The Fundamentals of Hedge Fund Management Book

The Fundamentals of Hedge Fund Management Book
  • Page 1

    HedgeAnswers 141 South Ave., Suite 8, Fanwood, NJ 07023 (908) 680-0010 W: www.hedgeanswers.com DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. MATERIAL FROM: THE FUNDAMENTALS OF HEDGE FUND M...

  • Page 2

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. For the Exclusive Use of: Copy No.____________ (COMPANY NAME)FUND, LLC (A Delaware Limited Liability Company) CONFIDENTIAL PRIVATE PLACEMENT MEMORANDU...

  • Page 3

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. i GENERAL INFORMATION THE LIMITED LIABILITY COMPANY INTERESTS (COLLECTIVELY, THE “INTERESTS”) OF (COMPANY NAME)FUND, LLC (THE “FUND”) OFFERED HEREBY ARE...

  • Page 4

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. iiTHIS MEMORANDUM DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY STATE OR OTHER JURISDICTION IN WHICH AN OFFER OR SOLICITATION IS NOT LAWFUL OR AUTHORIZED O...

  • Page 5

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. iiiTABLE OF CONTENTS Page GENERAL INFORMATION .......................................................................................................... i SUMMA...

  • Page 6

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. iv SUMMARY The following is a summary of this Memorandum. This Memorandum contains more detailed information under the captions referred to below, and this sum...

  • Page 7

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. v (publicly-traded and privately offered, listed and unlisted), including, but not limited to, convertible debt securities, preferred stocks and their related co...

  • Page 8

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. vi investment accounts under their management; however, neither the Managing Member, the Investment Manager nor their affiliates will receive any “soft dollar...

  • Page 9

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. vii Eligible Investors This offering is designed for sophisticated investors that satisfy the requirements of Regulation D promulgated under the Securities Act o...

  • Page 10

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. viii Fund as soon as practicable thereafter. For purposes of calculating the Management Fee, Net Asset Value includes (i) the accrued Performance Allocation (as...

  • Page 11

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. ix than requiring the initial investors in the Fund to bear the initial costs of the Fund. Operating Expenses The Fund pays all of its ordinary and extraordina...

  • Page 12

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. x such term is defined in the Subscription Documents) or has otherwise breached its representations and warranties, the Fund may be obligated to freeze its inves...

  • Page 13

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. xi Manager. Income Tax Considerations A prospective investor is responsible for, and should consider carefully, all of the potential tax consequences of an inves...

  • Page 14

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 1 THE MANAGING MEMBER AND THE INVESTMENT MANAGER ( COMPANY NAME), LLC, a Delaware limited liability company organized on (DATE) (the “Managing Member”),...

  • Page 15

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 2 The Fund’s investment objective is to achieve superior capital appreciation by investing its assets with investment managers (“Managers”) of registered ...

  • Page 16

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 3 outlook for the strategy; c) performance; d) change in leverage; e) change in personnel; or f) inadequate disclosure. The Fund may maintain assets in cash, s...

  • Page 17

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 4 Prospective investors must not consider the present or proposed allocation of the Fund’s assets among the Managers to have been, or expect future allocation...

  • Page 18

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 5 doing so. The Administration Agreement may be terminated by the Administrator or by the Fund upon at least 60 days’ prior written notice. The Administrato...

  • Page 19

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 6 databases; newswire and data processing equipment, quotation equipment, accounting, auditing and legal services, and, to the extent related in any way to any ...

  • Page 20

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 7 Dependence on the Investment Manager. Although the Investment Manager may make direct investments, by primarily investing in Investment Vehicles the Investm...

  • Page 21

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 8 Liquidity — Derivative instruments, especially when traded in large amounts, may not be liquid in all circumstances, so that in volatile markets the Investm...

  • Page 22

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 9 does not necessarily have a policy limiting the amount of the capital it may deposit to collateralize its obligations to replace borrowed Financial Instrument...

  • Page 23

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 10 total return and/or to manage the Investment Vehicles’ exposure to market fluctuation instead of, or in addition to, buying and selling stock. ETF securit...

  • Page 24

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 11 Options Trading. An option on a Financial Instrument is a right, purchased for a certain price, to either buy or sell the underlying Financial Instrument du...

  • Page 25

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 12 Therefore, the Fund or an Investment Vehicle’s investments in illiquid Financial Instruments may reduce the returns of an Investment Vehicle because it may...

  • Page 26

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 13 Interests are Illiquid. Because of the limitations on transfers and redemptions and the fact that Interests are not tradable, an investment in the Fund is r...

  • Page 27

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 14 payable regardless of whether any profits are realized by the Fund. A Performance Allocation may be made to the capital account of the Managing Member at th...

  • Page 28

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 15 the potential for earning a profit (or incurring a loss). There is also the possibility that different Managers may from time to time enter identical orders...

  • Page 29

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 16 Size of Managers’ Accounts may make Executions Difficult. It may be difficult or impossible for a Manager to take or liquidate a position in a particular ...

  • Page 30

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 17 exceed any distributions received from the Fund. Also, the Fund could sustain losses at the beginning of a year which offset profits recognized at the end o...

  • Page 31

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 18 provisions of the 1940 Act which, among other things, require that a fund’s board of directors, including a majority of disinterested directors, approve ce...

  • Page 32

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 19 which includes for purposes of the Plan Asset Regulation a "venture capital operating company", or that equity participation in the entity by "...

  • Page 33

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 20 The sale of any Interests to a Benefit Plan Investor is in no respect a representation by the Managing Member and the Investment Manager that such an invest...

  • Page 34

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 21 SUBJECT TO LAWS SIMILAR TO ERISA AND/OR SECTION 4975 OF THE CODE) IS STRONGLY URGED TO CONSULT ITS OWN LEGAL, TAX AND ERISA ADVISERS REGARDING THE CONSEQUENC...

  • Page 35

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 22 to the contrary, nothing in the LLC Agreement will be deemed to waive or limit any right the Fund or any Member may have under any of those laws. As a resul...

  • Page 36

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 23 Although the Managing Member, the Investment Manager, and their principals and affiliates manage investments on behalf of a number of other customer accounts...

  • Page 37

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 24 own accounts as well as for customer accounts. The records of such trading will not be available for inspection by the Fund or the Members, except to the ex...

  • Page 38

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 25 NONE OF THE MANAGING MEMBER, THE INVESTMENT MANAGER, THEIR DIRECTORS, OFFICERS OR EMPLOYEES IS OBLIGATED TO RESOLVE ANY CONFLICTS IN FAVOR OF THE FUND. FEE...

