What We Do
The Autumn Wind Global Multi-Strategies Fund is better considered an alternative to fixed income securities than equities. While we do allocate capital to private companies there is always a yield component that serves as the basis for the investment. We are not a venture capital or private equity fund.We broadly think of asset classes and strategies suitable for the Fund as belonging to the following groups (percentages are representative weights in each group over time):
1. Base Yield (50%): Strategies that establish the base yield of the fund with a target no less than 2x the rate of inflation.These include direct lending, corporate assets secured with leases, and asset backed securities.
2. Bond Proxy (25%): Strategies that target 6-8% returns derived independent of interest rate movements. Examples include statistical arbitrage, pairs trading, and closed-end fund arbitrage.
3. Capital Appreciation (20%): Investments whose returns depend on an asset increasing in price. Minimal interest ordividend cash flow support. Examples include private equity, and occasionally, long equity exposure.
4. Risk Overlay (5%): positions established to protect remaining portfolio or opportunistic trades around improbable eventswith small premiums and large payoffs (Black Swans).
The Fund offers two share classes, A and B. Class A is open to exclusively to wealth management clients of Autumn Wind Asset Management, an SEC-registered investment advisor. Class charges no carried interest or management fee. It is charged the same flat fee that all other investments are charged. This eliminates any conflict over fees and allows us to move money to the asset class with the most attractive risk adjusted returns without changing a client’s management fee. Class B charges a management fee and carried interest and is designed for clients who want exposure to the hedge fund but do not need full wealth management services.