RiverNorth Opportunities Fund board approves new advisory agreement with RiverNorth
The Fund's Board of Directors approved a new investment advisory agreement with RiverNorth Capital Management, LLC, subject to shareholder approval. RiverNorth, currently the Fund's sub-adviser, has made day-to-day investment decisions since the Fund's inception, and the Fund's name, investment objective, strategy, portfolio management and ticker symbol will not change. Shareholders will vote on the proposal at a special meeting in the second quarter of 2022.
- Board approved the new advisory agreement with RiverNorth on March 17, 2022, subject to shareholder approval.
- Special shareholder meeting to vote on the agreement is planned for the second quarter of 2022.
- If approved, the transition from ALPS Advisors to RiverNorth is expected in the third quarter of 2022.
- The Fund had approximately $286 million of net assets and 17.5 million shares outstanding as of December 31, 2021.