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Please direct any questions related to these materials to Zanbato's compliance department. compliance@zanbato.com
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Zanbato Securities LLC is a U.S. registered broker-dealer and FINRA/NFA/SIPC member firm. Zanbato Securities LLC and its affiliates (collectively "Zanbato") are compensated for referring investors to alternative investment products which are managed by counterparties that Zanbato Securities represents. Alternative investment products, including but not limited to hedge funds, private equity funds, real estate, and managed futures, involve a high degree of risk, often engage in leveraging and other speculative investment practices that may increase the risk of investment loss, can be highly illiquid, are not required to provide periodic pricing or valuation information to investors, may involve complex tax structures and delays in distributing important tax information, are not subject to the same regulatory requirements as mutual funds, often charge high fees which may offset any trading profits, and in many cases the underlying investments are not transparent and are known only to the investment manager. Alternative investment performance can be volatile. An investor could lose all or a substantial amount of his or her investment. Often, alternative investment fund and account managers have total trading authority over their funds or accounts; the use of a single advisor applying generally similar trading programs could mean lack of diversification and, consequently, higher risk. There is often no secondary market for an investor's interest in alternative investments, and none is expected to develop. There may be restrictions on transferring interests in any alternative investment. Alternative investment products often execute a substantial portion of their trades on non-U.S. exchanges. Investing in foreign markets may entail risks that differ from those associated with investments in U.S. markets. Additionally, alternative investments often entail commodity trading, which involves substantial risk of loss. Performance results are generally net of applicable fees and reflect reinvestment of profits. No representation is made that any investment vehicle will or is likely to achieve its objectives or that any investor will or is likely to achieve results comparable to those shown or will make any profit at all or will be able to avoid incurring substantial losses. Past performance is no guarantee of future results.
Zanbato introduces various alternative investment products, including but not limited to hedge funds, private equity funds, real estate, futures funds and managed futures and commodities accounts, which may operate in commodities markets and foreign markets, among others, to accredited and institutional investors. Zanbato and/or its officers/ partners and/or affiliates and/or members of Singular Global may have a financial interest in such alternative investment products or individual portfolio companies. In working with clients, Zanbato acts in its capacity as an SEC and CFTC-registered Broker-Dealer. Although Zanbato may give securities-related advice that is incidental to its securities brokerage services, it is not an Investment Adviser. To the extent applicable, CTAs may also pay Zanbato a portion of the fees they receive from accounts introduced to them by Zanbato. When acting as a Broker-Dealer, Zanbato enters into selling agreements with counterparties including, but not limited to hedge fund managers, private equity fund managers, and futures fund managers that it represents (including funds sponsored by affiliates), pursuant to which Zanbato, with respect to the interests it sells, is paid, in general, a portion of the management and/or performance fees charged by the funds or their managers in respect of those interests generally ranging between 20% and 30% of the management fees and incentive allocation charged by the manager or between 50 and 300 basis points of the aggregate funds funded and introduced, contingent upon the transactional situation. These compensatory parameters do not have any effect on the net fees that the investor would be accountable for by the alternative investment product if the investor had made a direct investment in the alternative investment product without the introduction of Zanbato Securities LLC.
The information contained herein, including investment returns, valuations, fund targets and strategies, has been supplied by third party sources, including the funds and their managers or other representatives and, although believed to be reliable, this information has not been independently verified and cannot be guaranteed. Zanbato Securities LLC makes no representations or warranties as to the accuracy, timeliness or completeness of such information. Financial indicators and benchmarks are unmanaged, do not reflect any management fees, generally assume reinvestment of income, are for illustration purposes only, and have limitations when used for such purposes because they may have volatility, credit, or other material characteristics that are different from a particular investment vehicle. This material is confidential, is intended only for the person to whom it has been sent and under no circumstance may a copy be shown, copied, transmitted, or otherwise given to any person other than the intended recipient. Although Zanbato may provide summary information, Zanbato does not conduct or provide "due diligence" on an investor's behalf and is not responsible for an investor's investment decisions. All investors should consult with their professional investment counsel and tax experts to evaluate the full merits and suitability of any investment opportunity being considered.
