2014 RiverNorth Core Opportunity Fund Review and 2015 Outlook

On 2.3.2015, RiverNorth Portfolio Specialist Allen Webb and CIO Patrick Galley discussed the 2014 year-in-review for the RiverNorth Core Opportunity Fund and the outlook for 2015.

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Video recorded 2/3/2015. Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for all investors. This information is provided for informational purposes only and should not be considered tax, legal, or investment advice. References to specific securities, asset classes, and financial markets are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations. Opinions referenced are as of the day recorded and are subject to change due to changes in the market, economic conditions, or changes in the legal and/or regulatory environment and may not necessarily come to pass.

Fund Risks

See prospectus for more detailed description of risks.

Convertible Security Risk: The market value of convertible securities adjusts with interest rates and the value of the underlying stock.

Exchange Traded Note Risk: Exchange traded notes represent unsecured debt of the issuer and may be influenced by interest rates, credit ratings of the issuer or changes in value of the reference index.

Fixed Income Risk: The market value of fixed income securities adjusts with interest rates and the securities are subject to issuer default.

Foreign/Emerging Market Risk: Foreign securities may be subject to inefficient or volatile markets, different regulatory regimes or different tax policies. These risks may be enhanced in emerging markets.

Management Risk: There is no guarantee that the adviser's investment decisions will produce the desired results.

Market Risk: Economic conditions, interest rates and political events may affect the securities markets.

REIT Risk: The value of REITs changes with the value of the underlying properties and changes in interest rates and are subject to additional fees.

Short Sale Risk: Short positions are speculative, are subject to transaction costs and are riskier than long positions in securities.

Small-Cap Risk: Small-cap companies are more susceptible to failure, are often thinly traded and have more volatile stock prices.

Structured Notes Risk: Because of the imbedded derivative feature, structured notes are subject to more risk than investing in a simple note or bond.

Swap Risk: Swap agreements are subject to counterparty default risk and may not perform as intended.

Underlying Fund Risk: Underlying funds have additional fees, may utilize leverage, may not correlate to an intended index and may trade at a discount to their net asset values.


Beta reflects the sensitivity of a fund's return to fluctuations in the market index. A beta of 0.5 reflects half of the market's volatility as represented by the Fund's primary benchmark, while a beta of 2.0 reflects twice the volatility.

Blend Index consists of 60% S&P 500 Index and 40% Barclays Capital U.S. 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, Barclays Capital U.S. Aggregate Bond Index and Blend Indices are indices only and cannot be invested in directly.

Alpha is a measure of a fund's actual returns and expected performance, given its level of risk (as measured by beta).

Alpha was calculated using since inception returns benchmarked against the Blend Index based upon quarterly total returns.

Standard deviation is a measure of the volatility of a fund's returns.

The price at which a closed-end fund trades often varies from its NAV. Some funds have market prices below their net asset values - referred to as a discount. Conversely, some funds have market prices above their net asset values - referred to as a premium.

Apple (AAPL) was not a holding of the Fund as of 9/30/2014.

Past performance is not a guarantee of future results. Diversification does not ensure a profit or guarantee against loss. Data from the charts shown is as of 12/31/14.

Investing involves risk. Principal loss is possible.

An investor should consider the investment objectives, risks, charges and expenses of the Funds (or of the Investment Company) carefully before investing. To obtain a prospectus containing this or other information, please call (888) 848-7569 or download the file from www.rivernorth.com. Read the prospectus carefully before you invest.

The Funds are distributed by ALPS Distributors, Inc. Member FINRA.

ALPS Distributors, Inc. is not affiliated with RiverNorth Capital Management, LLC, DoubleLine Capital LP or Oaktree Capital Management, L.P.


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