Alpha Alternative Assets Fund

Last Updated 04/05/2024

This fund recently launched or we are in the process of collecting the data

Shows hypothetical growth of $1000 since inception

Nav Per Share

0%

Current Yield

0.00%

Total Return

Inception

Total Managed Assets*

AAJIX

Ticker

Minimum Investment

%

Net Expense Ratio

*represents total managed funds for the fund complex

About The Fund

The Alpha Alternative Assets Fund, registered on 10/1/2021, is the first interval fund with an explicit focus on "longevity-based assets," a broadly-defined range of investments related to supporting an aging population in the U.S. and globally.


There are more than 94 million Americans born after 1947 living in this country, and Alpha Growth PLC launched the Alpha Alternative Assets Fund to finance the immediate and future needs of this population segment, while seeking to provide current income and long-term capital appreciation to institutional investors who participate.


The Fund intends to concentrate more than 25% of investments in the insurance industry, primarily securitized life settlement contracts and annuities, but expects to gain exposure to senior living real estate, as well as associated private debt and private equity funds. Alpha Growth hired sub-adviser Haven Asset Management to invest in highly liquid, high yield securities along with leverage not to exceed 1/3 of the Fund's net assets plus borrowings.


Alpha Growth PLC (LON:ALGW) is headquartered in the United Kingdom with offices in London and Newport Beach, with over USD $300m under management.



From the Fund's prospectus:


The Fund: Alpha Alternative Assets Fund is a continuously offered, non-diversified, closed-end management investment company. See “The Fund.” The Fund is an interval fund that will offer to make quarterly repurchases of its shares at the NAV of the applicable class of shares. See “Quarterly Repurchases of Shares.”


Investment Objective: The Fund’s investment objective is current income and long-term capital appreciation.


Investment Strategy: The Fund seeks to achieve its investment objective by investing primarily in “longevity-based assets.” Longevity-based assets include financial instruments across a range of asset types, qualities, and sectors that produce returns contingent upon (i) the continued aging of the U.S. and global population, and (ii) individual life expectancies within the 70+ age cohort. Specifically, longevity-based assets consist of debt securities, including whole loans and securitizations of life settlements, annuities, and pharmaceutical and medical patent royalties; preferred and common equity securities that provide exposure to longevity-based industries and sectors such as life insurance; debt and surplus notes of life insurance companies; and real estate based assets including reverse mortgages and tax liens (lending products used by homeowners as they age), real estate lending secured by senior housing, assisted living facilities, hospitals and other geriatric specific healthcare facilities.


The Fund may gain exposure to longevity-based assets by investing in the following types of instruments:


· 

Securitizations of life and annuity investments: Life settlements are sales to third parties of existing life insurance contracts for more than their cash surrender value but less than the net benefits to be paid under the policies. When the third party acquires such a contract, it pays the policy premiums in return for the expected receipt of the net benefit as the beneficiary under the policy. These policies are considered illiquid because they are bought and sold in a secondary market through life settlement agents. The Fund gains exposure to life settlement contracts through investments in securitized products, where the issuer of the security is responsible for servicing the individual contracts. Securitized annuities are sales to third parties, such as the Fund, of an interest in annuity cash flows. The underlying annuities can be either fixed, whereby the Fund receives the annuity payment on a periodic basis for a specified period of time, or life-contingent, whereby the Fund receives periodic payments for the duration of the underlying insured’s life.

·

 Real Estate: Includes equity investments in legal entities (e.g., partnerships and limited liability companies) that hold underlying properties in the senior living sector. Investments may also be made in the debt, preferred equity or mortgages relating to such properties.

· 

Private Debt: Includes loans and similar investments typically made in private companies that are negotiated directly with the borrower, including first and second lien senior secured loans, hybrid loans (i.e., a combination of senior and subordinated debt), unsecured debt, and subordinated debt. Private debt will also include alternative lending arrangements such as pre-settlement financing for individual life settlements, lending facilities to life and annuity settlement investors, and securitized royalty contracts for pharmaceuticals.

· 

Private Equity: Includes investment in private equity funds, including primary interests (investments in newly established funds during initial capital raising) and secondary interests (interests in existing private equity funds that are acquired through private negotiation).

·

 Public Securities: Includes common stock and preferred stock of publicly traded companies, public debt, investments in master limited partnerships (“MLPs”), and publicly traded and non-traded business development companies (“BDCs”) and real estate investment trusts (“REITs”).




Adviser: Alpha Growth Management, Inc.

Sub-Adviser: Haven Asset Management (Interval Funds) LLC

Administrator: ALPS Fund Services Inc.

Legal Counsel: Thompson Hine LLP

Partner: JoAnn M. Strasser

Distributor: ALPS Distributors, Inc.

Transfer Agent: DST Systems, Inc.

Fund Materials

HISTORICAL DATA

Percentage and dollar changes represent the increase or decrease in the NAV from the preceding trading day.

Regulatory Materials

Prospectus - 10/1/2021 - Alpha Alternative Assets Fund

Alpha Alternative Assets Fund - Class I

SEC

Date

2021