  • Page 39

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 26 the relevant period). New Net Profit will not be reduced by the Performance Allocation incurred by the Fund or distributions or redemptions paid during the ...

  • Page 40

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 27 (i) Financial Instruments listed or traded on any recognized foreign or U.S. organized securities exchange shall be valued at the closing settlement price a...

  • Page 41

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 28 Some of the Financial Instruments held directly or indirectly by the Fund are routinely traded over-the-counter with bid-ask spreads which may be significant...

  • Page 42

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 29 treated as additional income to the Fund. Redemption fees and related expenses incurred by the Fund with respect to its investments in Investment Vehicles w...

  • Page 43

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 30 Compulsory Redemptions. The Managing Member, in its sole discretion, may require any Member to redeem all or a portion of such Member’s capital account fr...

  • Page 44

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 31 persons as the Managing Member deems advisable, including the Investment Manager, and any other person or entity affiliated with the Managing Member. Intere...

  • Page 45

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 32 Distributions. Distributions, if any, are in the sole discretion of the Managing Member. Distributions, if made, may be in cash, or in assets in lieu of ca...

  • Page 46

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 33 pronouncements, and court decisions as of the date hereof. The existing law, as currently interpreted, is subject to change by either new legislation, or by...

  • Page 47

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 34 The LLC Agreement provides that a redeeming Member is allocated items of Fund capital gain (including short-term capital gain) and capital loss for federal...

  • Page 48

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 35 procedures and elections that an investment vehicle may follow, to the extent available to such investment vehicle, to obtain capital gain and loss treatment...

  • Page 49

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 36 Other elections may be available as well in accordance with applicable rules. The Managing Member may exercise its discretion in making such elections. Li...

  • Page 50

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 37 capital gains and dividends are includable in net investment income only to the extent a Member elects to compute tax on such gains and dividends at the same...

  • Page 51

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 38 as tax shelters. Among other things, the Regulations require specified disclosures by certain persons who directly or indirectly participate in a “reporta...

  • Page 52

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 39 INVESTMENT REQUIREMENTS Each prospective subscriber for Interests should consider whether the purchase of an Interest is suitable for it in light of its ind...

  • Page 53

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 40 A Member that is, or that is an affiliate of, a bank holding company, as defined in the Bank Holding Company Act of 1956, as amended, or that is a non-bank s...

  • Page 54

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 41 ADDITIONAL INFORMATION This Memorandum is intended solely to provide qualified offerees with an introduction to this offering and to the Fund and its propos...

  • Page 55

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. (FUND NAME) Exhibit A LIMITED LIABILITY COMPANY AGREEMENT

  • Page 56

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. i TABLE OF CONTENTS Page 1. General Provisions. ...........................................................................................................1 1....

  • Page 57

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. ii 5.7 Conflicts Derived by Dual Status of the Managing Member........................20 6. Rights and Obligations of Members. ...................................

  • Page 58

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. iii 14.3 Redemption of non-Permitted Interests .........................................................28 14.4 Notice of Distribution ...........................

  • Page 59

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 1 LIMITED LIABILITY COMPANY AGREEMENT OF ( NAME) FUND, LLC This Limited Liability Company Agreement dated as of [DATE], between (Company Name) LLC (the “M...

  • Page 60

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 2 of the registered office of the Fund in the State of Delaware is [ADDRESS] or such other locations as the Fund may designate from time to time. The name and...

  • Page 61

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 3 2.13 “Capital Gain” means, for each Fiscal Year of the Fund, the Fund’s taxable income and taxable gain resulting from all sales or other dispositions (...

  • Page 62

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 4 evidenced by certificates. Except as otherwise provided in this Agreement, the Managing Member may, without limitation, issue interests or classes of Interes...

  • Page 63

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 5 2.38 “Measurement Period” with respect to an Interest shall mean, in the case of the first Measurement Period, the period beginning with the date on which...

  • Page 64

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 6 to vote with respect to any amendment to this Agreement which significantly and adversely affects the rights or preferences of the interests held by the BHC M...

  • Page 65

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 7 3. Members, Capital Contributions, Additional Capital Contributions, Capital Accounts, Allocations, Redemption Rights and Distributions 3.1 Members. The name...

  • Page 66

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 8 3.13, 3.14 and 10.2 hereof, and shall be further adjusted as provided in Section 3.6 (in the case of Book Capital Accounts) and Section 3.7 (in the case of Ta...

  • Page 67

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 9 Loss and related expenses for Excluded Investments only to the Capital Accounts of Members who are permitted to invest in such Excluded Investments. Interest...

  • Page 68

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 10 (ii) Capital Gain remaining after the allocation in clause (i) above may be allocated among all Interests whose Book Capital Accounts are in excess of their ...

  • Page 69

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 11 Performance Allocation, (iii) the same restrictions, as other Members and/or (iv) such other provisions as the Managing Member may specify. Each Special Me...

  • Page 70

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 12 illiquid sum or sums which are the subject of such Hardships, in which event payment for redemptions will be made to Members as soon as practicable following...

  • Page 71

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 13 3.13.6 The Managing Member may, in its sole discretion, expressly waive or amend any of the restrictions, notice requirements, limitations, redemption fees, ...

  • Page 72

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 14 4. Fees and Expenses. 4.1 Fees and Expenses. 4.1.1 The Fund will pay all of its ordinary and extraordinary expenses including, but not limited to, legal, bo...

  • Page 73

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 15 or part of the Fund’s assets among Managers, and Investment Vehicles, each of which may be managed by a separate Manager. 5.2.2 Subject to any and all lim...

  • Page 74

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 16 laws, investor referrals; provided, however, that, notwithstanding the foregoing, in selecting Brokers, the Managing Member shall conform its conduct to any...

  • Page 75

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 17 in connection therewith, to negotiate, settle and make agreements and adjustments with respect to the Fund’s tax returns binding upon the Members; (xviii)...

  • Page 76

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 18 (iii) admit a person as a Member of the Fund, except in accordance with this Agreement. 5.3.2 The foregoing Section 5.3.1 notwithstanding, the Managing Membe...

  • Page 77

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 19 connection with the defense of any actual or threatened action or proceeding) and amounts paid in settlement of any claims suffered or sustained by any of th...

  • Page 78

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 20 5.7 Conflicts Derived by Dual Status of the Managing Member. In the event of any inconsistency or conflict between the rights and obligations of the Managin...

