LOS ANGELES, April 12, 2017 (GLOBE NEWSWIRE) -- B. Riley Asset Management (BRAM), a division of B. Riley Capital Management, LLC, a wholly owned subsidiary of B. Riley Financial Inc. (NASDAQ: RILY ), announced today that its mutual fund, B. Riley Diversified Equity Fund (BRDZX) (the “Fund”), has been awarded a four out of five star ranking by Morningstar based on total returns. 1 The Fund, which was ranked in the top 6% out of 616 funds for the period April 1, 2016 to March 31, 2017 in the small-capitalization growth category, was developed by the Advisor, BRAM, on February 10, 2014. Through investments in a selection of “best ideas” from the Research Group, which is a part of B. Riley & Co., LLC, a wholly owned subsidiary of B. Riley Financial, Inc., the Fund looks for compelling growth opportunities across the market capitalization spectrum, including those found in smaller and overlooked companies.
“With independent thinking at the core of B. Riley & Co.’s approach, investments in the B. Riley Diversified Equity Fund offer access to ideas outside of the mainstream,” said Bryant Riley, CEO of B. Riley Capital Management. “The success and growth of the fund since its start signifies the strength of the Research Group’s capabilities.”
“The Fund, which began with internal capital has seen continued growth over the past three years,” said Chuck Hastings, Portfolio Manager of B. Riley Capital Management. “This is largely due to the combination of deep fundamental research of a team of analysts with a rules-based approach to portfolio management. We’re happy to continue applying this rigorous approach to the proprietary selection process based on selections vetted by these experienced analysts.”
1 Morningstar rankings are determined as follows: the top 10% of funds in each category with the highest risk-adjusted return receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receives 1 star. The Morningstar rating is for the Institutional share class only; other classes may have different performance characteristics. Since B. Riley Asset Management has entered into a written expense limitation agreement, fees were waived and expenses were advanced during the period on which the ranking is based. Without this waiver, total return would have been lower.
About B. Riley Diversified Equity Fund
To bring its expertise to a wider range of individual and institutional investors, the Advisor, B. Riley Asset Management, a division of B. Riley Capital Management, LLC, developed the B. Riley Diversified Equity Fund on February 10, 2014. Through investments in a selection of “best ideas” from the B. Riley & Co. Research Group, the B. Riley Diversified Equity Fund pursues an attractive level of risk-adjusted return for investors. To learn more about the B. Riley Diversified Equity Fund, please visit www.brileyamfunds.com .
B. Riley Financial, Inc. (NASDAQ: RILY ) is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The Company operates through several wholly-owned subsidiaries, including B. Riley & Co., LLC ( www.brileyco.com ), Great American Group, LLC ( www.greatamerican.com ), Great American Capital Partners ( www.gacapitalpartners.com ) and B. Riley Capital Management, LLC, an SEC Registered Investment Advisor, (which includes B. Riley Asset Management and B. Riley Wealth Management, ( www.brileywealth.com ). Since the acquisition of United Online, Inc. ( www.untd.com ) in July 2016, B. Riley Financial, Inc. also provides internet access services under the NetZero and Juno brands.
An investor should consider the investment objective, risks, and charges and expenses of the Fund carefully before investing. Past performance is not a guarantee of future results. Investment return and principal value of an investment in a Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The Fund’s prospectus and summary prospectus contains this and other information about the Fund and should be read carefully before investing. An investor can obtain a copy of the B. Riley Diversified Equity Fund prospectus and summary prospectus online or by calling (310) 689-2244.
Chuck Hastings (310) 689-2244 chastings@brileyam.com
