RiverParks Large Growth Fund Retail Shares
RPXFX
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- RiverPark Large Growth Fund Retail Shares (RPXFX) is an open-end mutual fund that seeks long-term capital appreciation through investments primarily in equity securities of large capitalization companies with above-average growth prospects. The Fund invests at least 80% of its net assets plus any borrowings for investment purposes in securities of large-cap companies defined as those with market capitalizations exceeding $5 billion, focusing mainly on common stocks of U.S. issuers but with the flexibility to invest internationally; it employs a fundamental research-driven process emphasizing industries benefiting from long-term secular changes, companies with sustainable competitive advantages, high returns on invested capital, expanding free cash flow, and strong management teams, while applying strict valuation disciplines to purchase at attractive prices. Retail Class shares carry a net expense ratio of 1.25% after contractual fee waivers through at least January 31, 2025, with a minimum initial investment of $1,000, and are available through financial intermediaries in the United States. The Fund operates within the large growth segment of the equity mutual fund industry, targeting institutional and retail investors seeking exposure to high-conviction growth stocks such as top holdings including Microsoft Corp., NVIDIA Corp., Apple Inc., Amazon.com Inc., and Eli Lilly and Co., which collectively represent approximately 29% of the portfolio as of recent data. Founded as part of RiverPark Funds Trust on September 30, 2010, the Fund is advised by RiverPark Advisors, LLC, a subsidiary of the privately held RiverPark financial services group established in 2006 and headquartered in New York, which manages over $1 billion in assets across a family of equity and fixed income mutual funds. Conrad van Tienhoven serves as the sole portfolio manager since December 1, 2022, following his prior role as assistant portfolio manager since the Fund's inception; the total net assets stand at approximately $43 million, with Retail Class assets at $12.44 million. Recent developments include the extension of the advisory fee waiver and expense reimbursement agreement through at least January 31, 2025, to cap Retail Class expenses at 1.25%; portfolio turnover remained low at 20% for the fiscal year ended September 30, 2023; and RiverPark Advisors continues sub-advisory partnerships for affiliated funds such as the RiverPark/Wedgewood Fund and new launches like the RiverPark/Next Century Large Growth Fund in January 2024, reflecting the group's ongoing strategic expansion in growth equity strategies without direct changes to RPXFX operations.