  • Page 79

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 21 Members shall not be void or voidable by reason of timely communication made by or on behalf of all or any of such Members in any manner other than as expres...

  • Page 80

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 22 8. Admission of New Members. The Managing Member shall have the authority (subject to the advice of its counsel) to cause the Fund to offer an unlimited nu...

  • Page 81

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 23 9.1.4 Each Member requesting a sale, transfer, pledge or assignment of its Interest(s) agrees to pay all reasonable expenses, including attorneys’ fees, in...

  • Page 82

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 24 9.3.2 Each Substituted Member, as a condition to its admission as a Member, shall execute and acknowledge such instruments, in form and substance satisfactor...

  • Page 83

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 25 10.2 Liquidation. 10.2.1 Upon dissolution of the Fund, the Managing Member, or liquidating trustee if one is appointed, shall: (i) wind up the affairs of the...

  • Page 84

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 26 10.2.3 When the Managing Member or liquidating trustee has complied with the foregoing, the Members shall execute, acknowledge and cause to be filed an instr...

  • Page 85

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 27 12.1.2 Each Member by its respective execution hereof, hereby authorizes and appoints the Managing Member as its true and lawful agent and attorney-in-fact, ...

  • Page 86

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 28 the admission of any Members to, or any redemption of a Member from, the Fund, a recalculation of the Interests in the Fund held by all BHC Members shall be ...

  • Page 87

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 29 the Fund shall immediately notify each BHC Member upon becoming aware of any anticipated event (including, without limitation, proposed redemptions by, or di...

  • Page 88

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 30 Acceptance Date, shall constitute the entire agreement among the Members with respect to the subject matter hereof, and shall supersede any prior agreement o...

  • Page 89

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 31 Investment Manager, or any Member) may disclose to any and all persons, without limitation of any kind, the U.S. federal income tax treatment and tax structu...

  • Page 90

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 32 Attachment 1 CERTIFICATE OF FORMATION OF ( FUND NAME) FUND, LLC _____________________

  • Page 91

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 33 Attachment 2 ADDITIONAL MEMBERS

  • Page 92

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved.

  • Page 93

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 2

  • Page 94

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. (COMPANY NAME) Exhibit B Subscription Documents CONTENTS PAGE Instructions ........................................................... B-1 Subscription A...

  • Page 95

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-1 SUBSCRIPTION INSTRUCTIONS A. Completion of Subscription Documents. Subscription Agreement. Review carefully pages B-2 to B-9. Accredited Investor Cert...

  • Page 96

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-2 SUBSCRIPTION AGREEMENT Recognizing that (Company Name) (the “Fund”) and (Company Name), LLC (the “Managing Member”) will rely on the information ...

  • Page 97

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-3 Interest thereby redeemed, and Subscriber releases the Fund from any further obligation with respect thereto. Subscriber understands that the Fund may im...

  • Page 98

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-4 venture having the risks and objectives of the Interests and can sustain a loss of its entire investment, (iv) Subscriber is not precluded by law, contrac...

  • Page 99

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-5 17. Acceptance of Limited Liability Company Agreement. Subscriber agrees that Subscriber shall become a Member as of the date of entry of Subscriber’s ...

  • Page 100

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-6 Subscriber represents and warrants that acceptance by the Fund of this Subscription Agreement, together with acceptance of the appropriate remittance, wil...

  • Page 101

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-7 Investor or has otherwise breached its representations and warranties herein, the Managing Member or the Administrator may be obligated to freeze its inve...

  • Page 102

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-8 weapons of mass destruction, and international narcotics traffickers in respect of which OFAC administers and enforces economic and trade sanctions based ...

  • Page 103

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-9 Interests. If at any time any event shall occur which could make any of the foregoing incomplete or inaccurate, Subscriber shall immediately notify the F...

  • Page 104

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-10 ACCREDITED INVESTOR CERTIFICATION Subscriber hereby represents and warrants that Subscriber is an Accredited Investor as defined under Regulation D (“R...

  • Page 105

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-11 QUALIFIED CLIENT CERTIFICATION 1. Subscriber hereby represents and warrants that the Subscriber is a Qualified Client as defined under Rule 205-3 adopted...

  • Page 106

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-12 NEW ISSUES QUESTIONNAIRE Instructions Your responses to this Questionnaire will be used by the Managing Member to determine whether you will participate ...

  • Page 107

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-13 Part I. Preliminary Questions NOT SURE YES NO 1. Is Subscriber legally prohibited from participating in New Issues by virtue of the New Issue Rule? IF ...

  • Page 108

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-14 Part IV. Finders, Attorneys and Accountants YES NO Is Subscriber either: 1. a finder in respect of public offerings of securities or a person acting in a...

  • Page 109

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-15 Part VII. Answer this Part only if you answered “YES” to (A) Part II, Question 3, (B) Part III, Questions 1 or 2, or (C) Part VI Questions 1 or 4. YE...

  • Page 110

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-16 ERISA QUESTIONNAIRE YES NO 1. Is the Subscriber, or is the Subscriber acting on behalf of, an employee benefit plan within the meaning of Section 3(3) o...

  • Page 111

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-17 indirectly, through one or more intermediaries, controlling, controlled by, or under common control with the person. “Control”, with respect to a pe...

  • Page 112

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-18 Employee Benefit Plans, IRAs of all types, Keogh Plans and ERISA Covered Plans and Entities whose underlying assets are Plan Assets (collectively, “Emp...

  • Page 113

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-19 QUESTIONNAIRE FOR INDIVIDUAL SUBSCRIBERS 1. Name of Subscriber: 2. Date of Birth: 3. Social Security Number:____________________________ 4. ...

  • Page 114

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-20

  • Page 115

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-21 10. Do you and each other joint Subscriber (if any) make your own investment decisions? YES NO If “No,” who does? 11. Do you and eac...

  • Page 116

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-22 PLEASE TURN TO PAGE B-25

  • Page 117

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-23 QUESTIONNAIRE FOR ENTITY SUBSCRIBERS (OTHER THAN RETIREMENT PLANS) 1. Name of Subscriber: 2. Taxpayer EIN Number: 3. Typ...

  • Page 118

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-24 YES NO 14. Is Subscriber a bank holding company, as defined in the Bank Holding Company Act of 1956, as amended (“BHC Act”), or an affiliate t...

  • Page 119

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-25 QUESTIONNAIRE FOR EMPLOYEE BENEFIT PLANS, IRAs OF ALL TYPES, KEOGH PLANS AND ERISA COVERED PLANS AND ENTITIES WHOSE UNDERLYING ASSETS ARE PLAN ASSETS (...

