Nantucket Multi Managers, LLC Disclosure
Please note that this communication does not constitute an offer to sell, nor is it a solicitation
of an offer to purchase an interest in any fund-of-funds managed by
Nantucket Multi Managers, LLC (“Nantucket” and “Nantucket FOF,” respectively) nor any of its
underlying managers. Any such offer or solicitation can be made only by the delivery of the
current Confidential Private Placement Memorandum of the relevant Nantucket FOF which should be
read carefully, especially the “Risk Factors” section, before making a decision to invest in any
fund. An investment in any Nantucket FOF should be considered speculative and involves
substantial risk due to, among other things, the nature of the Nantucket FOF’s investment strategy
and techniques, the significant fees and costs associated with such an investment and the
illiquidity of interests. You should consider an investment in a Nantucket FOF only for an
appropriate portion of your overall portfolio. There is no assurance that a Nantucket FOF
investment will achieve its stated objectives. Investors must independently assess the suitability
of any particular investment opportunity and carry out any due diligence that they require with
respect to the strategies used or investments made by a Nantucket FOF or underlying manager; in
doing so, investors should seek advice from their own advisers.
Nothing in this communication shall be deemed to constitute tax, financial or legal advice given by
Nantucket to any party. Neither Nantucket nor any of its affiliates is undertaking to provide any
investment advice to an investor in a fiduciary capacity in connection with an investment in any
Nantucket FOF.
Each Nantucket FOF is a private unregistered investment vehicle and is, therefore, not subject to
the same regulatory/disclosure requirements as a registered investment company (e.g., a mutual
fund). Nantucket Fund, LP (the “Master Fund”) allocates substantially all of its assets to
independent portfolio managers that pursue various alternative investment strategies through many
markets including foreign markets; these portfolio managers invest in public securities and,
depending upon the manager, private securities as well. Because of the nature of a fund-of-funds
structure, an investment in a Nantucket FOF involves multiple layers of fees which can negatively
effect performance results. Investments in a Nantucket FOF or any of its underlying managers are
illiquid, are subject to significant transfer restrictions and have no secondary trading market.
Nantucket FOF performance figures are presented assuming a new issue eligible investor who invested
at inception and who was charged the highest fee structure possible in all periods. Nantucket FOF
performance figures in this correspondence are calculated by an independent administrator, are net
of management fees and (when applicable) incentive allocations, are estimated and unaudited based
on estimated and unaudited net asset valuations or net performance measurements supplied by the
relevant underlying manager or its administrator, unless otherwise stated, and are subject to final
year-end audit and adjustment. The performance of the underlying managers in a Nantucket FOF have
not been independently verified by Nantucket or our accountants. The Nantucket FOFs’ annual audits
are generally completed by June 30th of the following year which should be taken into consideration
when reviewing a Nantucket FOF’s performance (i.e., performance for the prior year is estimated
until the annual audit for that year is completed and the relevant Nantucket FOF’s books are
adjusted as necessary). Fees and performance results may vary by investor in certain of the
Nantucket FOF as a result of the size or timing of investment; each investor will receive periodic
statements from the Nantucket FOF independent administrator (which will include individualized
performance reporting). Investors in Nantucket Institutional Fund (Cayman) SPC (the offshore
feeder fund) may experience different performance than the Master Fund due to operating expenses
and withholding taxes. Investors in Nantucket Levered, LLC (the leveraged feeder fund) may
experience more volatile performance and at times possibly lower performance than the Master Fund
due to the cost and investment effects of leverage, especially in a combined high interest rate and
low return environment. The risk free rate is defined as the Citigroup 3-month Treasury Bill as
it relates to applicable performance statistics. There can be no assurance that comparable
historical investment returns can be achieved by any Nantucket FOF or underlying manager mentioned
herein, therefore, PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
The information contained in this communication may contain forward-looking statements that reflect
the current views of Nantucket and/or its principals or employees (collectively, the “Company”),
with respect to future business or performance of Nantucket, a Nantucket FOF or any of its
underlying managers. Any forward-looking statements contained in this correspondence are based
upon historical information and the current plans, estimates and expectations of the Company, are
subject to numerous assumptions and are subject to change without notice. The inclusion of
forward-looking information should not be regarded as a representation by the Company that the
future plans, estimates or expectations of Nantucket, a Nantucket FOF, or underlying manager will
be achieved. Such forward-looking statements are subject to various risks and uncertainties,
including but not limited to global and domestic market and business conditions. If one or more
risks or uncertainties materialize, or if the Company’s assumptions prove to be incorrect, actual
performance results may vary materially from those indicated in the forward-looking statement.
