Shareholder Report | 12 Months Ended |
Sep. 30, 2024 USD ($) Holding |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | RIVERNORTH FUNDS |
Entity Central Index Key | 0001370177 |
Entity Investment Company Type | N-1A |
Document Period End Date | Sep. 30, 2024 |
C000145024 | |
Shareholder Report [Line Items] | |
Fund Name | RIVERNORTH CORE OPPORTUNITY FUND |
Class Name | CLASS I |
Trading Symbol | RNCIX |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.rivernorth.com/investments/rncix-rncox/ |
Additional Information Phone Number | 888.848.7569 |
Additional Information Website | https://www.rivernorth.com/investments/rncix-rncox/ |
Expenses [Text Block] | WHAT WERE THE FUND'S COST FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) CLASS NAME COST OF A $10,000 INVESTMENT COST PAID AS A PERCENTAGE OF A $10,000 INVESTMENT RiverNorth Core Opportunity Fund - Class I $163 1.58% |
Expenses Paid, Amount | $ 163 |
Expense Ratio, Percent | 1.58% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? For the fiscal year ended September 30, 2024, the Fund’s exposure to closed-end funds (CEFs) was the primary driver of returns. Deconstructing the Fund’s CEF portfolio further, exposure to the underlying net asset values (NAV) contributed the most to performance over the period, with CEF discount narrowing also contributing significant positive returns. The Fund also experienced positive absolute contribution from its exposure to exchange traded funds , investment company debt and business development companies. However, these asset classes contributed negatively to performance on a relative basis when compared against the Fund’s primary benchmark. CEF investor sentiment continues to improve, bolstered to some extent by the Federal Reserve's September interest rate cut, which was the first since the pandemic. While CEF discounts have moved towards longer-term averages, we believe there are still opportunities for further discount narrowing from here. To that end, we believe the Fund is positioned well to take advantage of CEF trading opportunities as they present themselves. Additionally, our view is that owning CEFs trading at a discount is an excellent source of incremental yield and potential capital appreciation, relative to owning the underlying assets directly. |
Line Graph [Table Text Block] | Class I - $200,717 S&P 500 Total Return Index - $350,980 Bloomberg US Aggregate Bond Index - $120,045 60% S&P 500 and 40% Bloomberg US Aggregate - $234,326 9/30/2014 $100,000 $100,000 $100,000 $100,000 3/31/2015 $103,232 $105,930 $103,430 $105,022 9/30/2015 $92,499 $99,385 $102,941 $100,953 3/31/2016 $97,175 $107,818 $105,457 $107,220 9/30/2016 $106,608 $114,721 $108,286 $112,491 3/31/2017 $113,928 $126,333 $105,922 $118,220 9/30/2017 $122,395 $136,070 $108,365 $124,753 3/31/2018 $125,363 $144,010 $107,196 $128,634 9/30/2018 $129,638 $160,440 $107,047 $137,214 3/31/2019 $129,266 $157,686 $111,999 $138,648 9/30/2019 $134,190 $167,265 $118,069 $146,954 3/31/2020 $106,509 $146,682 $122,005 $138,106 9/30/2020 $130,169 $192,605 $126,315 $165,324 3/31/2021 $162,959 $229,340 $122,872 $181,898 9/30/2021 $173,072 $250,395 $125,185 $193,290 3/31/2022 $169,797 $265,223 $117,770 $195,541 9/30/2022 $144,162 $211,654 $106,908 $164,592 3/31/2023 $160,011 $244,725 $112,136 $183,312 9/30/2023 $160,553 $257,408 $107,597 $186,003 3/31/2024 $187,755 $317,852 $114,041 $216,251 9/30/2024 $200,717 $350,980 $120,045 $234,326 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS RiverNorth Core Opportunity Fund 1 Year 5 Year 10 Year Class I 25.02% 8.39% 7.22% S&P 500 Total Return Index 36.35% 15.98% 13.38% Bloomberg US Aggregate Bond Index 11.57% 0.33% 1.84% 60% S&P 500 and 40% Bloomberg US Aggregate 25.98% 9.78% 8.89% |
Holdings Count | Holding | 44 |
Advisory Fees Paid, Amount | $ 455,333 |
InvestmentCompanyPortfolioTurnover | 41% |