  • Page 120

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-26 (e) Is the Subscriber the general account of an insurance company the assets of which constitute plan assets pursuant to the decision in John Hancock Mu...

  • Page 121

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-27 7. Does Subscriber, or the individual participant of a self-directed IRA or other one member plan, have prior experience in investing in private placeme...

  • Page 122

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-28 10. The Investment Director of Subscriber hereby represents and warrants the following on behalf of Subscriber: (a) Though a representative of the Fund ...

  • Page 123

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-29 REGISTRATION INFORMATION SUBSCRIBER DETAILS (Subscriber Name(s)) (Copy Number of Memorandum) (Street Address) (City) (State/Zip Code/Countr...

  • Page 124

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-30 Wire Instructions Wire To: ABA Number: Credit Account Name: (FUND NAME)LLC Account Number: Swift Number:

  • Page 125

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-31 INFORMATION ON REMITTING FINANCIAL INSTITUTION If payment is by wire transfer, please identify the bank or other financial institution from which the ...

  • Page 126

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-32 (Financial Institution Telephone and Facsimile Numbers) (e-mail – Optional) (Specify Reason(s) For Use of This Account)

  • Page 127

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-33 SIGNATURE PAGE INDIVIDUAL(S): (Print Name of Subscriber) Dated: (Signature of Subscriber) (Print Name of Co-Subscriber) Dated: (S...

  • Page 128

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-34 Subscription Amount: $___________________________ Dated: ________________________ New Issues: Restricted Person Non-Restricted Receipt Sent:...

  • Page 129

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-35 (COMPANY NAME) ADDITIONAL SUBSCRIPTION REQUEST (TO BE COMPLETED BY EXISTING INVESTORS INSTEAD OF SUBSCRIPTION AGREEMENT AND ITS ACCOMPANYING DOCUMENTS)...

  • Page 130

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. B-36 Receipt Sent: YES NO Dated:

  • Page 131

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. COPYRIGHT DASP AppI-1 Appendix I (Company Name) Asset Holdings, LLC and (Company Name) Asset Management, LLC PRIVACY POLICY (Company Name) and (Company Name) (together, “The Firms”) are committ...

  • Page 132

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. COPYRIGHT DASP AppI-2 6. To process or complete transactions requested by an Investor. FORMER CUSTOMERS AND INVESTORS The same Privacy Policy applies to former Investors. PROTECTION OF INVESTOR I...

  • Page 133

    HedgeAnswers 141 South Ave., Suite 8, Fanwood, NJ 07023 T: (908) 680-0010 W: www.hedgeanswers.com DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. OFFSHORE OPERATING DOCUMENTS

  • Page 134

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. CONFIDENTIAL No. __________ (FUND NAME), LTD. A Cayman Islands Exempted Company Private Offering of Class A and Class B Shares CONFIDENTIAL ...

  • Page 135

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. i NOTICES NEITHER (FUND NAME), LTD. (THE “FUND”) NOR THE CLASS A AND CLASS B SHARES OF THE FUND (THE “CLASS A SHARES” AND THE “CLASS B SHARES” RESP...

  • Page 136

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. ii TO THE EXTENT THAT THESE MATERIALS CONTAIN STATEMENTS ABOUT THE FUTURE, SUCH STATEMENTS ARE FORWARD LOOKING AND SUBJECT TO A NUMBER OF RISKS AND UNCERTAINTIES...

  • Page 137

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. iii (FUND NAME), LTD. SUMMARY The information set out below is a summary of certain important terms and should be read in conjunction with, and is qualified ...

  • Page 138

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. iv having an aggregate Net Asset Value equal to the Net Asset Value of such Class A Shares. A similar conversion may occur if a holder of Class B Shares becomes...

  • Page 139

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. v limitation, options, warrants and forward contracts, and (iv) such other instruments, rights, and interests as determined by the Investment Manager or the Mana...

  • Page 140

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. vi Administrator The Fund has entered into an agreement (the “Administration Agreement”) with [•] (the “Administrator”) to provide administration serv...

  • Page 141

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. vii Upon subscription, investors will receive the Series being offered on that Subscription Date with respect to the particular Class (and Series) being subsc...

  • Page 142

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. viii (the “Management Fee”). The Management Fee will be calculated and paid monthly, in arrears, in an amount equal to approximately 0.0833% of the Net Asse...

  • Page 143

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. ix losses with respect to such Series (excluding the Performance Fee from the calculation of net losses) are recouped. Appropriate adjustments may be made to ac...

  • Page 144

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. x subscription amount. The Fund will not receive any portion of the selling agents’ fees. Redemptions of Shares Subject to certain restrictions, a Shareholde...

  • Page 145

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. xi degree of risk. There is no assurance that the Fund will be profitable or that an investor will not lose some or all of its investment in the Fund. Past res...

  • Page 146

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. xii Certain U.S. Regulatory Matters The Fund is not registered as an investment company and, therefore, is not required to adhere to certain investment policies...

  • Page 147

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. xiii DIRECTORY Fund’s Registered Office c/o [•] Investment Manager (COMPANY NAME) (ADDRESS) (Telephone) (Facsimile) Administrator [•] Telephone: Fac...

  • Page 148

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. xiv Table of Contents Page SUMMARY ................................................................................................................................

  • Page 149

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. xv CAYMAN ISLANDS ANTI MONEY LAUNDERING REGULATIONS ..................................................................39 OTHER JURISDICTIONS........................

  • Page 150

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 1 ( FUND NAME), LTD. THE FUND Generally. ( Fund NAME), Ltd. (the “Fund”) was incorporated as an exempted company under the laws of the Cayman Islands o...

  • Page 151

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 2 Fund’s assets in Investment Vehicles, although the Fund is also permitted to make direct investments in Financial Instruments as previously defined. The Fun...

  • Page 152

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 3 • Investment Diversification. An investor who is not prepared to spend substantial time investing in and trading various Financial Instruments nevertheless m...

  • Page 153

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 4 brokers will be used to secure such loans. Loans of cash or securities may also be made from or to other investment companies on such terms as are commercially...

  • Page 154

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 5 ADMINISTRATOR [•] (the “Administrator”) has been retained by the Fund to assist with the Fund’s administrative matters pursuant to an agreement (the ...

  • Page 155

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 6 deemed to be paying for other products and services provided by the Broker which are included in the commission rate. Brokers will be selected generally on the...

  • Page 156

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 7 will be benefited by relatively better purchase or sale prices, lower commission expenses or beneficial timing of transactions, or a combination of these and ot...

