William Webb

RiverNorth's fees for separately managed accounts (SMAs) typically range from 0.50% to 1.50% of the account's assets each year. The specific fee depends on the size of the account and is negotiable. For private funds, RiverNorth charges a base fee based on a percentage of the market value of assets, plus a performance fee of up to 30% of net performance, subject to a high-water mark. The base fee for private funds may range from 0.75% to 1.50%, unless otherwise negotiated. For assets placed in private or registered funds managed by RiverNorth, clients are not charged the annual advisory fee for that portion of their portfolio, although performance or incentive fees are typically still earned.