Additional Fund Statistics [Text Block] | FUND STATISTICS Total Net Assets $45,657,824 # of Portfolio Holdings 44 Portfolio Turnover Rate (Class I) 41% Advisory Fees Paid $455,333 |
Holdings [Text Block] | INVESTMENT VEHICLE ALLOCATION As of September 30, 2024 (percentages are based on total investments) Value Value Closed-End Funds 71.51% Short-Term Investments 13.63% Exchange Traded Funds 7.95% U.S. Corporate Bonds 2.57% U.S. Government Bonds and Notes 2.19% Closed-End Funds - Preferred Shares 0.84% Business Development Companies 0.80% Business Development Company Notes 0.43% Warrants 0.01% Rights 0.00% |
Material Fund Change [Text Block] | MATERIAL FUND CHANGES There have been no material Fund changes during the reporting period. |
C000037794 | |
Shareholder Report [Line Items] | |
Fund Name | RIVERNORTH CORE OPPORTUNITY FUND |
Class Name | CLASS R |
Trading Symbol | RNCOX |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.rivernorth.com/investments/rncix-rncox/ |
Additional Information Phone Number | 888.848.7569 |
Additional Information Website | https://www.rivernorth.com/investments/rncix-rncox/ |
Expenses [Text Block] | WHAT WERE THE FUND'S COST FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) CLASS NAME COST OF A $10,000 INVESTMENT COST PAID AS A PERCENTAGE OF A $10,000 INVESTMENT RiverNorth Core Opportunity Fund - Class R $190 1.84% |
Expenses Paid, Amount | $ 190 |
Expense Ratio, Percent | 1.84% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? For the fiscal year ended September 30, 2024, the Fund’s exposure to closed-end funds (CEFs) was the primary driver of returns. Deconstructing the Fund’s CEF portfolio further, exposure to the underlying net asset values (NAV) contributed the most to performance over the period, with CEF discount narrowing also contributing significant positive returns. The Fund also experienced positive absolute contribution from its exposure to exchange traded funds , investment company debt and business development companies. However, these asset classes contributed negatively to performance on a relative basis when compared against the Fund’s primary benchmark. CEF investor sentiment continues to improve, bolstered to some extent by the Federal Reserve's September interest rate cut, which was the first since the pandemic. While CEF discounts have moved towards longer-term averages, we believe there are still opportunities for further discount narrowing from here. To that end, we believe the Fund is positioned well to take advantage of CEF trading opportunities as they present themselves. Additionally, our view is that owning CEFs trading at a discount is an excellent source of incremental yield and potential capital appreciation, relative to owning the underlying assets directly. |
Line Graph [Table Text Block] | Class R - $19,612 S&P 500 Total Return Index - $35,098 Bloomberg US Aggregate Bond Index - $12,004 60% S&P 500 and 40% Bloomberg US Aggregate - $23,433 9/30/2014 $10,000 $10,000 $10,000 $10,000 3/31/2015 $10,316 $10,593 $10,343 $10,502 9/30/2015 $9,233 $9,939 $10,294 $10,095 3/31/2016 $9,688 $10,782 $10,546 $10,722 9/30/2016 $10,615 $11,472 $10,829 $11,249 3/31/2017 $11,329 $12,633 $10,592 $11,822 9/30/2017 $12,155 $13,607 $10,836 $12,475 3/31/2018 $12,443 $14,401 $10,720 $12,863 9/30/2018 $12,849 $16,044 $10,705 $13,721 3/31/2019 $12,794 $15,769 $11,200 $13,865 9/30/2019 $13,264 $16,727 $11,807 $14,695 3/31/2020 $10,518 $14,668 $12,201 $13,811 9/30/2020 $12,835 $19,260 $12,632 $16,532 3/31/2021 $16,043 $22,934 $12,287 $18,190 9/30/2021 $17,016 $25,040 $12,518 $19,329 3/31/2022 $16,677 $26,522 $11,777 $19,554 9/30/2022 $14,145 $21,165 $10,691 $16,459 3/31/2023 $15,678 $24,472 $11,214 $18,331 9/30/2023 $15,711 $25,741 $10,760 $18,600 3/31/2024 $18,346 $31,785 $11,404 $21,625 9/30/2024 $19,612 $35,098 $12,004 $23,433 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS RiverNorth Core Opportunity Fund 1 Year 5 Year 10 Year Class R 24.83% 8.14% 6.97% S&P 500 Total Return Index 36.35% 15.98% 13.38% Bloomberg US Aggregate Bond Index 11.57% 0.33% 1.84% 60% S&P 500 and 40% Bloomberg US Aggregate 25.98% 9.78% 8.89% |
