Distributed by Foreside Fund Services, LLC. Please consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus (included on this site) contains this and other information about the Fund. You may download the prospectus by clicking on the attachment. You may also obtain a prospectus, by contacting your financial advisor. Please read the Fund’s prospectus carefully before investing.
Any performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted.
The Archstone Alternative Solutions Fund (the “Fund”) is not necessarily suitable for all eligible investors. The investment program of the Fund is speculative and involves substantial risks. There can be no assurance that the investment objective of the Fund will be achieved. The investment performance of the Fund will depend on the performance of the Portfolio Managers with which the Fund invests, and the Fund’s Investment Manager’s ability to select Portfolio Managers and to allocate and reallocate effectively the Fund’s assets among Portfolio Managers.
The shares of the Fund (“Shares”) will not be traded on any securities exchange or other market and will be subject to substantial restrictions on transfer. Liquidity will be provided to shareholders of the Fund (“Shareholders”) only through repurchase offers currently expected to be made from time to time by the Fund. There is no assurance that a Shareholder tendering Shares for repurchase in connection with a repurchase offer made by the Fund will have those Shares repurchased in that repurchase offer.
The Fund’s Investment Manager may have little or no means of independently verifying information provided by Portfolio Managers and thus, may not be able to ascertain whether Portfolio Managers are adhering to their disclosed investment strategies and their investment and risk management policies. The Fund relies primarily on information provided by Portfolio Managers in valuing its investments in underlying funds. There is a risk that inaccurate valuations provided by Portfolio Managers could adversely affect the value of Shares and the amounts Shareholders receive upon the repurchase of Shares. Because underlying funds generally will provide net asset value information on a monthly basis, and may not provide detailed information on their investment positions, the Fund generally will not be able to determine the fair value of its investments in underlying funds or its net asset value other than as of the end of each month and may not be able to verify valuation information given to the Fund by Portfolio Managers.
Each Portfolio Manager will receive any performance-based fees or allocations to which it is entitled irrespective of the performance of the other Portfolio Managers and the Fund generally. Accordingly, a Portfolio Manager with positive performance may receive performance-based compensation from the Fund, which will be borne indirectly by Shareholders, even if the Fund’s overall returns are negative.
There are risks involved with investing, including possible loss of principal. The Fund is non-diversified and may invest a greater portion of its assets in securities of a small number of issuers which may have an adverse effect on Fund performance. Portfolio Funds may, in some cases, concentrate their investments in a single industry or group of related industries. This increases the sensitivity of their investment returns to economic factors affecting that industry or group of industries. Each Portfolio Fund is subject to its own specific risk factors. The Portfolio Funds may be comprised of securities of companies that are traded on foreign exchanges and domiciled in foreign markets. Other Portfolio Fund risks include: counterparty credit risk, derivatives risk, equity risk, emerging market risk, fixed income risk, foreign investments risk, futures contract risk, hedging risk, hedge fund risk, incentive allocation risk, leverage risk, liquidity risk, multi-manager risk, options risk, regulatory risk, unregistered portfolio investment risk, and volatility risk. Please see the prospectus for detailed information regarding risks applicable to the Fund and Portfolio Funds.