Any modeled, hypothetical or simulated returns are not actual results, are based on certain
assumptions and have many inherent limitations and should not be considered an indication of the
skillset of Nantucket or performance of any Nantucket FOF. There are frequently sharp differences
between hypothetical, modeled or simulated performance versus the actual record subsequently
achieved.
Nantucket (the general partner, managing member or investment manager of each Nantucket FOF, as
applicable) is registered as an investment adviser with the Securities and Exchange Commission
(“SEC”) under the Investment Adviser Act of 1940, as amended. However, Nantucket is exempt from
registration with the Commodity Futures Trading Commission (“CFTC”) as a commodity pool operator
pursuant to Rule 4.13(a)(3) and in reliance on CFTC No-Action Relief issued in 2012 and, therefore,
is not subject to the CFTC rules requiring the delivery of a disclosure document or a certified
annual report to existing or prospective investors. For additional information on Nantucket,
please refer to Nantucket’s current Form ADV, which can be accessed at
http://www.adviserinfo.sec.gov. Conflicts of interest are described in the “Risk Factor” section
of the relevant Nantucket FOF Confidential Private Placement Memorandum, as well as in Part 2A of
Nantucket’s Form ADV.
Index and manager data is obtained from private sources and public databases such as Evestment,
Hedge Fund Research, Standard & Poors, MSCI and other databases and is believed to be accurate but
is not independently verified. Certain indices referred to are used as proxies for certain market
segments only and are generally not investable. No representation is made that the Master Fund is
managed to or designed to replicate any indices or benchmarks shown, either in composition or
element of risk involved. Such comparisons are solely to illustrate the relevant Nantucket FOF
performance against the index shown. The HFRI FOF Diversified Index is an index maintained by
Hedge Fund Research, Inc. that includes funds of hedge funds that invest “in a variety of
strategies among multiple managers;” this is used by Nantucket as a peer group proxy. MSCI World
TR Net (aka MSCI World-ND or MSCI World) is the total return of the MSCI World Index, including the
reinvestment of dividends, and net of estimated international taxes for a U.S. investor; this is
used by Nantucket as a global equities proxy. The Barclays Global Aggregate Index is used by
Nantucket as a global bonds proxy. Index performance, where stated, is reported with dividends
re-invested unless otherwise noted.
Information contained in these materials is obtained from sources we deem to be reliable; however,
we do not guarantee its accuracy and is subject to change without notice.
Information in this communication is confidential and proprietary, and you may not copy, transmit
or distribute Nantucket information, or any data or other information contained therein, or
authorize such actions by others, without Nantucket’s express prior written consent, except that
you may share Nantucket information with your professional advisors. If you are a professional
financial adviser, you may share Nantucket information with those of your clients that you
reasonably determine to be eligible to invest in the relevant Nantucket FOF. Nantucket assumes no
responsibility with respect to Nantucket information shared that is presented in a format different
from this report.
Updated: 07/30/2019
Nantucket Multi Managers, LLC Disclosure
Please note that this communication does not constitute an offer to sell, nor is it a solicitation
of an offer to purchase an interest in any fund-of-funds managed by
Nantucket Multi Managers, LLC (“Nantucket” and “Nantucket FOF,” respectively) nor any of its
underlying managers. Any such offer or solicitation can be made only by the delivery of the
current Confidential Private Placement Memorandum of the relevant Nantucket FOF which should be
read carefully, especially the “Risk Factors” section, before making a decision to invest in any
fund. An investment in any Nantucket FOF should be considered speculative and involves
substantial risk due to, among other things, the nature of the Nantucket FOF’s investment strategy
and techniques, the significant fees and costs associated with such an investment and the
illiquidity of interests. You should consider an investment in a Nantucket FOF only for an
appropriate portion of your overall portfolio. There is no assurance that a Nantucket FOF
investment will achieve its stated objectives. Investors must independently assess the suitability
of any particular investment opportunity and carry out any due diligence that they require with
respect to the strategies used or investments made by a Nantucket FOF or underlying manager; in
doing so, investors should seek advice from their own advisers.
Nothing in this communication shall be deemed to constitute tax, financial or legal advice given by
Nantucket to any party. Neither Nantucket nor any of its affiliates is undertaking to provide any
investment advice to an investor in a fiduciary capacity in connection with an investment in any
Nantucket FOF.
Each Nantucket FOF is a private unregistered investment vehicle and is, therefore, not subject to
the same regulatory/disclosure requirements as a registered investment company (e.g., a mutual
fund). Nantucket Fund, LP (the “Master Fund”) allocates substantially all of its assets to
independent portfolio managers that pursue various alternative investment strategies through many
markets including foreign markets; these portfolio managers invest in public securities and,
depending upon the manager, private securities as well. Because of the nature of a fund-of-funds
structure, an investment in a Nantucket FOF involves multiple layers of fees which can negatively
effect performance results. Investments in a Nantucket FOF or any of its underlying managers are
illiquid, are subject to significant transfer restrictions and have no secondary trading market.