Holdings Count | Holding | 44 |
Advisory Fees Paid, Amount | $ 455,333 |
InvestmentCompanyPortfolioTurnover | 41% |
Additional Fund Statistics [Text Block] | FUND STATISTICS Total Net Assets $45,657,824 # of Portfolio Holdings 44 Portfolio Turnover Rate (Class R) 41% Advisory Fees Paid $455,333 |
Holdings [Text Block] | INVESTMENT VEHICLE ALLOCATION As of September 30, 2024 (percentages are based on total investments) Value Value Closed-End Funds 71.51% Short-Term Investments 13.63% Exchange Traded Funds 7.95% U.S. Corporate Bonds 2.57% U.S. Government Bonds and Notes 2.19% Closed-End Funds - Preferred Shares 0.84% Business Development Companies 0.80% Business Development Company Notes 0.43% Warrants 0.01% Rights 0.00% |
Material Fund Change [Text Block] | MATERIAL FUND CHANGES There have been no material Fund changes during the reporting period. |
C000095455 | |
Shareholder Report [Line Items] | |
Fund Name | RIVERNORTH/DOUBLELINE STRATEGIC INCOME FUND |
Class Name | CLASS I |
Trading Symbol | RNSIX |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.rivernorth.com/investments/rnsix-rndlx/ |
Additional Information Phone Number | 888.848.7569 |
Additional Information Website | https://www.rivernorth.com/investments/rnsix-rndlx/ |
Expenses [Text Block] | WHAT WERE THE FUND'S COST FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) CLASS NAME COST OF A $10,000 INVESTMENT COST PAID AS A PERCENTAGE OF A $10,000 INVESTMENT RiverNorth/DoubleLine Strategic Income Fund - Class I $97 0.94% |
Expenses Paid, Amount | $ 97 |
Expense Ratio, Percent | 0.94% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? For the fiscal year ended September 30, 2024, the Fund’s exposure to the Tactical Closed-End Fund Income strategy, managed by RiverNorth Capital Management, LLC was the primary driver of returns. Looking within the strategy, exposure to closed-end fund ("CEF") net asset values combined with discount narrowing were the largest drivers of returns. The strategy’s exposure to investment company debt contributed positively to absolute returns, however it detracted on a relative basis as compared to the Fund’s primary benchmark. The Core Fixed Income Strategy and the Opportunistic Income Strategy, both managed by DoubleLine Capital, LP, also contributed positively to returns relative to the Fund’s benchmark. We believe each of these strategies has a compelling investment thesis. The Opportunistic Fixed Income strategy provides exposure to a diversified portfolio of traditional and bespoke credit assets overseen by what we believe to be is one of the top fixed income managers in the world. As CEF investor sentiment continues to improve, the Tactical Closed-End Fund Income strategy may be poised to benefit from further discount narrowing. The Core Fixed Income strategy provides exposure to a diversified portfolio of fixed income assets while also providing capital that can be rapidly deployed in the event of further capital market or interest rate volatility. |
Line Graph [Table Text Block] | Class I - $143,338 Bloomberg US Aggregate Bond Index - $120,045 9/30/2014 $100,000 $100,000 3/31/2015 $102,404 $103,430 9/30/2015 $100,036 $102,941 3/31/2016 $103,073 $105,457 9/30/2016 $108,941 $108,286 3/31/2017 $110,790 $105,922 9/30/2017 $114,031 $108,365 3/31/2018 $113,525 $107,196 9/30/2018 $114,627 $107,047 3/31/2019 $118,461 $111,999 9/30/2019 $123,911 $118,069 3/31/2020 $116,187 $122,005 9/30/2020 $128,262 $126,315 3/31/2021 $134,012 $122,872 9/30/2021 $137,901 $125,185 3/31/2022 $131,880 $117,770 9/30/2022 $118,544 $106,908 3/31/2023 $124,139 $112,136 9/30/2023 $122,694 $107,597 3/31/2024 $134,610 $114,041 9/30/2024 $143,338 $120,045 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS RiverNorth/DoubleLine Strategic Income Fund 1 Year 5 Year 10 Year Class I 16.82% 2.96% 3.67% Bloomberg US Aggregate Bond Index 11.57% 0.33% 1.84% |
