THESIS OPTIMA FUND PROSPECTUS

Distressed securities strategies are not limited to a particular asset class; they are active in bonds, stocks, bank debt, trade claims, private placements, warrants, etc. The Investment Funds may purchase securities of companies in initial public offerings or shortly after those offerings are complete. The Adviser or its affiliates, including the Principal Underwriter, also may pay from their legitimate profits additional compensation to the Placement Agents in connection with placement of Shares or servicing of investors. If before the end of any quarter of its taxable year, the Company believes that it may fail the Subchapter M asset diversification requirement, the Company may seek to take certain actions to avert such a failure. Similarly, identification of attractive investment opportunities by Investment Funds is difficult and involves a high degree of uncertainty. Dollar, pressure on oil prices, rising corporate leverage, abnormally low global interest rates, structural stresses in the European Union, international terrorist activity, armed conflict and risk of armed conflict in the Middle East, East Asia and elsewhere and other geopolitical risks and the reduced ability of bank proprietary trading desks or dealer balance sheets to meet liquidity shocks.

In seeking to achieve its stated objectives, the Adviser will consider rebalancing the portfolio of the Company periodically to maintain what it considers to be the appropriate mix of trading styles and investment strategies given its prevailing market views. Because alternative investment strategies may be risky, the Adviser believes it is prudent for the Company generally to invest in these strategies through Investment Funds organized as limited partnerships or other limited liability investment vehicles. The Adviser bears all of its own costs incurred in providing investment advisory services to the Company. The Policies provide that the Adviser will vote client proxies in a manner that serves the best interest of the client, as determined by the Adviser in its discretion, taking into account relevant factors, including: Although the Company expects to offer to repurchase Shares of the Company from the Shareholders from time to time, no assurance can be given that these repurchases will occur. Some of these securities or other instruments may be restricted or illiquid so that it may not be possible to sell them at the most opportune times or at prices approximating the value at which they were purchased. ETNs are generally notes representing debt of the issuer, usually a financial institution.

thesis optima fund prospectus

Distributions from net realized gains. Relative Value Arbitrage Strategies.

Thesis Optima Income B Acc (B8FLKT2.L)

The listed shareholder is not affiliated with the Company. Merger arbitrage positions also are subject to the risk of overall market movements. Although the Company expects to offer to repurchase Shares of the Company from the Shareholders from time to time, no assurance can be given that these repurchases will occur.

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Investment Funds may permit or require that redemptions of interests be made in kind. Edward Fane, Lead Manager since August 31, The trading models may be focused on technical or fundamental factors or a combination of factors. Relative value arbitrage strategies include: The Investment Funds generally are not limited in the markets in which they invest, either by location or type, such as U.

These risks will, in turn, have an effect on the Company. Conventional registered investment companies, such as mutual funds, generally are subject to significant regulatory restrictions in designing their own investment strategies relating to the use of leverage and the ability to sell securities short. These Investment Funds primarily unregistered investment funds, and to a limited extent, registered investment companies are expected to have investors other than the Company.

President and Director Chair. ETF shares are subject to the same risks as those of registered investment companies more generally, as described below. The Board of Directors has formed an Audit Committee currently composed of each of the three Independent Directors, the functions of which are: Future legislative, judicial or administrative action could adversely affect the ability of the Investment Funds and the Company to implement their investment program and conduct their operations.

This structure limits the effect that losses incurred by any one Investment Fund will have on the assets of the Company by limiting the amount at risk to the amount invested in that Investment Fund. A greater rate of return than that used in the Example would increase certain fees and expenses paid by the Company.

Investment decisions of the Investment Funds are made by the Investment Managers independently of each other so that, at any particular time, one Investment Fund may be purchasing shares of an issuer whose shares are being sold at the same time by another Investment Fund.

thesis optima fund prospectus

These techniques include short selling, options trading, trading in securities convertible into or exchangeable for the securities involved in the reorganization and investing in financial futures or other futures markets that the Investment Manager deems to be a o;tima profitable investment strategy or hedge.

Transactions entered into directly between two counterparties generally do not benefit from these protections, which in turn may subject an Investment Fund or the Company to the risk that a counterparty will not settle a transaction in accordance with its terms and conditions because of a dispute over the terms of the contract or because of a credit or liquidity problem.

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Securities that are rated by rating agencies are often reviewed and may be subject to downgrade, which generally results in a decline in the market value of such security. The Company may seek to gain investment exposure to certain Investment Funds or Investment Managers which may fundd into derivative transactions, such as total return swaps, options and futures.

Thesis Optima Income B Acc (B8FLKT2.L) Company Profile & Facts

A decline in actual or implied stock volatility of the issuing companies can cause premiums to contract on the convertible bonds. The Chair of the Board of Directors is Mr.

The Directors believe that Mr. Pptima Ended March 31, For example, the adoption of new business strategies or completion of asset dispositions or debt reduction programs by a company may not be valued as highly by the market as the special situations manager had anticipated, resulting in losses. Net assets, end of year. The Adviser seeks to monitor the operations and performance of an Investment Fund as frequently as the Adviser believes is appropriate in light of the investment strategy followed by the Investment Manager and prevailing market conditions.

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Trading and clearing volumes are directly affected by economic, political and market conditions, broad trends in business and finance, unforeseen market closures or other disruptions in trading, the level and volatility of interest rates, inflation, changes in price levels of securities and the overall level of investor confidence. First, particular investments may experience outright losses, as in the case of an interest-only security in an environment of faster-than-expected actual or anticipated prepayments.

When necessary, we may change a category assignment based on recent changes to the portfolio. Under the LLC Agreement, the Company may issue one or more series of shares, but the Company presently does not expect to organize different series of shares. The adverse effects of prepayments may indirectly affect the Company in two ways.