Company Press Release

RiverPark Announces Further Steps to Limit Flows to RiverPark Short Term High Yield Fund

Advisors who represent current investors can no longer put new clients in the fund; existing shareholders can still add to positions Fund seeks to remain nimble

December 02, 2013 04:16 PM Eastern Standard Time

NEW YORK--RiverPark Advisors, LLC announced today that it has taken further steps to limit flows of new money to the RiverPark Short Term High Yield Fund (RPHYX – retail; RPHIX – institutional). As of the close of the market today, financial advisors with clients currently in the fund will no longer be allowed put new clients into the fund. Existing shareholders will retain the right to add to their positions. The RiverPark Short Term High Yield Fund had approximately $872 million in assets under management as of November 29, 2013.

“We have been delighted with the response to the RiverPark Short Term High Yield Fund, but we think at this point it’s in the best interest of our existing shareholders to close the fund to all new investors,” said Morty Schaja, co-founder and chief executive officer at RiverPark. “This will allow portfolio manager David Sherman to keep the fund nimble, and to continue to take advantage of investment opportunities as they arise.”

In October, RiverPark launched its second fixed income fund, the RiverPark Strategic Income Fund (RSIVX - Retail; RSIIX - Institutional), which seeks to deliver high current income and capital appreciation, consistent with conservation of capital. The RiverPark Strategic Income Fund, which takes a “go anywhere” approach, will also seek to remain nimble and because of its small size believes it can purchase securities with above market yields with limited risk if held to maturity.

In its first two months, the fund has gathered $88 million in assets through November 29, 2013, mostly from RiverPark Short Term High Yield fund shareholders. Both the Strategic Income and Short Term High Yield funds are managed by David Sherman of Cohanzick Management.

As of November 29, 2013 RiverPark had approximately $2.5 billion in assets under management. In addition to the RiverPark Short Term High Yield and the RiverPark Strategic Income Fund, the fund family includes: the 5-star (Morningstar) RiverPark/ Wedgewood Fund (RWGFX – retail; RWGIX – Institutional); the 5-star (Morningstar) 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 Structural Alpha Fund (RSAFX - Retail; RSAIX - 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 or full prospectus, which may be obtained by visiting www.riverparkfunds.comor calling 1-888-564-4517. Please read the prospectus carefully before investing.

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. Bonds and bond funds are subject to interest rate risk and will decline in value as interest rates rise. High yield bonds and non-investment grade securities involve greater risks of default or downgrade and are more volatile than investment grade securities, due to the speculative nature of their investments. The Fund may invest in securities of companies that are experiencing significant financial or business difficulties, including companies involved in bankruptcy or other reorganization and liquidation proceedings. Although such investments may result in significant returns to the Fund, they involve a substantial degree of risk. There can be no assurance that the Fund will achieve its stated objectives.

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