Holdings Count | Holding | 1,266 |
Advisory Fees Paid, Amount | $ 9,225,218 |
InvestmentCompanyPortfolioTurnover | 84% |
Additional Fund Statistics [Text Block] | FUND STATISTICS Total Net Assets $1,279,994,692 # of Portfolio Holdings 1,266 Portfolio Turnover Rate (Class I) 84% Advisory Fees Paid $9,225,218 |
Holdings [Text Block] | STRATEGY ALLOCATION As of September 30, 2024 (percentages are based on total investments) Value Value DoubleLine Core Fixed Income 28.96% Tactical Closed-End Fund Income Strategy (RiverNorth) 32.84% DoubleLine Opportunistic Fixed Income 38.20% |
Material Fund Change [Text Block] | MATERIAL FUND CHANGES There have been no material Fund changes during the reporting period. |
C000095454 | |
Shareholder Report [Line Items] | |
Fund Name | RIVERNORTH/DOUBLELINE STRATEGIC INCOME FUND |
Class Name | CLASS R |
Trading Symbol | RNDLX |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.rivernorth.com/investments/rnsix-rndlx/ |
Additional Information Phone Number | 888.848.7569 |
Additional Information Website | https://www.rivernorth.com/investments/rnsix-rndlx/ |
Expenses [Text Block] | WHAT WERE THE FUND'S COST FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) CLASS NAME COST OF A $10,000 INVESTMENT COST PAID AS A PERCENTAGE OF A $10,000 INVESTMENT RiverNorth/DoubleLine Strategic Income Fund - Class R $123 1.19% |
Expenses Paid, Amount | $ 123 |
Expense Ratio, Percent | 1.19% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? For the fiscal year ended September 30, 2024, the Fund’s exposure to the Tactical Closed-End Fund Income strategy, managed by RiverNorth Capital Management, LLC was the primary driver of returns. Looking within the strategy, exposure to closed-end fund ("CEF") net asset values combined with discount narrowing were the largest drivers of returns. The strategy’s exposure to investment company debt contributed positively to absolute returns, however it detracted on a relative basis as compared to the Fund’s primary benchmark. The Core Fixed Income Strategy and the Opportunistic Income Strategy, both managed by DoubleLine Capital, LP, also contributed positively to returns relative to the Fund’s benchmark. We believe each of these strategies has a compelling investment thesis. The Opportunistic Fixed Income strategy provides exposure to a diversified portfolio of traditional and bespoke credit assets overseen by what we believe to be is one of the top fixed income managers in the world. As CEF investor sentiment continues to improve, the Tactical Closed-End Fund Income strategy may be poised to benefit from further discount narrowing. The Core Fixed Income strategy provides exposure to a diversified portfolio of fixed income assets while also providing capital that can be rapidly deployed in the event of further capital market or interest rate volatility. |
Line Graph [Table Text Block] | Class R - $13,984 Bloomberg US Aggregate Bond Index - $12,004 9/30/2014 $10,000 $10,000 3/31/2015 $10,237 $10,343 9/30/2015 $9,988 $10,294 3/31/2016 $10,268 $10,546 9/30/2016 $10,849 $10,829 3/31/2017 $11,019 $10,592 9/30/2017 $11,326 $10,836 3/31/2018 $11,262 $10,720 9/30/2018 $11,346 $10,705 3/31/2019 $11,721 $11,200 9/30/2019 $12,244 $11,807 3/31/2020 $11,468 $12,201 9/30/2020 $12,642 $12,632 3/31/2021 $13,191 $12,287 9/30/2021 $13,556 $12,518 3/31/2022 $12,949 $11,777 9/30/2022 $11,627 $10,691 3/31/2023 $12,145 $11,214 9/30/2023 $12,003 $10,760 3/31/2024 $13,149 $11,404 9/30/2024 $13,984 $12,004 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS RiverNorth/DoubleLine Strategic Income Fund 1 Year 5 Year 10 Year Class R 16.50% 2.69% 3.41% Bloomberg US Aggregate Bond Index 11.57% 0.33% 1.84% |
Holdings Count | Holding | 1,266 |
Advisory Fees Paid, Amount | $ 9,225,218 |
InvestmentCompanyPortfolioTurnover | 84% |
