RiverNorth

RiverNorth open-end and exchange-traded products are more expensive than similarly distributed funds at other highly-rated asset managers, on average in the second most expensive quintile of category peers. The higher expense profile contributes negatively to the firm's overall stewardship rating and creates a larger performance hurdle. With an average asset-weighted tenure of nine years among the longest-tenured managers at RiverNorth, the firm is on par with peers. Seasoned teams tend to have more experience to draw upon should they need to weather turbulent market conditions. Despite other redeeming qualities as a firm, RiverNorth has seen some disruption among its portfolio management ranks in the past five years, denoted by elevated turnover compared to peer asset-management firms. Long-term stability tends to support positive results.