  • Page 157

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 8 Payment of the Performance Fee. The Performance Fee is payable by the Fund to the Investment Manager within ten (10) days after it becomes due. Payment of th...

  • Page 158

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 9 The Fund may also be subject to a performance fee or allocation in certain circumstances. Generally, management fees, if applicable, range from 1% to 2% (annual...

  • Page 159

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 10 Conversion of Series. The Classes are issued in various Series to reflect equitably the differing Performance Fees attributable to each Series. Upon subscrip...

  • Page 160

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 11 SUBSCRIPTIONS Shares may be purchased on a monthly basis, at the end of each month effective for investment on the first Business Day of the next succeedi...

  • Page 161

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 12 REDEMPTIONS Voluntary Redemptions Subject to certain restrictions, a Shareholder may upon at least 45 days’ prior written notice to the Administrator re...

  • Page 162

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 13 remaining Shareholders would be unfairly and materially disadvantaged. The Board’s good faith determinations pursuant to the preceding sentences shall be fi...

  • Page 163

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 14 at the bank from which the subscription price was paid or by check posted at the Shareholder’s risk (as specified by the Shareholder in its written redemptio...

  • Page 164

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 15 Estimated Investment Vehicle NAV and the Investment Vehicle NAV that results in an adjustment of the Fund’s Net Asset Value after the Redemption Date, the Fu...

  • Page 165

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 16 Prospective subscribers should understand that these and other special situations involving uncertainties as to the valuation of portfolio positions by the Fu...

  • Page 166

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 17 Instruments, including market volatility. Prospective subscribers should consider the following risks before subscribing for Shares. Business and Trading Ri...

  • Page 167

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 18 volatile and speculative. Certain positions may be subject to wide and sudden fluctuations in market value, with a resulting fluctuation in the amount of prof...

  • Page 168

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 19 Short Sales A short sale involves the sale of a Financial Instrument that an Investment Vehicle or the Fund does not own in the expectation of purchasing the ...

  • Page 169

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 20 the prospect of sustained price moves in the future may reduce the likelihood that a Manager’s technical systems will be profitable. Investments in Register...

  • Page 170

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 21 Investment Vehicle takes long positions in stocks that decline and short positions in stocks that increase in value, then the losses may exceed those of other ...

  • Page 171

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 22 (less any premium received). The ability to trade in or exercise options may be restricted in the event that trading in the underlying Financial Instrument be...

  • Page 172

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 23 Effectiveness of Risk Reduction Techniques The Investment Manager and the Managers may employ various risk reduction strategies designed to minimize the risk ...

  • Page 173

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 24 Fund Risks THE FUND AND THE BOARD ARE NEWLY FORMED AND HAVE NO OPERATING HISTORY. Shares are Illiquid Because of the limitations on transfers and redemptions...

  • Page 174

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 25 Compulsory Redemption The Fund may cause a Shareholder to redeem some or all of its Shares upon at least 48 hours’ prior written notice. Under such circums...

  • Page 175

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 26 in non-exempt prohibited transactions and may have to be rescinded (see "Certain ERISA Considerations"). If at any time the Investment Manager deter...

  • Page 176

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 27 Use of Managed Accounts The Investment Manager may place assets with a Manager by opening a discretionary managed account rather than investing in Investment V...

  • Page 177

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 28 relationship to those a Manager can reasonably expect to achieve trading larger amounts of funds. A Manager may not have agreed to limit the amount of additio...

  • Page 178

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 29 CONFLICTS OF INTEREST Management Fee to the Investment Manager There is a potential conflict of interest between the responsibility of the Investment Mana...

  • Page 179

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 30 Other Activities of the Board and Investment Manager/Proprietary Trading The Investment Manager and its principals and affiliates will devote only so much tim...

  • Page 180

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 31 The Investment Vehicle’s trading will not be subject to review or oversight by an independent general partner/managing member. As a result of this affiliati...

  • Page 181

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 32 ELIGIBLE INVESTORS Shares of the Fund are being offered to eligible investors only. Accordingly, each prospective investor is required to certify that th...

  • Page 182

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 33 The Fund reserves the right to offer Shares to Restricted Persons, who will need to qualify for other eligibility standards. In this regard, a limited number ...

  • Page 183

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 34 United States Federal Income Taxation. The Fund has been advised that it should not be subject to U.S. federal income taxes on any U.S. source income or gains...

  • Page 184

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 35 Dividend and redemption payments made by the Fund to Shareholders who are not U.S. Persons should not be subject to U.S. Federal income tax, provided that Shar...

  • Page 185

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 36 ERISA CONSIDERATIONS The United States Employee Retirement Income Security Act of 1974, as amended ("ERISA"). imposes certain requirements on &q...

  • Page 186

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 37 assets of the entity or that provides investment advice for a fee (direct or indirect) with respect to such assets (or any affiliate of any such person) is dis...

  • Page 187

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 38 respect to the Plan. However, such a prohibited transaction may be treated as exempt under ERISA and the Code if the Shares were acquired pursuant to and in a...

  • Page 188

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 39 ADDITIONAL AND GENERAL INFORMATION Cayman Islands Mutual Funds Law The Fund falls within the definition of a "Mutual Fund" in terms of the Mutu...

  • Page 189

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 40 Cayman Islands Anti Money Laundering Regulations As part of the Fund's responsibility for the prevention of money laundering, the Fund and the Administrator ...

  • Page 190

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 41 Requirements, related legal process or appropriate requests (whether formal or informal) or otherwise. Each subscriber by executing the Subscription Agreement...

  • Page 191

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 42 Variation of Class Rights The rights that attach to any Class issued, or to be issued, by the Fund (unless otherwise provided by the terms of issue of the sh...

  • Page 192

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 43 Directors’ Powers Save as provided in the Companies Law, as specifically set out in the Articles of Association or as may be determined by the Shareholders ...

  • Page 193

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 44 Inquiries Inquiries concerning the Fund and the Shares, including information concerning subscription and redemption procedures and current Net Asset Value, s...

  • Page 194

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 45 EXHIBIT I PRIVACY POLICY (Company NAME), LLC (“The Firm”) is committed to protecting your privacy and maintaining the security of your personal informati...

  • Page 195

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 46 5. To assist The Firm in offering Firm-affiliated products and services to its Investors; and 6. To process or complete transactions requested by an Investor...

  • Page 196

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. (FUND NAME), LTD. PRIVATE OFFERING OF CLASS A AND CLASS B SHARES SUPPLEMENTAL DISCLOSURE STATEMENT TO THE CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM ...