Nantucket FOF performance figures are presented assuming a new issue eligible investor who invested
at inception and who was charged the highest fee structure possible in all periods. Nantucket FOF
performance figures in this correspondence are calculated by an independent administrator, are net
of management fees and (when applicable) incentive allocations, are estimated and unaudited based
on estimated and unaudited net asset valuations or net performance measurements supplied by the
relevant underlying manager or its administrator, unless otherwise stated, and are subject to final
year-end audit and adjustment. The performance of the underlying managers in a Nantucket FOF have
not been independently verified by Nantucket or our accountants. The Nantucket FOFs’ annual audits
are generally completed by June 30th of the following year which should be taken into consideration
when reviewing a Nantucket FOF’s performance (i.e., performance for the prior year is estimated
until the annual audit for that year is completed and the relevant Nantucket FOF’s books are
adjusted as necessary). Fees and performance results may vary by investor in certain of the
Nantucket FOF as a result of the size or timing of investment; each investor will receive periodic
statements from the Nantucket FOF independent administrator (which will include individualized
performance reporting). Investors in Nantucket Institutional Fund (Cayman) SPC (the offshore
feeder fund) may experience different performance than the Master Fund due to operating expenses
and withholding taxes. Investors in Nantucket Levered, LLC (the leveraged feeder fund) may
experience more volatile performance and at times possibly lower performance than the Master Fund
due to the cost and investment effects of leverage, especially in a combined high interest rate and
low return environment. The risk free rate is defined as the Citigroup 3-month Treasury Bill as
it relates to applicable performance statistics. There can be no assurance that comparable
historical investment returns can be achieved by any Nantucket FOF or underlying manager mentioned
herein, therefore, PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
The information contained in this communication may contain forward-looking statements that reflect
the current views of Nantucket and/or its principals or employees (collectively, the “Company”),
with respect to future business or performance of Nantucket, a Nantucket FOF or any of its
underlying managers. Any forward-looking statements contained in this correspondence are based
upon historical information and the current plans, estimates and expectations of the Company, are
subject to numerous assumptions and are subject to change without notice. The inclusion of
forward-looking information should not be regarded as a representation by the Company that the
future plans, estimates or expectations of Nantucket, a Nantucket FOF, or underlying manager will
be achieved. Such forward-looking statements are subject to various risks and uncertainties,
including but not limited to global and domestic market and business conditions. If one or more
risks or uncertainties materialize, or if the Company’s assumptions prove to be incorrect, actual
performance results may vary materially from those indicated in the forward-looking statement.
Any modeled, hypothetical or simulated returns are not actual results, are based on certain
assumptions and have many inherent limitations and should not be considered an indication of the
skillset of Nantucket or performance of any Nantucket FOF. There are frequently sharp differences
between hypothetical, modeled or simulated performance versus the actual record subsequently
achieved.
Nantucket (the general partner, managing member or investment manager of each Nantucket FOF, as
applicable) is registered as an investment adviser with the Securities and Exchange Commission
(“SEC”) under the Investment Adviser Act of 1940, as amended. However, Nantucket is exempt from
registration with the Commodity Futures Trading Commission (“CFTC”) as a commodity pool operator
pursuant to Rule 4.13(a)(3) and in reliance on CFTC No-Action Relief issued in 2012 and, therefore,
is not subject to the CFTC rules requiring the delivery of a disclosure document or a certified
annual report to existing or prospective investors. For additional information on Nantucket,
please refer to Nantucket’s current Form ADV, which can be accessed at
http://www.adviserinfo.sec.gov. Conflicts of interest are described in the “Risk Factor” section
of the relevant Nantucket FOF Confidential Private Placement Memorandum, as well as in Part 2A of
Nantucket’s Form ADV.
Index and manager data is obtained from private sources and public databases such as Evestment,
Hedge Fund Research, Standard & Poors, MSCI and other databases and is believed to be accurate but
is not independently verified. Certain indices referred to are used as proxies for certain market
segments only and are generally not investable. No representation is made that the Master Fund is
managed to or designed to replicate any indices or benchmarks shown, either in composition or
element of risk involved. Such comparisons are solely to illustrate the relevant Nantucket FOF
performance against the index shown. The HFRI FOF Diversified Index is an index maintained by
Hedge Fund Research, Inc. that includes funds of hedge funds that invest “in a variety of
strategies among multiple managers;” this is used by Nantucket as a peer group proxy. MSCI World
TR Net (aka MSCI World-ND or MSCI World) is the total return of the MSCI World Index, including the
reinvestment of dividends, and net of estimated international taxes for a U.S. investor; this is
used by Nantucket as a global equities proxy. The Barclays Global Aggregate Index is used by
Nantucket as a global bonds proxy. Index performance, where stated, is reported with dividends
re-invested unless otherwise noted.
