rounding.

Portfolio asset allocations are estimates made by the adviser and are subject to change.

Distributions

• Read the Press Release: RiverNorth Closed-End Funds Declare Monthly Distributions
• Distribution dates are estimates and subject to change.

Show Current Year Only Show All

Repurchase Offer Schedule

• Repurchase Amount: Up to 5% of the Fund's Outstanding Shares of Common Stock
• Form N-23c-3 Notification of Repurchase Offer

Event	Date*
Q3 - Repurchase Offer Mailing Date	Monday, June 3, 2024
Q3 - Repurchase Offer Deadline	Wednesday, July 3, 2024
Q4 - Repurchase Offer Mailing Date	Tuesday, September 3, 2024
Q4 - Repurchase Offer Deadline	Wednesday, October 2, 2024

* Tentative, pending approval by the Board of Directors of RiverNorth Capital and Income Fund, Inc.

Preferred Issue

Preferred Issue: Distributions

Show Current Year Only Show All

The distribution was calculated based on the preferred shares Liquidation Preference of $25.00 per share and most current distribution rate per share of 5.875%. Distributions may be paid from sources of income other than ordinary income, such as net realized short-term capital gains, net realized long term capital gains and return of capital. The current distribution has been paid from ordinary income. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the Fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholders' 1099-DIV forms after the end of the year.

Portfolio Management

Disclosures & Definitions

See the prospectus for a more detailed description of Fund risks. Investing involves risk. Principal loss is possible.

The profitability of specialty finance and other financial companies is largely dependent upon the availability and cost of capital funds, and may fluctuate significantly in response to changes in interest rates, as well as changes in general economic conditions If the borrower of Alternative Credit (as defined below) in which the Fund invests is unable to make its payments on a loan, the Fund may be greatly limited in its ability to recover any outstanding principal and interest under such loan, as (among other reasons) the Fund may not have direct recourse against the borrower or may otherwise be limited in its ability to directly enforce its rights under the loan, whether through the borrower or the platform through which such loan was originated, the loan may be unsecured or under collateralized, and/or it may be impracticable to commence a legal proceeding against the defaulting borrower. Substantially all of the Alternative Credit in which the Fund invests will not be guaranteed or insured by a third party. In addition, the Alternative Credit Instruments in which the Fund may invest will not be backed by any governmental authority. Prospective borrowers supply a variety of information regarding the purpose of the loan, income, occupation and employment status (as applicable) to the lending platforms. As a general matter, platforms do not verify the majority of this information, which may be incomplete, inaccurate, false or misleading. Prospective borrowers may misrepresent any of the information they provide to the platforms, including their intentions for the use of the loan proceeds. Alternative Credit Instruments are generally not rated by the nationally recognized statistical rating organizations (“NRSROs”). Such unrated instruments, however, are considered to be comparable in quality to securities falling into any of the ratings categories used by such NRSROs to classify “junk” bonds (i.e., below investment grade securities). Accordingly, the Fund's unrated Alternative Credit Instrument investments constitute highly risky and speculative investments similar to investments in “junk” bonds, notwithstanding that the Fund is not permitted to invest in loans that are of subprime quality at the time of investment. Although the Fund is not permitted to invest in loans that are of subprime quality at the time of investment, an investment in the Fund's Shares should be considered speculative and involving a high degree of risk, including the risk of loss of investment. There can be no assurance that payments due on underlying loans, including Alternative Credit, will be made.

Diversification does not ensure a profit or a guarantee against loss.

¹ Duration is calculated by RiverNorth and is a measure of the sensitivity of the price of a fixed income investment to a change in interest rates. Duration is expressed as a number of years.

² Yield is the income return on an investment. This refers to the interest or dividends received from a security and is usually expressed annually as a percentage based on the investment's cost, its current market value or its face value.

³ Based on the Fund's most recent distribution date of March 28th, 2024 market price (MP) $15.86 and most current distribution rate per share of $0.13980. Distributions have been paid from sources of income other than ordinary income, such as net realized short-term capital gains, net realized long-term capital gains and return of capital. Based on current estimates, we anticipate the current distribution has been paid from ordinary income. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the Fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time. These estimates may not match the final tax characterization (for the full year's distributions) contained in shareholders' 1099-DIV forms after the end of the year.

⁴ Leverage ratio is the amount outstanding for all debt and preferred securities divided by the Total Managed Assets of the Fund.

⁵ The Bloomberg US Aggregate Bond Index is an unmanaged index of investment-grade fixed-rate debt issues with maturities of at least one year. The index cannot be invested in directly and does not reflect fees and expenses. The Bloomberg US Aggregate Bond Index is listed for broad market comparison purposes only. The securities in the index do not correlate to those held in the Fund. Leverage creates risks which may adversely affect returns.

As of the prospectus dated 3.23.2020, the Adviser has agreed to waive or reimburse expenses of the Fund (other than brokerage fees and commissions; loan servicing fees; borrowing costs such as (i) interest and (ii) dividends on securities sold short; taxes; indirect expenses incurred by the underlying funds in which the Fund may invest; the cost of leverage; and extraordinary expenses) to the extent necessary to limit the Fund's total annual operating expenses at 1.95% of the average daily Managed Assets for that period. The Adviser may recover from the Fund expenses reimbursed for three years after the date of the payment or waiver if the Fund's operating expenses, including the recovered expenses, falls below the expense cap. The amount of any recovery, taken together with the fees and expenses of the Fund at the time of recovery, will not exceed the lesser of (i) the expense cap in effect at the time the expenses were reimbursed, and (ii) the expense cap in effect at the time the recovery is sought. Subject to the foregoing waiver or reimbursement of Fund expenses, the Shareholders will indirectly bear all of the expenses of the Fund. The net expense ratio represents the percentage paid by investors.

CFA^® is a trademark owned by the CFA Institute.

Past performance is no guarantee of future results.

Closed-End Fund Audit Committee Charter