3Q24 Quarterly Markets Review: CEF, BDC & SPAC

Financial Professional Use Only

Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for all investors. This information is provided for informational purposes only and should not be considered tax, legal, or investment advice. References to specific securities, asset classes, and financial markets are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations. Opinions referenced are as of the day presented and are subject to change due to changes in the market, economic conditions, or changes in the legal and/or regulatory environment and may not necessarily come to pass.

Risk Information: The price at which a closed-end fund trades often varies from its net asset value (NAV). Some funds have market prices below their NAVs – referred to as a discount. Conversely, some funds have market prices above their NAVs – referred to as a premium. Investing involves risk. Principal loss is possible.

Special purpose acquisition companies (“SPACs”) are collective investment structures that pool capital in order to seek potential acquisition opportunities. SPACs and similar entities, often referred to as “blank check” companies, have no operating history or ongoing business other than to seek a potential acquisition. Certain SPACs may seek acquisitions only in limited industries or regions, which may increase the volatility of their prices. Investments in SPACs may be illiquid and/or be subject to restrictions on resale. To the extent the SPAC is invested in cash or similar securities, this may impact a Fund’s ability to meet its investment objective.

Diversification does not ensure a profit or a guarantee against loss.

Past performance is no guarantee of future results.

Investors should consider the investment objectives, risks, charges and expenses of RiverNorth’s mutual funds (or Investment Companies) carefully before investing. To obtain a prospectus containing this and other important information, please call 888.848.7569 or visit rivernorth.com. Please read the prospectus carefully before investing.

Open-end mutual funds are distributed by ALPS Distributors Inc., FINRA Member firm. RiverNorth is not affiliated with ALPS.

NOT FDIC INSURED – NO BANK GUARANTEE – MAY LOSE VALUE