Information contained in these materials is obtained from sources we deem to be reliable; however,
we do not guarantee its accuracy and is subject to change without notice.
Information in this communication is confidential and proprietary, and you may not copy, transmit
or distribute Nantucket information, or any data or other information contained therein, or
authorize such actions by others, without Nantucket’s express prior written consent, except that
you may share Nantucket information with your professional advisors. If you are a professional
financial adviser, you may share Nantucket information with those of your clients that you
reasonably determine to be eligible to invest in the relevant Nantucket FOF. Nantucket assumes no
responsibility with respect to Nantucket information shared that is presented in a format different
from this report.
Updated: 07/30/2019
Nantucket Multi Managers, LLC Disclosure
Please note that this communication does not constitute an offer to sell, nor is it a solicitation of an offer to purchase an interest in any fund-of-funds managed by Nantucket Multi Managers, LLC (“Nantucket” and “Nantucket FOF,” respectively) nor any of its underlying managers. Any such offer or solicitation can be made only by the delivery of the current Confidential Private Placement Memorandum of the relevant Nantucket FOF which should be read carefully, especially the “Risk Factors” section, before making a decision to invest in any fund. An investment in any Nantucket FOF should be considered speculative and involves substantial risk due to, among other things, the nature of the Nantucket FOF’s investment strategy and techniques, the significant fees and costs associated with such an investment and the illiquidity of interests. You should consider an investment in a Nantucket FOF only for an appropriate portion of your overall portfolio. There is no assurance that a Nantucket FOF investment will achieve its stated objectives. Investors must independently assess the suitability of any particular investment opportunity and carry out any due diligence that they require with respect to the strategies used or investments made by a Nantucket FOF or underlying manager; in doing so, investors should seek advice from their own advisers.
Nothing in this communication shall be deemed to constitute tax, financial or legal advice given by Nantucket to any party. Neither Nantucket nor any of its affiliates is undertaking to provide any investment advice to an investor in a fiduciary capacity in connection with an investment in any Nantucket FOF.
Each Nantucket FOF is a private unregistered investment vehicle and is, therefore, not subject to the same regulatory/disclosure requirements as a registered investment company (e.g., a mutual fund). Nantucket Fund, LP (the “Master Fund”) allocates substantially all of its assets to independent portfolio managers that pursue various alternative investment strategies through many markets including foreign markets; these portfolio managers invest in public securities and, depending upon the manager, private securities as well. Because of the nature of a fund-of-funds structure, an investment in a Nantucket FOF involves multiple layers of fees which can negatively effect performance results. Investments in a Nantucket FOF or any of its underlying managers are illiquid, are subject to significant transfer restrictions and have no secondary trading market.
Nantucket FOF performance figures are presented assuming a new issue eligible investor who invested at inception and who was charged the highest fee structure possible in all periods. Nantucket FOF performance figures in this correspondence are calculated by an independent administrator, are net of management fees and (when applicable) incentive allocations, are estimated and unaudited based on estimated and unaudited net asset valuations or net performance measurements supplied by the relevant underlying manager or its administrator, unless otherwise stated, and are subject to final year-end audit and adjustment. The performance of the underlying managers in a Nantucket FOF have not been independently verified by Nantucket or our accountants. The Nantucket FOFs’ annual audits are generally completed by June 30th of the following year which should be taken into consideration when reviewing a Nantucket FOF’s performance (i.e., performance for the prior year is estimated until the annual audit for that year is completed and the relevant Nantucket FOF’s books are adjusted as necessary). Fees and performance results may vary by investor in certain of the Nantucket FOF as a result of the size or timing of investment; each investor will receive periodic statements from the Nantucket FOF independent administrator (which will include individualized performance reporting). Investors in Nantucket Institutional Fund (Cayman) SPC (the offshore feeder fund) may experience different performance than the Master Fund due to operating expenses and withholding taxes. Investors in Nantucket Levered, LLC (the leveraged feeder fund) may experience more volatile performance and at times possibly lower performance than the Master Fund due to the cost and investment effects of leverage, especially in a combined high interest rate and low return environment. The risk free rate is defined as the Citigroup 3-month Treasury Bill as it relates to applicable performance statistics. There can be no assurance that comparable historical investment returns can be achieved by any Nantucket FOF or underlying manager mentioned herein, therefore, PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
The information contained in this communication may contain forward-looking statements that reflect the current views of Nantucket and/or its principals or employees (collectively, the “Company”), with respect to future business or performance of Nantucket, a Nantucket FOF or any of its underlying managers. Any forward-looking statements contained in this correspondence are based upon historical information and the current plans, estimates and expectations of the Company, are subject to numerous assumptions and are subject to change without notice. The inclusion of forward-looking information should not be regarded as a representation by the Company that the future plans, estimates or expectations of Nantucket, a Nantucket FOF, or underlying manager will be achieved. Such forward-looking statements are subject to various risks and uncertainties, including but not limited to global and domestic market and business conditions. If one or more risks or uncertainties materialize, or if the Company’s assumptions prove to be incorrect, actual performance results may vary materially from those indicated in the forward-looking statement.
Any modeled, hypothetical or simulated returns are not actual results, are based on certain assumptions and have many inherent limitations and should not be considered an indication of the skillset of Nantucket or performance of any Nantucket FOF. There are frequently sharp differences between hypothetical, modeled or simulated performance versus the actual record subsequently achieved.
Nantucket (the general partner, managing member or investment manager of each Nantucket FOF, as applicable) is registered as an investment adviser with the Securities and Exchange Commission (“SEC”) under the Investment Adviser Act of 1940, as amended. However, Nantucket is exempt from registration with the Commodity Futures Trading Commission (“CFTC”) as a commodity pool operator pursuant to Rule 4.13(a)(3) and in reliance on CFTC No-Action Relief issued in 2012 and, therefore, is not subject to the CFTC rules requiring the delivery of a disclosure document or a certified annual report to existing or prospective investors. For additional information on Nantucket, please refer to Nantucket’s current Form ADV, which can be accessed at http://www.adviserinfo.sec.gov. Conflicts of interest are described in the “Risk Factor” section of the relevant Nantucket FOF Confidential Private Placement Memorandum, as well as in Part 2A of Nantucket’s Form ADV.
Index and manager data is obtained from private sources and public databases such as Evestment, Hedge Fund Research, Standard & Poors, MSCI and other databases and is believed to be accurate but is not independently verified. Certain indices referred to are used as proxies for certain market segments only and are generally not investable. No representation is made that the Master Fund is managed to or designed to replicate any indices or benchmarks shown, either in composition or element of risk involved. Such comparisons are solely to illustrate the relevant Nantucket FOF performance against the index shown. The HFRI FOF Diversified Index is an index maintained by Hedge Fund Research, Inc. that includes funds of hedge funds that invest “in a variety of strategies among multiple managers;” this is used by Nantucket as a peer group proxy. MSCI World TR Net (aka MSCI World-ND or MSCI World) is the total return of the MSCI World Index, including the reinvestment of dividends, and net of estimated international taxes for a U.S. investor; this is used by Nantucket as a global equities proxy. The Barclays Global Aggregate Index is used by Nantucket as a global bonds proxy. Index performance, where stated, is reported with dividends re-invested unless otherwise noted.
Information contained in these materials is obtained from sources we deem to be reliable; however, we do not guarantee its accuracy and is subject to change without notice.
Information in this communication is confidential and proprietary, and you may not copy, transmit or distribute Nantucket information, or any data or other information contained therein, or authorize such actions by others, without Nantucket’s express prior written consent, except that you may share Nantucket information with your professional advisors. If you are a professional financial adviser, you may share Nantucket information with those of your clients that you reasonably determine to be eligible to invest in the relevant Nantucket FOF. Nantucket assumes no responsibility with respect to Nantucket information shared that is presented in a format different from this report.
Updated: 07/30/2019
Nantucket Multi Managers, LLC Disclosure
Please note that this communication does not constitute an offer to sell, nor is it a solicitation of an offer to purchase an interest in any fund-of-funds managed by Nantucket Multi Managers, LLC (“Nantucket” and “Nantucket FOF,” respectively) nor any of its underlying managers. Any such offer or solicitation can be made only by the delivery of the current Confidential Private Placement Memorandum of the relevant Nantucket FOF which should be read carefully, especially the “Risk Factors” section, before making a decision to invest in any fund. An investment in any Nantucket FOF should be considered speculative and involves substantial risk due to, among other things, the nature of the Nantucket FOF’s investment strategy and techniques, the significant fees and costs associated with such an investment and the illiquidity of interests. You should consider an investment in a Nantucket FOF only for an appropriate portion of your overall portfolio. There is no assurance that a Nantucket FOF investment will achieve its stated objectives. Investors must independently assess the suitability of any particular investment opportunity and carry out any due diligence that they require with respect to the strategies used or investments made by a Nantucket FOF or underlying manager; in doing so, investors should seek advice from their own advisers.
Nothing in this communication shall be deemed to constitute tax, financial or legal advice given by Nantucket to any party. Neither Nantucket nor any of its affiliates is undertaking to provide any investment advice to an investor in a fiduciary capacity in connection with an investment in any Nantucket FOF.
Each Nantucket FOF is a private unregistered investment vehicle and is, therefore, not subject to the same regulatory/disclosure requirements as a registered investment company (e.g., a mutual fund). Nantucket Fund, LP (the “Master Fund”) allocates substantially all of its assets to independent portfolio managers that pursue various alternative investment strategies through many markets including foreign markets; these portfolio managers invest in public securities and, depending upon the manager, private securities as well. Because of the nature of a fund-of-funds structure, an investment in a Nantucket FOF involves multiple layers of fees which can negatively effect performance results. Investments in a Nantucket FOF or any of its underlying managers are illiquid, are subject to significant transfer restrictions and have no secondary trading market.
Nantucket FOF performance figures are presented assuming a new issue eligible investor who invested at inception and who was charged the highest fee structure possible in all periods. Nantucket FOF performance figures in this correspondence are calculated by an independent administrator, are net of management fees and (when applicable) incentive allocations, are estimated and unaudited based on estimated and unaudited net asset valuations or net performance measurements supplied by the relevant underlying manager or its administrator, unless otherwise stated, and are subject to final year-end audit and adjustment. The performance of the underlying managers in a Nantucket FOF have not been independently verified by Nantucket or our accountants. The Nantucket FOFs’ annual audits are generally completed by June 30th of the following year which should be taken into consideration when reviewing a Nantucket FOF’s performance (i.e., performance for the prior year is estimated until the annual audit for that year is completed and the relevant Nantucket FOF’s books are adjusted as necessary). Fees and performance results may vary by investor in certain of the Nantucket FOF as a result of the size or timing of investment; each investor will receive periodic statements from the Nantucket FOF independent administrator (which will include individualized performance reporting). Investors in Nantucket Institutional Fund (Cayman) SPC (the offshore feeder fund) may experience different performance than the Master Fund due to operating expenses and withholding taxes. Investors in Nantucket Levered, LLC (the leveraged feeder fund) may experience more volatile performance and at times possibly lower performance than the Master Fund due to the cost and investment effects of leverage, especially in a combined high interest rate and low return environment. The risk free rate is defined as the Citigroup 3-month Treasury Bill as it relates to applicable performance statistics. There can be no assurance that comparable historical investment returns can be achieved by any Nantucket FOF or underlying manager mentioned herein, therefore, PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
The information contained in this communication may contain forward-looking statements that reflect the current views of Nantucket and/or its principals or employees (collectively, the “Company”), with respect to future business or performance of Nantucket, a Nantucket FOF or any of its underlying managers. Any forward-looking statements contained in this correspondence are based upon historical information and the current plans, estimates and expectations of the Company, are subject to numerous assumptions and are subject to change without notice. The inclusion of forward-looking information should not be regarded as a representation by the Company that the future plans, estimates or expectations of Nantucket, a Nantucket FOF, or underlying manager will be achieved. Such forward-looking statements are subject to various risks and uncertainties, including but not limited to global and domestic market and business conditions. If one or more risks or uncertainties materialize, or if the Company’s assumptions prove to be incorrect, actual performance results may vary materially from those indicated in the forward-looking statement.
Any modeled, hypothetical or simulated returns are not actual results, are based on certain assumptions and have many inherent limitations and should not be considered an indication of the skillset of Nantucket or performance of any Nantucket FOF. There are frequently sharp differences between hypothetical, modeled or simulated performance versus the actual record subsequently achieved.
Nantucket (the general partner, managing member or investment manager of each Nantucket FOF, as applicable) is registered as an investment adviser with the Securities and Exchange Commission (“SEC”) under the Investment Adviser Act of 1940, as amended. However, Nantucket is exempt from registration with the Commodity Futures Trading Commission (“CFTC”) as a commodity pool operator pursuant to Rule 4.13(a)(3) and in reliance on CFTC No-Action Relief issued in 2012 and, therefore, is not subject to the CFTC rules requiring the delivery of a disclosure document or a certified annual report to existing or prospective investors. For additional information on Nantucket, please refer to Nantucket’s current Form ADV, which can be accessed at http://www.adviserinfo.sec.gov. Conflicts of interest are described in the “Risk Factor” section of the relevant Nantucket FOF Confidential Private Placement Memorandum, as well as in Part 2A of Nantucket’s Form ADV.
Index and manager data is obtained from private sources and public databases such as Evestment, Hedge Fund Research, Standard & Poors, MSCI and other databases and is believed to be accurate but is not independently verified. Certain indices referred to are used as proxies for certain market segments only and are generally not investable. No representation is made that the Master Fund is managed to or designed to replicate any indices or benchmarks shown, either in composition or element of risk involved. Such comparisons are solely to illustrate the relevant Nantucket FOF performance against the index shown. The HFRI FOF Diversified Index is an index maintained by Hedge Fund Research, Inc. that includes funds of hedge funds that invest “in a variety of strategies among multiple managers;” this is used by Nantucket as a peer group proxy. MSCI World TR Net (aka MSCI World-ND or MSCI World) is the total return of the MSCI World Index, including the reinvestment of dividends, and net of estimated international taxes for a U.S. investor; this is used by Nantucket as a global equities proxy. The Barclays Global Aggregate Index is used by Nantucket as a global bonds proxy. Index performance, where stated, is reported with dividends re-invested unless otherwise noted.
Information contained in these materials is obtained from sources we deem to be reliable; however, we do not guarantee its accuracy and is subject to change without notice.
Information in this communication is confidential and proprietary, and you may not copy, transmit or distribute Nantucket information, or any data or other information contained therein, or authorize such actions by others, without Nantucket’s express prior written consent, except that you may share Nantucket information with your professional advisors. If you are a professional financial adviser, you may share Nantucket information with those of your clients that you reasonably determine to be eligible to invest in the relevant Nantucket FOF. Nantucket assumes no responsibility with respect to Nantucket information shared that is presented in a format different from this report.
Updated: 07/30/2019
Nantucket Multi Managers, LLC Disclosure
Please note that this communication
does not constitute an offer to sell, nor is it a solicitation of an offer
to purchase an interest in any fund-of-funds managed by Nantucket Multi
Managers, LLC (“Nantucket” and “Nantucket FOF,” respectively)
nor any of its underlying managers. Any
such offer or solicitation can be made only by the delivery of the current Confidential
Private Placement Memorandum of the relevant Nantucket FOF which should be read
carefully, especially the “Risk Factors” section, before making a decision to
invest in any fund. An investment in
any Nantucket FOF should be considered speculative and involves substantial
risk due to, among other things, the nature of the Nantucket FOF’s investment
strategy and techniques, the significant fees and costs associated with such an
investment and the illiquidity of interests.
You should consider an investment in a Nantucket FOF only for an
appropriate portion of your overall portfolio.
There is no assurance that a Nantucket FOF investment will achieve its stated
objectives. Investors must independently
assess the suitability of any particular investment opportunity and carry out
any due diligence that they require with respect to the strategies used or
investments made by a Nantucket FOF or underlying manager; in doing so, investors
should seek advice from their own advisers.
Nothing in this communication shall
be deemed to constitute tax, financial or legal advice given by Nantucket to
any party. Neither Nantucket nor any of
its affiliates is undertaking to provide any investment advice to an investor
in a fiduciary capacity in connection with an investment in any Nantucket FOF.
Each Nantucket FOF is a private
unregistered investment vehicle and is, therefore, not subject to the same
regulatory/disclosure requirements as a registered investment company (e.g., a mutual fund). Nantucket Fund, LP (the “Master Fund”) allocates substantially all of its assets to independent
portfolio managers that pursue various alternative investment strategies through
many markets including foreign markets; these portfolio managers invest in
public securities and, depending upon the manager, private securities as
well. Because of the nature of a
fund-of-funds structure, an investment in a Nantucket FOF involves multiple
layers of fees which can negatively effect performance results. Investments in a Nantucket FOF or any of its
underlying managers are illiquid, are subject to significant transfer
restrictions and have no secondary trading market.
Nantucket FOF performance figures
are presented assuming a new issue eligible investor who invested at inception
and who was charged the highest fee structure possible in all periods. Nantucket FOF performance figures in this
correspondence are calculated by an independent administrator, are net of
management fees and (when applicable) incentive allocations, are estimated and
unaudited based on estimated and unaudited net asset valuations or net
performance measurements supplied by the relevant underlying manager or its administrator,
unless otherwise stated, and are subject to final year-end audit and adjustment.
