Robinson Tax Advantaged Income Fund Crosses $100 Million in Assets

April 18th, 2016

New York, New York – April 18, 2016 – Liberty Street Advisors, Inc. (“Liberty Street”) has announced that the Robinson Tax Advantaged Income Fund (the “Fund”) has crossed $100 Million in assets under management. Liberty Street is the investment advisor to the Fund.  Robinson Capital Management, LLC is the Fund’s sub-advisor.

 “We are quite pleased with not only the performance but also the growth of the Robinson Tax Advantaged Income Fund,” said James Robinson, the Fund’s portfolio manager and the founder of Robinson Capital Management.  “Robinson Capital Management has for many years sought to provide investors access to a diversified portfolio of what we believe to be undervalued or inefficiently priced Municipal Closed End Funds. It is particularly gratifying to see how financial advisers and forward-thinking investors have embraced the Fund’s investment approach and have continued to commit assets to the Fund.” In addition to the Fund, Robinson Capital Management also sub-advises the Robinson Opportunistic Income Fund which invests in closed end funds across all sectors, seeking to provide total return.

The Robinson Tax Advantaged Income Fund is available at UBS, Morgan Stanley, and various independent broker dealers as well as through major custodians including Charles Schwab, Fidelity, Pershing, & TD Ameritrade.

About the Fund

The Fund is an open-end mutual fund investing primarily in Closed-End Funds (“CEF”), which invest primarily in municipal bonds (“Municipal CEFs”). A substantial portion of the income generated to the Fund is expected to consist primarily of tax advantaged income by way of the underlying CEF’s investments in municipal bonds. Robinson Capital Management provides an experienced professional management team with extensive knowledge of the CEF and municipal bond markets. The investment strategy first identifies a portfolio of Municipal CEFs to generate tax advantaged income to the Fund. In addition, Robinson seeks to identify CEFs that trade at discounts to their true market value of the CEFs’ municipal bond holdings, and utilizes a number of trading techniques to unlock its estimate of the value of the premiums/discounts in the CEFs. Seeking to hedge against interest rate risk and mitigate the Fund’s exposure to duration risk, Robinson may use short positions – primarily in the U.S. Treasury Futures contracts of various maturities.

About Liberty Street Advisors

Liberty Street offers investors mutual funds which are sub-advised by third party boutique independent managers who possess a particular expertise in their space. Through its selective multi-manager family of funds, Liberty Street provides access to timely investment strategies designed to help investors and financial advisors meet the challenges of today’s market environment. With approximately $2.4 billion in assets under management as of March 31, 2016, Liberty Street is the advisor to the Center Coast MLP Focus Fund, the West Loop Realty Fund, the Robinson Tax Advantaged Fund, the Robinson Opportunistic Income Fund, the Braddock Multi-Strategy Income Fund, and the Horizon Spin-off & Corporate Restructuring Fund.

About Robinson Capital Management, LLC

Founded in December 2012, Robinson is an independent investment advisor focused on wealth preservation for institutions, family offices and high net worth individuals. The firm specializes in developing alternative value investing strategies, particularly though closed-end funds, that pursue the generation of higher cash flow yields than, and have lower correlations with stock and bond markets. Robinson Capital’s CEO is James Robinson, a veteran bond trader who formerly headed Michigan’s largest private money management firm and specialized in developing investment management solutions for leading insurance companies.

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus and summary prospectus, a copy of which may be obtained by calling (800) 207-7108 or by visiting the Fund’s website at www.libertystreetfunds.com.

Please read the prospectus and summary prospectus carefully before you invest.

 

For information about the Fund, please contact your Financial Advisor, or contact the Fund directly at (800) 207-7108. 

Financial Professionals only may call: (212) 240-9726

Media Relations please contact: (703) 933-3437

 

RISK AND OTHER DISCLOSURES:

An investment in the Fund is subject to risk, including the possible loss of principal amount invested and including, but not limited to, the following risks, which are more fully described in the prospectus: the Fund will invest in shares of closed-end funds (CEFs). Investments in CEFs are subject to various risks, including reliance on management’s ability to manage the CEF portfolio, fluctuation in the market value of CEF shares, and the Fund bearing a pro rata share of the fees and expenses of each underlying CEF in which the Fund invests. The underlying CEFs in which the Fund invests will invest primarily in municipal bonds. Litigation, legislation or other political events, local business or economic conditions or the bankruptcy of the issuer could have a significant effect on the ability of an issuer of municipal bonds to make payments of principal and/or interest. Changes related to taxation, legislation or the rights of municipal security holders can significantly affect municipal bonds.

 

The underlying CEFs in which the Fund invests will invest primarily in fixed income securities. Interest rates have been and continue to be low relative to historical levels. A rise in interest rates could negatively impact the value of the Fund’s shares. Generally, fixed income securities decrease in value if interest rates rise, and increase in value if interest rates fall, with longer-term securities being more sensitive than shorter-term securities. These risks are greater during periods of rising inflation. It is expected that the CEFs in which the Fund will invest will be leveraged as a result of borrowing or other investment techniques. As a result, the Fund will be exposed indirectly to leverage, and may expose the Fund to higher volatility in the market value of such CEF and the possibility that the Fund’s long-term returns will be diminished. In addition, regulations implemented pursuant to the Dodd-Frank Act, particularly the Volcker Rule, may in the future hinder or restrict a CEF’s ability to maintain leverage; which in turn may reduce the total return and tax exempt income generated by the underlying CEFs in which the Fund will invest and may cause a reduction in the value of the Fund’s shares. There is no guarantee that the Fund’s income will be exempt from regular federal income taxes.

 

Events occurring after the date of issuance of a municipal bond or after a CEF’s acquisition of a municipal bond may result in a determination that interest is subject to federal income tax. Federal or state changes in the tax treatment of municipal bonds may make municipal bonds less attractive as investments and cause them to decline in value. The Fund and the CEFs held by the Fund may use derivative instruments, futures contracts, options, swap agreements, and/or sell securities short. Each of these instruments and strategies involve risks different from direct investments in the underlying assets. Risks include: futures contracts may cause the value of the Fund’s shares to be more volatile and expose the Fund to leverage and tracking risks; the Fund may not fully benefit from or may lose money on option or shorting strategies; swaps may be leveraged, are subject to counterparty risk and may be difficult to value or liquidate. The Fund’s turnover rate may be high. A high turnover rate may lead to higher transaction costs, a greater number of taxable transactions, and negatively affect the Fund’s performance. As a non-diversified fund, the Fund may focus its assets in the securities of fewer issuers, which exposes the Fund to greater market risk than if its assets were diversified among a greater number of issuers. Diversification does not assure a profit or protect against a loss.

 

The Fund may not be suitable for all investors. We encourage you to consult with appropriate tax and financial professionals before considering an investment in the Fund.

 

Distributed by Foreside Fund Services, LLC. www.foreside.com

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