has gained broader distribution for its DoubleLine
-subadvised mutual fund that launched in December. The RiverNorth/DoubleLine Strategic Income Fund
landed on the
platforms at LPL
, Raymond James
within the last couple of weeks,
chief investment officer Patrick Galley
told The MFWire.com
The fund, which launched December 30, 2010, crossed the $100-million AUM mark as of Monday. Galley said RiverNorth might look at closing the fund to new investors when it reaches $1 billion.
"We think the combination of our firm and DoubleLine provides for a really compelling story and strategy," he said, of hitting the $100-million milestone.
RiverNorth does not have an in-house wholesaling team.
, whom RiverNorth hired last year as transfer agent, fund administrator and accountant, will help distribute the RiverNorth/DoubleLine Strategic Income Fund, Galley said.
RiverNorth offers one other mutual fund, Core Opportunity
, which launched in December 2006.
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