  • Page 197

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. (i) NOTICE THE CLASS A AND CLASS B SHARES (THE "SHARES") OF (FUND NAME), LTD. (THE "FUND") WHICH ARE DESCRIBED IN THE CONFIDENTIAL PRIVATE ...

  • Page 198

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. (ii) FOR INVESTORS IN ALL UNITED STATES THE SHARES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PE...

  • Page 199

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 1 (FUND NAME), LTD. CLASS A AND CLASS B SHARES SUPPLEMENTAL DISCLOSURE STATEMENT FOR U.S. INVESTORS [DATE] This Supplemental Disclosure Statement (the &...

  • Page 200

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 2 investor" within the meaning of Regulation D under the Securities Act, and “qualified clients” within the meaning of the Investment Advisers Act of 1...

  • Page 201

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 3 investment activities of the Investment Manager, provided that such employee has been performing such functions and duties for or on behalf of the Investment ...

  • Page 202

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 4 Tax Risks - For information relating to tax risks associated with the offering, see "TAXATION." PROSPECTIVE INVESTORS SHOULD READ THE ENTIRE CONFI...

  • Page 203

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 5 Significantly, under Treasury Department regulations, a tax-exempt entity would not be considered to be a shareholder in a PFIC, and thus would not be subject...

  • Page 204

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 6 ERISA does not define the term "plan assets." However, regulations under ERISA generally treat the assets of certain pooled investment vehicles suc...

  • Page 205

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 7 Under attribution rules, Shares owned, directly or indirectly, by or for a corporation, partnership, estate or trust may be treated as actually being owned ...

  • Page 206

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 8 corporate taxpayer will be allowed to offset capital gain and up to $3,000 of ordinary income, while loss realized by a corporate taxpayer will be allowable a...

  • Page 207

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 9 Mark-to-Market PFIC Election Under the Taxpayer Relief Act of 1997, a U.S. shareholder of a PFIC may make a mark-to-market election with respect to the sto...

  • Page 208

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. 10 Shares, and will not constitute a controlled foreign corporation if Shares are widely held so that U.S. persons owning (directly, indirectly, or constructive...

  • Page 209

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-1 (FUND NAME), LTD. SUBSCRIPTION INSTRUCTIONS FOR U.S. INVESTORS ONLY Subscription Applications Applications to subscribe for Class A and Clas...

  • Page 210

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-2 Payment Procedures For All Subscriptions—Wire all monies to: [•] With a copy of instructions (including value date, the address of the investor’s...

  • Page 211

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-3 (FUND NAME), LTD. SUBSCRIPTION AGREEMENT FOR U.S. INVESTORS ONLY (FUND NAME), Ltd. c/o [Administrator] [Address] Telephone: [•] Facsimile: [•] Dea...

  • Page 212

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-4 Subscription Information Type of Subscriber - Please check one: Trust Foundation Endowment Employee Benefit Plan (Please ...

  • Page 213

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-5 Name, Address and Account ____________________________ Number of Financial Institution ____________________________ Remitting Payment for _______________...

  • Page 214

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-6 Authorized Signatories: Set forth below are the names of persons authorized by the Subscriber to give and receive instructions between the Fund (or its A...

  • Page 215

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-7 ELIGIBILITY REPRESENTATIONS OF THE SUBSCRIBER (A) General: (Initial one and complete blanks) The Subscriber hereby warrants and represents that: _____...

  • Page 216

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-8 ________ (Initial) (4) The Subscriber hereby certifies that it is an accredited investor because it is an employee benefit plan within the meaning of ERIS...

  • Page 217

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-9 For Individual Investors Only ________ (Initial) (10) The Subscriber hereby certifies that he/she is an accredited investor because he/she has an individu...

  • Page 218

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-10 (Initial) similar capacity, of the Investment Manager or (ii) an employee of the investment adviser (other than an employee performing solely clerical, sec...

  • Page 219

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-11 natural persons who are related as siblings or spouse (including former spouses), or direct lineal descendants by birth or adoption, spouses or such person...

  • Page 220

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-12 For Knowledgeable Employees ________ (Initial) (vii) The Subscriber hereby certifies that he/she is a qualified purchaser because he/she is an individu...

  • Page 221

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-13 required to obtain consent from the security holders of such owners Note: In determining whether the $5 million or $25 million thresholds are met, investm...

  • Page 222

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-14 ________ (Initial) _______ (Initial) (2) The Subscriber, an affiliate of the Subscriber, or the person or entity for which the Subscr...

  • Page 223

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-15 Class A Shares. (2) If the Subscriber is an individual (or individuals), he/she/they must respond to both items (a) and (b) below. If the Subscriber is a...

  • Page 224

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-16 (c) If the Subscriber is an entity, provide a list of all persons with a beneficial interest in the Subscriber, including for each person listed the inform...

  • Page 225

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-17 (7) Neither the Subscriber nor any Owner has authority to buy or sell securities for a bank, savings and loan institution, insurance company, investment co...

  • Page 226

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-18 (12) Neither the Subscriber nor any Owner is an immediate family member (including parents, mother-in-law, father-in-law, spouse, brother or sister, brothe...

  • Page 227

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-19 SUBSCRIBER REPRESENTATIONS AND WARRANTIES (a) New Issue Restricted Person Questionnaire. The Subscriber understands and agrees that the Fund will be r...

  • Page 228

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-20 (g) Subscriber Knowledge. The Subscriber possesses requisite knowledge and experience in financial matters such that it is capable of evaluating the merit...

  • Page 229

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-21 (q) Change in Information. The Subscriber agrees to notify the Board of Directors immediately if any of the information provided herein by the Subscriber ...

  • Page 230

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-22 (z) Investment Company Status. The Subscriber understands that the Fund will not register as an investment company under the Company Act and that, for pur...

  • Page 231

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-23 (f) an investment in the Fund is permissible under the documents governing the Plan and the Fiduciary; and (g) the risks associated with an investment in ...

  • Page 232

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-24 The Subscriber also agrees to indemnify the Fund, the Investment Manager, the Administrator and their officers and agents for any and all costs, fees and e...

  • Page 233

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-25 not investing and will not invest in the Fund on behalf of or for the benefit of any individual, organization, or entity listed on the OFAC Control List. ...

  • Page 234

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-26 (ii) it is not a former Senior Foreign Political Figure residing in a non-cooperative country or territory or a jurisdiction that has been designated by th...

