RiverPark Short Term High Yield uses an unconventional process of identifying high-yield issues with shortened maturities owing to an expected structural change to their underlying businesses. This limits its investment universe and results in a relatively concentrated portfolio. Its unusual approach coupled with an experienced but lean team warrant a Morningstar Analyst Rating of Neutral for all share classes.
Will RPHIX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable RPHIX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the RPHIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of RPHIX’s parent organization’s priorities and whether they’re in line with investors’ interests.