Investment Products

• This strategy is currently available as a 40 Act Mutual Fund (Income Opportunities Fund) with a 7-plus-year track record (inception date:  08/21/2018).
  
• This strategy is suitable for various other pooled investment vehicles including Interval Fund and ETF; it is also available to institutional investors as a Separately Managed Account.

Certain investment vehicles may not be suitable for all investors.

• This strategy is currently available to accredited investors as a 3(c)(1) Private Fund and to institutional investors as a Separately Managed Account.

• The hedge fund structure allows the LCD strategy to use leverage and go further out the credit and liquidity spectrum in an attempt to capture higher returns by taking more risk.

• The LCD strategy may be more concentrated and, therefore, less diversified at times, potentially resulting in higher return volatility.

The Fund may use leverage, which can magnify both gains and losses. Leverage increases volatility and may result in substantial losses, including loss of invested capital. Adverse market movements may trigger margin calls or forced liquidations at unfavorable prices, potentially impairing the Fund’s performance and ability to meet its investment objectives.

• Structured Credit is part of the opportunity set available to banks, although under-exploited.
  
• The genesis of our Bank Securities Advisory product was the realization that we could give banks efficient access to the Structured Credit market they would otherwise not have.
  
• Could also be tailored for an insurance company, adjusted for their regulatory constraints and risk/return objectives.
  
• The short duration, high quality, Structured Credit strategy employed by this product could be suitable for an enhanced cash ETF strategy.

The strategy is targeted at financial institutions in regulated industries such as banking and insurance and is not intended for retail investors.