  • Page 235

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-27 SET 1 OF 2 IN WITNESS WHEREOF, the Subscriber has executed this Subscription Agreement as of the date set forth below under penalties of perjury. Date...

  • Page 236

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-28 The foregoing Subscription Agreement is hereby accepted by the undersigned as of the date set forth below: (FUND NAME), LTD. By: ______________________...

  • Page 237

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-29 SET 2 OF 2 IN WITNESS WHEREOF, the Subscriber has executed this Subscription Agreement as of the date set forth below under penalties of perjury. Date...

  • Page 238

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-30 The foregoing Subscription Agreement is hereby accepted by the undersigned as of the date set forth below: (FUND NAME), LTD. By: _______________________...

  • Page 239

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-31 EXHIBIT A TO BE COMPLETED BY EMPLOYEE BENEFIT PLANS To: ( COMPANY NAME) , LLC (the "Investment Manager") Re: Letter of Independent Investmen...

  • Page 240

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-32 EXHIBIT B TO BE COMPLETED BY IRA BENEFICIARY To: ( COMPANY NAME) , LLC (the “Investment Manager”) Re: Letter of Independent Investment Powers (FU...

  • Page 241

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-33 EXHIBIT C NASD NEW ISSUE REPRESENTATION AND WARRANTY TO BE COMPLETED BY ALL ENTITY SUBSCRIBERS SUBSCRIBING FOR CLASS A SHARES The Subscriber represents an...

  • Page 242

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-34 EXHIBIT D FORM OF INCUMBENCY CERTIFICATE TO BE COMPLETED BY ALL ENTITY SUBSCRIBERS The undersigned, being the ___________________ of ___________________...

  • Page 243

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-35 EXHIBIT E AML CERTIFICATION FORM TO BE COMPLETED BY FUND OF FUNDS OR ENTITIES THAT SUBSCRIBE ON BEHALF OF THIRD PARTIES By Using this Form, the Undersi...

  • Page 244

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-36 (FUND NAME), LTD. REDEMPTION REQUEST (FUND NAME), Ltd. c/o [Administrator] [Address] Telephone: [•] Facsimile: [•] Dear Sirs: The undersigned...

  • Page 245

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-37 Redemption Information Number, Class and Series of Shares Being Redeemed∗: Desired Date of Redemption _______________________________...

  • Page 246

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. (FUND NAME), LTD. SUBSCRIPTION DOCUMENTS (FOR NON-U.S. INVESTORS ONLY)

  • Page 247

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-2 (FUND NAME), LTD. SUBSCRIPTION INSTRUCTIONS FOR NON-U.S. INVESTORS ONLY U.S. Investors are directed to the Subscription Documents appended to the Supplem...

  • Page 248

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-3 Payment Procedures For All Subscriptions—Wire all subscription monies to: By wire transfer in U.S. dollars to: [WIRE INSTRUCTIONS] With a copy of ins...

  • Page 249

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-4 (FUND NAME), LTD. SUBSCRIPTION AGREEMENT FOR NON-U.S. INVESTORS ONLY (FUND NAME), Ltd. c/o [Administrator] [Address] Telephone: [•] Facsimile: [•] ...

  • Page 250

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-5 Class A Shares Amount of Subscription: U.S.$ _______________________ (For Subscribers Who Are Not New Issue Restricted Persons or Who Do Not Designate a ...

  • Page 251

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-6 Standing Wire Instructions: Until further written notice to the Administrator signed by one or more of the persons listed above, funds may be wire...

  • Page 252

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-7 SUBSCRIBER REPRESENTATIONS AND WARRANTIES The Subscriber represents and agrees that none of the Shares (nor any interest therein) is being acquired or w...

  • Page 253

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-8 (g) Subscriber Knowledge. The Subscriber possesses requisite knowledge and experience in financial matters such that it is capable of evaluating the merits...

  • Page 254

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-9 and Articles and of Association and such Subscriber has not been formed for the specific purpose of acquiring an interest in the Fund. (r) Change in Inform...

  • Page 255

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-10 (z) General. This Agreement will be binding upon the Subscriber and the legal representatives, successors and assigns of the Subscriber, and shall, if the...

  • Page 256

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-11 “OFAC Control List”) 1 maintained by the U.S. Office of Foreign Assets Control (“OFAC”) and that it is not investing and will not invest in the Fun...

  • Page 257

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-12 designated by the U.S. Treasury as warranting special measures due to money laundering concerns; (ii) it is not a former Senior Foreign Political Figure r...

  • Page 258

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-13 NEW ISSUE RESTRICTED PERSON QUESTIONNAIRE The Fund from time to time may consider investing in new issues as discussed in the Confidential Private Placem...

  • Page 259

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-14 (b) List all businesses in which the Subscriber is an officer, director, employee and/or shareholder (not including publicly traded companies that are list...

  • Page 260

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-15 (5) Neither the Subscriber nor any Owner is an agent of an NASD member or any other broker/dealer (other than a limited business broker/dealer) that is eng...

  • Page 261

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-16 (11) Neither the Subscriber nor any Owner is an immediate family member (including parents, mother-in-law, father-in-law, spouse, brother or sister, ...

  • Page 262

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-17 (16) The Subscriber has initialed each Questions (3) through (15) above and knows of no other reason why it would be deemed a New Issue restricted person....

  • Page 263

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-18 SET 1 of 2 ________________________________ _________________________________ Name of Subscriber (Signature) ________________________________ Da...

  • Page 264

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-19 The foregoing Subscription Agreement is hereby accepted by the undersigned as of the date set forth below: (FUND NAME), LTD. By: _______________________...

  • Page 265

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-20 Set 2 of 2 ________________________________ _________________________________ Name of Subscriber (Signature) ________________________________ Da...

  • Page 266

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-21 The foregoing Subscription Agreement is hereby accepted by the undersigned as of the date set forth below: (FUND NAME), LTD. By: _______________________...

  • Page 267

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-22 EXHIBIT A FORM OF INCUMBENCY CERTIFICATE TO BE COMPLETED BY ALL ENTITY SUBSCRIBERS The undersigned, being the ___________________ of ___________________...

  • Page 268

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-23 EXHIBIT B AML CERTIFICATION FORM TO BE COMPLETED BY FUND OF FUNDS OR ENTITIES THAT SUBSCRIBE ON BEHALF OF THIRD PARTIES By Using this Form, the Undersig...

  • Page 269

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-24 EXHIBIT C FORM LETTER OF REFERENCE TO BE COMPLETED BY ALL INVESTORS FROM NON-FATF JURISDICTIONS [LETTERHEAD OF LOCAL OFFICE OF FATF MEMBER BANKING INSTIT...

