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Investment Strategy:
- RVP’s disciplined approach looks for value across sectors among the 1,000 closed-end funds and exchange traded funds (ETFs). We do not invest in individual common stocks.
- While funds trading at a deep discount to net asset value (NAV) are a good starting point, we consider over 20 different variables when evaluating both fixed income and equity closed-end funds. We utilize numerous proprietary screening tools to uncover opportunities.
- Our firm strongly believes in the “mean reversion” of markets. We focus on out of favor sectors that are priced at a discount to the overall market, and to their historical valuation. ETFs are an extremely cost effective, well diversified way to employ this strategy.
- RVP’s focus is preserving capital and delivering after-tax total return. Our after-tax approach makes RVP an excellent alternative to less tax efficient vehicles such as mutual funds and hedge funds.
- RVP’s objective is to outperform our balanced and equity benchmarks by 200-300 bps annually, net of fees. In fixed income, we strive to add 75-100 bps net, in totally return, over a fixed income benchmark, with a meaningful portion of income being tax-exempt. The absolute return strategy seeks to deliver a positive total return irrespective of market conditions.
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