HFND's 0.95% management fee is less than private funds, many of which carry a 2% minimum fee, with an additional 20% assessed against future Fund gains
For taxable investors, ETFs are more tax efficient than Limited Partnership funds
Limit manager concentration risk
Simplify your life and skip the paperwork and the K-1s
The Fund seeks to create an investment portfolio that has similar return characteristics as the hedge fund industry gross of fees returns. By creating an investment portfolio for the Fund with similar return characteristics as the hedge fund industry’s gross of fees returns, the Fund’s sub-adviser, Unlimited Funds, Inc. (“Unlimited” or the “Sub-Adviser”), believes that the Fund’s net of fees returns may outperform the hedge fund industry’s net of fees returns due to the relatively high fees and expenses charged by hedge funds versus the comparatively lower operating expenses of the Fund.
The Sub-Adviser obtains publicly reported returns and fee data for the hedge fund industry from various sources. The Sub-Adviser then seeks to create an investment portfolio with similar return characteristics (return, volatility, and correlation with other asset classes) as the hedge fund industry gross of fees returns primarily by investing in broad-based exchange traded funds (“Underlying ETFs”) and futures contracts.
The Fund is not a hedge fund, nor will it invest in hedge fund strategies or positions. For the avoidance of doubt: