Pricing & Terms

Pricing

-Baseline pricing is the usual “2 and 20” (management fee of 2% plus a performance fee of 20% of the net gain, with a high watermark to avoid double charging).

-Currently “1 and 10” are offered to attract capital, i.e., 1% management fee and 10% performance fee.

Subscriptions

-Subscriptions to the beginning of the day of each calendar month.

-Subscriptions accepted in ALL CURRENCIES and IN KIND (transfer of securities).

Redemptions

-Redemptions within 30 days notice to the end of each calendar month.

-Next day redemptions can be accommodated but entail a 2% penalty distributed to the remaining investors to compensate them for the temporary imbalance in their asset allocation toward illiquid assets. The penalty scales linearly between 0-30 days notice, such that no penalty imposed if with 30 days notice.

NAV calculation

NAV is calculated every month, for each of the days of that month.

Reporting and Tax Statements

The Investment Manager provides a balance statement and income statement to each investor as regards his or her Share Series in the Fund. The net income per period is broken down to Taxable Income and to non-taxable / taxable at another rate Capital Gain. You can take this, as is, to your tax authorities at year end.

Minimum Investment

-$200k.

-$100k trial can be accepted.

-Subscriptions in installments to the 1st of each month are welcomed, e.g., $50k to Apr 1st, $50k to May 1st, …