The performance of the underlying managers in a Nantucket FOF have not been
independently verified by Nantucket or our accountants. The Nantucket FOFs’ annual audits are generally
completed by June 30th of the following year which should be taken into
consideration when reviewing a Nantucket FOF’s performance (i.e., performance for the prior year is
estimated until the annual audit for that year is completed and the relevant
Nantucket FOF’s books are adjusted as necessary). Fees and performance results may vary by
investor in certain of the Nantucket FOF as a result of the size or timing of
investment; each investor will receive periodic statements from the Nantucket
FOF independent administrator (which will include individualized performance
reporting). Investors in Nantucket
Institutional Fund (Cayman) SPC (the offshore feeder fund) may experience
different performance than the Master Fund due to operating expenses and
withholding taxes. Investors in
Nantucket Levered, LLC (the leveraged feeder fund) may experience more volatile
performance and at times possibly lower performance than the Master Fund due to
the cost and investment effects of leverage, especially in a combined high
interest rate and low return environment.
The risk free rate is defined as the Citigroup 3-month Treasury Bill as
it relates to applicable performance statistics. There can be no assurance that comparable
historical investment returns can be achieved by any Nantucket FOF or
underlying manager mentioned herein, therefore, PAST PERFORMANCE IS NOT
NECESSARILY INDICATIVE OF FUTURE RESULTS.
The information contained in this
communication may contain forward-looking statements that reflect the current
views of Nantucket and/or its principals or employees (collectively, the
“Company”), with respect to future business or performance of Nantucket, a Nantucket
FOF or any of its underlying managers. Any
forward-looking statements contained in this correspondence are based upon
historical information and the current plans, estimates and expectations of the
Company, are subject to numerous assumptions and are subject to change without
notice. The inclusion of forward-looking
information should not be regarded as a representation by the Company that the
future plans, estimates or expectations of Nantucket, a Nantucket FOF, or underlying
manager will be achieved. Such
forward-looking statements are subject to various risks and uncertainties,
including but not limited to global and domestic market and business
conditions. If one or more risks or
uncertainties materialize, or if the Company’s assumptions prove to be
incorrect, actual performance results may vary materially from those indicated
in the forward-looking statement.
Any modeled, hypothetical or
simulated returns are not actual results, are based on certain assumptions and
have many inherent limitations and should not be considered an indication of
the skillset of Nantucket or performance of any Nantucket FOF. There are frequently sharp differences
between hypothetical, modeled or simulated performance versus the actual record
subsequently achieved.
Nantucket (the general partner, managing
member or investment manager of each Nantucket FOF, as applicable) is
registered as an investment adviser with the Securities and Exchange Commission
(“SEC”) under the Investment Adviser Act of 1940, as amended. However, Nantucket is exempt from
registration with the Commodity Futures Trading Commission (“CFTC”) as a
commodity pool operator pursuant to Rule 4.13(a)(3) and in reliance on CFTC
No-Action Relief issued in 2012 and, therefore, is not subject to the CFTC rules
requiring the delivery of a disclosure document or a certified annual report to
existing or prospective investors. For
additional information on Nantucket, please refer to Nantucket’s current Form ADV,
which can be accessed at http://www.adviserinfo.sec.gov. Conflicts of interest are described in the
“Risk Factor” section of the relevant Nantucket FOF Confidential Private
Placement Memorandum, as well as in Part 2A of Nantucket’s Form ADV.
Index and manager data is obtained from
private sources and public databases such as Evestment, Hedge Fund Research, Standard
& Poors, MSCI and other databases and is believed to be accurate but is not
independently verified. Certain indices
referred to are used as proxies for certain market segments only and are generally
not investable. No representation is
made that the Master Fund is managed to or designed to replicate any indices or
benchmarks shown, either in composition or element of risk involved. Such comparisons are solely to illustrate the
relevant Nantucket FOF performance against the index shown. The HFRI FOF Diversified Index is an index
maintained by Hedge Fund Research, Inc. that includes funds of hedge funds that
invest “in a variety of strategies among multiple managers;” this is used by
Nantucket as a peer group proxy. MSCI
World TR Net (aka MSCI World-ND or MSCI World) is the total return of the MSCI
World Index, including the reinvestment of dividends, and net of estimated
international taxes for a U.S. investor; this is used by Nantucket as a global
equities proxy. The Barclays Global
Aggregate Index is used by Nantucket as a global bonds proxy. Index performance, where stated, is reported
with dividends re-invested unless otherwise noted.
Information contained in these materials is obtained from
sources we deem to be reliable; however, we do not guarantee its accuracy and
is subject to change without notice.
Information in this communication
is confidential and proprietary, and you may not copy, transmit or distribute
Nantucket information, or any data or other information contained therein, or
authorize such actions by others, without Nantucket’s express prior written
consent, except that you may share Nantucket information with your professional
advisors. If you are a professional
financial adviser, you may share Nantucket information with those of your
clients that you reasonably determine to be eligible to invest in the relevant
Nantucket FOF. Nantucket assumes no responsibility
with respect to Nantucket information shared that is presented in a format
different from this report.
Updated: 07/30/2019