RiverPark Long/Short Opportunity Fund

Performance

Daily Returns

As of 8/26/2014 YTD NAV % Change
RLSFX -1.01% $10.76 -0.19%
RLSIX -0.83% $10.81 -0.18%

Monthly Returns as of July 31, 2014

Name (Inception Date) Current
Month
YTD 1 Year 3 Years* 5 Years* Since
Inception*
Gross
Expense
Net
Expense
RiverPark Long/Short Opportunity Fund Retail (RLSFX) (3/30/2012)
0.00% -1.56% 9.86% 9.18% N/A 8.88% 3.52% 2.00%
RiverPark Long/Short Opportunity Fund Institutional (RLSIX) (3/30/2012)
0.09% -1.38% 10.14% 9.35% N/A 8.99% 3.36% 1.85%

Quarterly Returns as of June 30, 2014

Name (Inception Date) QTD YTD 1 Year 3 Years* 5 Years* Since
Inception*
Gross
Expense
Net
Expense
RiverPark Long/Short Opportunity Fund Retail (RLSFX) (3/30/2012)
0.09% -1.56% 10.65% 10.25% N/A 9.05% 3.52% 2.00%
RiverPark Long/Short Opportunity Fund Institutional (RLSIX) (3/30/2012)
0.09% -1.47% 10.84% 10.39% N/A 9.13% 3.36% 1.85%

Annualized Performance since inception of the Mutual Fund (3/30/12) was 3.65% for RLSIX and 3.48% for RLSFX.


* Total returns presented for periods less than 1 year are cumulative, returns for periods greater than 1 year are annualized.

The performance data quoted for periods prior to March 30, 2012 is that of the Predecessor Fund. The Predecessor Fund commenced operations prior to the periods shown. The Predecessor Fund was not a registered mutual fund and was not subject to the same investment and tax restrictions as the Fund. If it had been, the Predecessor Fund's performance might have been higher. Performance shown for periods less than one year is cumulative; periods of one year and greater are annualized. Inception Date of the Predecessor Fund is 9/30/2009.

The performance quoted herein represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost, and current performance may be higher or lower than the performance.

Net Expense Ratio does not include interest, brokerage commissions, dividends on short sales and interest expense on securities sold short, acquired fund fees and expenses and extraordinary expenses. Additionally, Net Expense Ratio reflects the ability of the adviser to recover all or a portion of prior waivers, which would result in higher expenses for the investor. This option is available contractually to the adviser until January 31, 2015. Please reference the prospectus for additional information.

The Fund offers two classes of shares. Retail Class shares have a shareholder services fee of up to 0.25% per annum of average daily net assets. Institutional Class shares have no shareholder services fee. For more information, please see the prospectus.