Please direct any questions related to these materials to Zanbato's compliance department. compliance@zanbato.com
When considering alternative investments you should consider various risks including the fact that some products use leverage and other speculative investment practices that may increase the risk of investment loss, can be illiquid, are not required to provide periodic pricing or valuation information to investors, may involve complex tax structures and delays in distributing important tax information, are not subject to the same regulatory requirements as mutual funds, often charge high fees, and in many cases the underlying investments are not transparent and are known only to the investment manager.
With respect to alternative investments in general, you should be aware that:
Returns from some alternative investments can be volatile. You may lose all or portion of your investment. With respect to single manager products the manager has total trading authority. The use of a single manager could mean a lack of diversification and higher risk. Many alternative investments are subject to substantial expenses that must be offset by trading profits and other income. Trading may take place on foreign exchanges that may not offer the same regulatory protection as U.S. exchanges.
With respect to an investment in a fund, you should be aware that:
There is often a lack of transparency as to the fund's underlying investments. As to fund of funds, the fund's manager has complete discretion to invest in various sub-funds without disclosure thereof to you or to us. Because of this lack of transparency, there is no way for you to monitor the specific investments made by the fund or to know whether the sub- fund investments are consistent with the fund's historic investment philosophy or risk levels. A fund of funds invests in other funds and fees are charged at both the fund and sub-fund level. Thus, the overall fees you will pay will be higher than you would pay by investing directly in the sub-funds. In addition, each sub-fund charges an incentive fee on new profits regardless of whether the overall operations of the fund are profitable. There is no secondary market for fund interests. Transfers of interests are subject to limitations. The fund's manager may deny a request to transfer if it determines that the transfer may result in adverse legal or tax consequences for the fund.
A fund's offering materials or a manager's disclosure document describes the various risks and conflicts of interest relating to an investment and to its operations. You should read those documents carefully to determine whether an investment is suitable for you in light of, among other things, your financial situation, need for liquidity, tax situation, and other investments.
Futures: The risk of loss in investing in alternative investments trading or investing in futures and commodities can be substantial. You should, therefore, carefully consider whether such activity is suitable for you in light of your circumstances and financial resources. You should be aware of the following points:
(1) You may sustain a total loss of the funds that you deposit with the alternative fund manager to establish or maintain positions in the futures/commodity market, and you may incur losses beyond these amounts. If the market moves against the manager, you may be called upon to deposit a substantial amount of additional margin funds, on short notice, in order to maintain the positions. If the required funds are not provided within the required time, the positions may be liquidated at a loss, which may result in additional liability for deficits in the account.
(2) The funds deposited with an alternative investment manager transacting in futures/commodities are not protect by insurance in the event of the bankruptcy or insolvency of the manager, or in the event your funds are misappropriated.
(3) The funds deposited are not protected by the Securities Investor Protection Corporation even if the futures/commodity manager is registered with the Securities and Exchange Commission as a broker or dealer.
Keep in mind that the past performance of any investment is not necessarily indicative of future results. You should only commit risk capital to a fund investment. Alternative investment products, including hedge funds, are not for everyone and entail risks that are different from more traditional investments. You should obtain investment and tax advice from your advisers before deciding to invest.
Not all products and services described on this website are available in all jurisdictions, and certain investments may not be suitable for all investors. Certain investment products that are available to U.S. persons have not been registered with any federal or state regulator, and as a result are available only to certain qualified investors. Qualifications vary from product to product. You may notify Zanbato in writing, at any time, to remove your name from any of its product distribution lists. The information on this website should not be construed as investment advice. You should obtain independent investment and tax advice before deciding to invest. This information is for informational purposes only and is provided on an "as is" basis. Zanbato and its affiliates expressly disclaim all warranties of originality, merchantability, of fitness for any particular purpose. Without limiting the foregoing, in no event will Zanbato or its affiliates and employees have any liability in connection with the use by any person of the information or data presented in this correspondence or on this website.
Please direct any questions related to these materials to Zanbato's compliance department. compliance@zanbato.com