Disclaimer

You understand that you are solely responsible for reviewing any fund, its offering and any statements made by a fund or its manager and for performing such due diligence as you may deem appropriate, including consulting your own legal and tax advisers, and that any information provided by Hennessee Group LLC shall not form the primary basis of your investment decision.

  This material is based upon information Hennessee Group LLC believes reliable.  However, Hennessee Group LLC does not represent that it is accurate, complete, and/or up-to-date and, if applicable, time indicated.  Hennessee Group LLC does not accept any responsibility to update any opinion, analyses or other information contained in the material.

  This material is for your general information only and is not an offer or solicitation to buy or sell any security including any interest in a hedge fund.  Hedge funds have eligibility requirements for participation, generally beginning at a net worth greater than $1.5 million (including a spouse) or $5 million for companies.

  It is Hennessee Group’s policy to have written advisory agreements. An investment advisory relationship between Hennessee Group and any entity or person will commence upon execution of the advisory agreement.  Hennessee Group will not provide advice or enter into an advisory relationship until a written advisory contract is signed by the client.

Past Performance is No Guarantee of Future Results.

Hedge Fund Disclosures:

  • Hedge funds are not appropriate for all investors. Hedge funds can be speculative and may involve a high degree of risk, above and beyond those associated with traditional asset classes. An investor could lose all or a substantial amount of their investment. Investors should consider hedge funds as a supplement to an overall investment strategy.

  • Hedge funds are not mutual funds and are not subject to the same regulatory requirements as mutual funds. Investments in hedge funds are not federally insured by the Federal Deposit Insurance Corporation or any other government agency. Investments in hedge funds are not deposits or obligations of any bank or insured depository institution.

  • Hedge funds may use leverage and other speculative investment practices that may increase the risk of investment loss. Hedge funds may have performance that is volatile. Hedge funds may own investments that are illiquid.

  • There is no secondary market for the investor’s interest in the fund and none is expected to develop. There may be restrictions on redeeming interests in the fund.

  • The fund’s fees and expenses may offset the fund’s trading profits.

  • The fund manager has total trading authority over the fund. The use of a single advisor applying generally similar trading programs could result in a lack of diversification and, consequentially, higher risk.

  • Hedge funds may involve complex tax strategies and there may be delays in distributing tax information to investors

  • Some hedge funds can execute a substantial portion of the trades executed for the fund on a foreign exchange.

  • The amount of disclosure received by Hennessee Group for manager evaluation may vary by manager and is only performed once. Transparency varies by manager. The manager evaluation process Hennessee Group employs may vary by manager. No notice of variations among managers will be given to client and the process described herein may be changed without notice. Not all of manager's representations are corroborated. Business judgment is applied when necessary. Manager evaluation and monitoring is a process consisting of quantitative and qualitative elements. The process is a combination of "science and art“ (i.e., quantitative analysis and business experience). Manager evaluation process may vary from time to time without giving notice or seeking consent. The evaluation process is not directed at providing assurances with respect to internal controls, nor to the detection of fraud, errors, or illegal acts. The evaluation process consists of gathering quantitative and qualitative information through an interview with personnel of the hedge fund.

  • Monitoring (i.e., Manager Performance Monitor and Portfolio Performance Monitor) is performed on an ongoing basis.

 

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