ACAP Strategic Fund
Last Updated 08/21/2023
Shows hypothetical growth of $1000 since inception
Total Managed Assets*
Net Expense Ratio
*represents total managed funds for the fund complex
About The Fund
From the Fund's Prospectus:
ACAP Strategic Fund (the “Fund”) is a Delaware statutory trust that is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a closed-end management investment company. The Fund operates as a diversified investment company and as an interval fund under Rule 23c-3 of the 1940 Act and, as such, offers to repurchase between 5% - 25% of its outstanding shares at their net asset value as of or prior to the end of each fiscal quarter. SilverBay Capital Management LLC serves as the investment adviser of the Fund (the “Adviser”).
Investment Objective: The Fund’s investment objective is to achieve maximum capital appreciation. There can be no assurance that the fund will achieve its investment objective.
Principal Investment Strategies: The Fund pursues its objective by investing its assets primarily in publicly-traded equity securities of U.S. and foreign companies that the Adviser believes are well positioned to benefit from demand for their products or services, including companies that can innovate or grow rapidly relative to their peers in their markets. The Fund also pursues its objective by effecting short sales of securities when the Adviser believes that the market price of a security is above its estimated intrinsic or fundamental value. The Fund may also borrow money for investment purposes, i.e., leverage its assets. The Fund may also generate leverage through engaging in securities lending. Short sales, swaps and the use of leverage (either directly or through securities lending) are speculative investment practices and involve a high degree of risk.
Advisor: SilverBay Capital Management LLC
Administrator: BNY Mellon Investment Servicing (US) Inc.
Legal Counsel: Kramer Levin Naftalis & Frankel LLP
Public Accounting Firm: Grant Thornton LLP
Distributor: Breakwater Group Distribution Services, L.L.C.
Custodian: The Bank of New York Mellon
Transfer Agent: BNY Mellon Investment Servicing (US) Inc.
Percentage and dollar changes represent the increase or decrease in the NAV from the preceding trading day.