Additional Fund Statistics [Text Block] | FUND STATISTICS Total Net Assets $1,279,994,692 # of Portfolio Holdings 1,266 Portfolio Turnover Rate (Class R) 84% Advisory Fees Paid $9,225,218 |
Holdings [Text Block] | STRATEGY ALLOCATION As of September 30, 2024 (percentages are based on total investments) Value Value DoubleLine Core Fixed Income 28.96% Tactical Closed-End Fund Income Strategy (RiverNorth) 32.84% DoubleLine Opportunistic Fixed Income 38.20% |
Material Fund Change [Text Block] | MATERIAL FUND CHANGES There have been no material Fund changes during the reporting period. |
C000119956 | |
Shareholder Report [Line Items] | |
Fund Name | RIVERNORTH/OAKTREE HIGH INCOME FUND |
Class Name | CLASS I |
Trading Symbol | RNHIX |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.rivernorth.com/investments/rnhix-rnotx/ |
Additional Information Phone Number | 888.848.7569 |
Additional Information Website | https://www.rivernorth.com/investments/rnhix-rnotx/ |
Expenses [Text Block] | WHAT WERE THE FUND'S COST FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) CLASS NAME COST OF A $10,000 INVESTMENT COST PAID AS A PERCENTAGE OF A $10,000 INVESTMENT RiverNorth/Oaktree High Income Fund - Class I $138 1.35% |
Expenses Paid, Amount | $ 138 |
Expense Ratio, Percent | 1.35% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? For the fiscal year ended September 30, 2024, the Fund’s exposure to high yield bonds was the primary driver of returns. The Fund’s exposure to investment company debt also contributed positively to returns over the fiscal year. Trading activities within the RiverNorth Capital Management, LLC sleeve detracted from returns relative to the Fund’s primary benchmark for the fiscal year. The Fund continues to offer investors access to Oaktree Fund Advisers, LLC, in our opinion one of the world’s top credit managers, while also providing a unique source of income and potential capital appreciation by overlaying opportunistic exposure to closed end funds, business development companies, and investment company debt. |
Line Graph [Table Text Block] | Class I - $149,005 Bloomberg US Aggregate Bond Index - $120,045 ICE BofAML Non-Financial Developed HY Constrained Index - $152,106 CS Leveraged Loan Index - $158,632 9/30/2014 $100,000 $100,000 $100,000 $100,000 3/31/2015 $101,235 $103,430 $98,783 $101,691 9/30/2015 $96,497 $102,941 $94,521 $101,233 3/31/2016 $98,317 $105,457 $96,175 $100,566 9/30/2016 $106,230 $108,286 $106,025 $106,622 3/31/2017 $110,657 $105,922 $109,833 $110,333 9/30/2017 $113,780 $108,365 $116,444 $112,339 3/31/2018 $114,056 $107,196 $116,865 $115,452 9/30/2018 $116,306 $107,047 $118,881 $118,228 3/31/2019 $117,980 $111,999 $120,624 $118,915 9/30/2019 $121,944 $118,069 $124,087 $121,909 3/31/2020 $107,715 $122,005 $109,932 $107,607 9/30/2020 $121,921 $126,315 $127,671 $122,927 3/31/2021 $129,184 $122,872 $137,360 $129,956 9/30/2021 $132,349 $125,185 $141,418 $133,324 3/31/2022 $129,602 $117,770 $134,581 $134,140 9/30/2022 $119,069 $106,908 $116,358 $129,829 3/31/2023 $128,176 $112,136 $128,520 $136,989 9/30/2023 $131,681 $107,597 $130,782 $146,024 3/31/2024 $141,753 $114,041 $142,290 $153,979 9/30/2024 $149,005 $120,045 $152,106 $158,632 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS RiverNorth/Oaktree High Income Fund 1 Year 5 Year 10 Year Class I 13.16% 4.09% 4.07% Bloomberg US Aggregate Bond Index 11.57% 0.33% 1.84% ICE BofAML Non-Financial Developed HY Constrained Index 16.30% 4.16% 4.28% CS Leveraged Loan Index 8.63% 5.41% 4.72% |
Holdings Count | Holding | 438 |
Advisory Fees Paid, Amount | $ 541,416 |
InvestmentCompanyPortfolioTurnover | 57% |
Additional Fund Statistics [Text Block] | FUND STATISTICS Total Net Assets $55,809,203 # of Portfolio Holdings 438 Portfolio Turnover Rate (Class I) 57% Advisory Fees Paid $541,416 |