  • Page 270

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-25 EXHIBIT D BENEFICIAL OWNERSHIP INFORMATION TO BE COMPLETED BY ENTITY SUBSCRIBERS THAT ARE PRIVATELY HELD ENTITIES FROM NON-FATF JURISDICTIONS Instructio...

  • Page 271

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-26 EXHIBIT E TRUST OWNERSHIP INFORMATION TO BE COMPLETED BY ENTITY SUBSCRIBERS THAT ARE TRUSTS FROM NON-FATF JURISDICTIONS Instructions: Please complete a...

  • Page 272

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-27 EXHIBIT F NASD NEW ISSUE REPRESENTATION AND WARRANTY TO BE COMPLETED BY ALL ENTITY SUBSCRIBERS SUBSCRIBING FOR CLASS A SHARES The Subscriber represents ...

  • Page 273

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-28 (FUND NAME), LTD. REDEMPTION REQUEST (FUND NAME), Ltd. c/o [Administrator] [Address] Telephone: [•] Facsimile: [•] Dear Sirs: The undersigned...

  • Page 274

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-29 Redemption Information Number, Class and Series of Shares Being Redeemed∗: Desired Date of Redemption ______________________________...

  • Page 275

    DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. S-30 PAYMENT OF REDEMPTION PROCEEDS IS SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN THE MEMORANDUM. REDEMPTION OF SHARES REQUIRES AT LEAST FORTY-FIVE (45) ...

  • Page 276

    HedgeAnswers 141 South Ave., Suite 8, Fanwood, NJ 07023 T: (908) 680-0010 W: www.hedgeanswers.com DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. MARKETING PRESENTATION CHECKLIST

  • Page 277

    HedgeAnswers 141 South Ave., Suite 8, Fanwood, NJ 07023 T: (908) 680-0010 W: www.hedgeanswers.com DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. Marketing Presentation Checklist Below is a list of the ...

  • Page 278

    HedgeAnswers 141 South Ave., Suite 8, Fanwood, NJ 07023 T: (908) 680-0010 W: www.hedgeanswers.com DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. MANAGER CHECKLIST

  • Page 279

    HedgeAnswers 141 South Ave., Suite 8, Fanwood, NJ 07023 T: (908) 680-0010 W: www.hedgeanswers.com DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. Managers Checklist Office Space Insurances Utiliti...

  • Page 280

    HedgeAnswers 141 South Ave., Suite 8, Fanwood, NJ 07023 T: (908) 680-0010 W: www.hedgeanswers.com DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. Due Diligence Questionnaire

  • Page 281

    DISCLAIMER: THIS MATERIAL IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS; NOR DOES IT ANY WAY CONSTITUTE LEGAL OR ANY OTHER FORM OF ADVICE. Copyright © DASP. All rights reserved. Page 1 of 8 Standard Due Diligence: (NAME) Fund General Information 1. Please describ...

  • Page 282

    DISCLAIMER: THIS MATERIAL IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS; NOR DOES IT ANY WAY CONSTITUTE LEGAL OR ANY OTHER FORM OF ADVICE. Copyright © DASP. All rights reserved. Page 2 of 8 ♦ Spread risk. As (NAME) Mortgage Arbitrage portfolios will be long mor...

  • Page 283

    DISCLAIMER: THIS MATERIAL IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS; NOR DOES IT ANY WAY CONSTITUTE LEGAL OR ANY OTHER FORM OF ADVICE. Copyright © DASP. All rights reserved. Page 3 of 8 (3) Control drawdowns and help preserve capital, by running and analyzing...

  • Page 284

    DISCLAIMER: THIS MATERIAL IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS; NOR DOES IT ANY WAY CONSTITUTE LEGAL OR ANY OTHER FORM OF ADVICE. Copyright © DASP. All rights reserved. Page 4 of 8 a. Ensure adherence to prescribed regulatory and investment guidelines. b...

  • Page 285

    DISCLAIMER: THIS MATERIAL IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS; NOR DOES IT ANY WAY CONSTITUTE LEGAL OR ANY OTHER FORM OF ADVICE. Copyright © DASP. All rights reserved. Page 5 of 8 The (NAME) is the proprietary system used by the (NAME) to process all tr...

  • Page 286

    DISCLAIMER: THIS MATERIAL IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS; NOR DOES IT ANY WAY CONSTITUTE LEGAL OR ANY OTHER FORM OF ADVICE. Copyright © DASP. All rights reserved. Page 6 of 8 accountability of any changes or updates made at each point: 1) Initial E...

  • Page 287

    DISCLAIMER: THIS MATERIAL IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS; NOR DOES IT ANY WAY CONSTITUTE LEGAL OR ANY OTHER FORM OF ADVICE. Copyright © DASP. All rights reserved. Page 7 of 8 The CFO works in conjunction with the Legal Department. 2. With regard t...

  • Page 288

    DISCLAIMER: THIS MATERIAL IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS; NOR DOES IT ANY WAY CONSTITUTE LEGAL OR ANY OTHER FORM OF ADVICE. Copyright © DASP. All rights reserved. Page 8 of 8 *(NAME): IMPORTANT DISCLAIMERS The information contained in these materi...

  • Page 289

    DISCLAIMER: THIS MATERIAL IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS; NOR DOES IT ANY WAY CONSTITUTE LEGAL OR ANY OTHER FORM OF ADVICE. Copyright © DASP. All rights reserved. Page 9 of 8 These Materials are being provided to you on a confidential basis. Accor...

  • Page 290

    HedgeAnswers 141 South Ave., Suite 8, Fanwood, NJ 07023 T: (908) 680-0010 W: www.hedgeanswers.com DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. Hedge Fund Budget

  • Page 291

    OnshoreOffshoreLegal Fees50,000.00$ 12,000.00$ Filing Fees1,500.00$ 2,000.00$ Accountant Review of Operating Documents5,000.00$ 5,000.00$ Operating Capital100,000.00$ 100,000.00$ Subtotal156,500.00$ 119,000....

  • Page 292

    HedgeAnswers 141 South Ave., Suite 8, Fanwood, NJ 07023 T: (908) 680-0010 W: www.hedgeanswers.com DISCLAIMER: THIS IS TO BE USED ONLY AS AN ILLUSTRATION AND NOT FOR PREPARATION OF DOCUMENTS. Copyright © DASP. All rights reserved. CONTACT INFORMATION: HedgeAnswers 141 South Ave., Suite 8...