Holdings [Text Block] | STRATEGY ALLOCATION As of September 30, 2024 (percentages are based on total investments) Value Value Global Bank Loan/High Yield Strategy (Oaktree) 84.94% Tactical Closed-End Fund Income Strategy (RiverNorth) 15.06% |
Material Fund Change [Text Block] | MATERIAL FUND CHANGES There have been no material Fund changes during the reporting period. |
C000119955 | |
Shareholder Report [Line Items] | |
Fund Name | RIVERNORTH/OAKTREE HIGH INCOME FUND |
Class Name | CLASS R |
Trading Symbol | RNOTX |
Annual or Semi-Annual Statement [Text Block] | Annual Shareholder Report |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.rivernorth.com/investments/rnhix-rnotx/ |
Additional Information Phone Number | 888.848.7569 |
Additional Information Website | https://www.rivernorth.com/investments/rnhix-rnotx/ |
Expenses [Text Block] | WHAT WERE THE FUND'S COST FOR THE LAST YEAR? (based on a hypothetical $10,000 investment) CLASS NAME COST OF A $10,000 INVESTMENT COST PAID AS A PERCENTAGE OF A $10,000 INVESTMENT RiverNorth/Oaktree High Income Fund - Class R $164 1.60% |
Expenses Paid, Amount | $ 164 |
Expense Ratio, Percent | 1.60% |
Factors Affecting Performance [Text Block] | HOW DID THE FUND PERFORM LAST YEAR? For the fiscal year ended September 30, 2024, the Fund’s exposure to high yield bonds was the primary driver of returns. The Fund’s exposure to investment company debt also contributed positively to returns over the fiscal year. Trading activities within the RiverNorth Capital Management, LLC sleeve detracted from returns relative to the Fund’s primary benchmark for the fiscal year. The Fund continues to offer investors access to Oaktree Fund Advisers, LLC, in our opinion one of the world’s top credit managers, while also providing a unique source of income and potential capital appreciation by overlaying opportunistic exposure to closed end funds, business development companies, and investment company debt. |
Line Graph [Table Text Block] | Class R - $14,537 Bloomberg US Aggregate Bond Index - $12,004 ICE BofAML Non-Financial Developed HY Constrained Index - $15,211 CS Leveraged Loan Index - $15,863 9/30/2014 $10,000 $10,000 $10,000 $10,000 3/31/2015 $10,111 $10,343 $9,878 $10,169 9/30/2015 $9,624 $10,294 $9,452 $10,123 3/31/2016 $9,793 $10,546 $9,618 $10,057 9/30/2016 $10,570 $10,829 $10,602 $10,662 3/31/2017 $10,995 $10,592 $10,983 $11,033 9/30/2017 $11,292 $10,836 $11,644 $11,234 3/31/2018 $11,317 $10,720 $11,686 $11,545 9/30/2018 $11,514 $10,705 $11,888 $11,823 3/31/2019 $11,665 $11,200 $12,062 $11,891 9/30/2019 $12,042 $11,807 $12,409 $12,191 3/31/2020 $10,622 $12,201 $10,993 $10,761 9/30/2020 $12,010 $12,632 $12,767 $12,293 3/31/2021 $12,710 $12,287 $13,736 $12,996 9/30/2021 $13,008 $12,518 $14,142 $13,332 3/31/2022 $12,722 $11,777 $13,458 $13,414 9/30/2022 $11,672 $10,691 $11,636 $12,983 3/31/2023 $12,550 $11,214 $12,852 $13,699 9/30/2023 $12,878 $10,760 $13,078 $14,602 3/31/2024 $13,862 $11,404 $14,229 $15,398 9/30/2024 $14,537 $12,004 $15,211 $15,863 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS RiverNorth/Oaktree High Income Fund 1 Year 5 Year 10 Year Class R 12.88% 3.84% 3.81% Bloomberg US Aggregate Bond Index 11.57% 0.33% 1.84% ICE BofAML Non-Financial Developed HY Constrained Index 16.30% 4.16% 4.28% CS Leveraged Loan Index 8.63% 5.41% 4.72% |
Holdings Count | Holding | 438 |
Advisory Fees Paid, Amount | $ 541,416 |
InvestmentCompanyPortfolioTurnover | 57% |
Additional Fund Statistics [Text Block] | FUND STATISTICS Total Net Assets $55,809,203 # of Portfolio Holdings 438 Portfolio Turnover Rate (Class R) 57% Advisory Fees Paid $541,416 |
Holdings [Text Block] | STRATEGY ALLOCATION As of September 30, 2024 (percentages are based on total investments) Value Value Global Bank Loan/High Yield Strategy (Oaktree) 84.94% Tactical Closed-End Fund Income Strategy (RiverNorth) 15.06% |
Material Fund Change [Text Block] | MATERIAL FUND CHANGES There have been no material Fund changes during the reporting period. |