2 Risk Considerations
The objective of the fund is to offer exposure, through its investment in the Master Fund, to a diversified portfolio of investments with a focus on current income and capital appreciation. The fund is subject to the following risks: Debt and credit-related instruments, Risk related to bank debt, Risk related to lower credit quality securities, High yield debt securities, Risk relating to senior direct lending.
The use of financial derivative instruments and borrowings will result in the creation of leverage, calculated as follows: Gross method, maximum 175% of Net Asset Value - Commitment method, maximum 175% of Net Asset Value. This is not an exhaustive list of the risks. Other risks apply, differ by share class and are subject to change. For more information on the risks please read the prospectus of the Fund and KID where applicable, in particular the risks section.
2 Important Information
The information contained herein is confidential, nonpublic and proprietary. This material is intended for professional and institutional investors only and is not intended to be directed at or made available to retail clients or US Persons. The information contained in this document is only for general information on products and services provided by Lumyna Investments Limited (“Lumyna”) and Generali Investments Luxembourg S.A (“GIL”), as Management Company of Lumyna Alternative Funds SICAV. This is not an offer of securities in the United States. It shall under no circumstances constitute an offer, recommendation or solicitation to subscribe units/shares of undertakings for collective investment in transferable securities or an offer of investment services. It is not linked to nor is it intended to be the foundation of any contract or commitment. It shall not be considered as an explicit or implicit recommendation of any investment strategy or as investment advice. None of Lumyna, GIL or King Street accept responsibility for mistakes or omissions in this document and shall not be liable in respect of any damages or losses related to the improper use of the information provided herein. Where forward-looking statements are used, it should be noted that these may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including general economic conditions, future acquisitions and competitive conditions. Lumyna and GIL undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. Investment in the Funds carries substantial risk. There can be no assurance that the investment objectives of the Funds will be achieved and investment results may vary substantially over time. Investment in the Funds is not intended to be a complete investment programme for any investor. Investment in the Funds is intended for experienced investors who are able to understand and accept the risks involved. A prospective investor should appreciate that the value of any investment, and any income from any investment, may go down as well as up and that an investor’s capital is at risk and the investor may not receive back the amount invested. Past performance is not indicative of future results. King Street’s market characterization is based on subjective determinations that it believes are reasonable, and information herein includes third-party data that King Street believes is reliable but has not independently verified. There can be no assurance historical trends will continue. All figures as of December 31, 2024 unless otherwise noted.
The content of this Report is based in part on information from third-party sources, including third-party research, newspaper articles and white papers, which third-party sources King Street believes to be reliable, but no representations, guarantees or warranties of any kind are made as to the accuracy or completeness of such third-party information, and King Street does not accept any liability for any loss or damage which may arise directly or indirectly from the use of, or reliance upon, such information. Any financial indicators or market benchmarks shown are for illustrative and/or comparative purposes only, may not be available for direct investment, are unmanaged, assume reinvestment of income, and have limitations when used for comparison or other purposes because they may have volatility, credit, or other material characteristics (such as number and types of securities or instruments) that are different from the Fund. All classifications and calculations are made at King Street’s judgment and discretion, are for informational purposes only and are subject to change without notice or update. Certain statements in this section reflect King Street’s subjective expectations, views and beliefs as of the date hereof and are subject to change without notice.
The Report was prepared for the Fund’s limited partners and is provided for historical reference only. The Report is not, and should not be construed as, offering investment advisory services or as an offer to sell or a solicitation of an offer to purchase interests in any vehicle managed or advised by King Street. Any investment performance included in the Report has been preserved to accurately illustrate the context in which the Report was prepared but should not be relied upon as a source for historical returns and has not been updated.
2 Important Disclosures
This material is intended for professional and institutional investors only and is not to be directed at or made available to retail clients or US Persons. If the reader of this message is not the intended recipient you are hereby notified that any dissemination, distribution, copying, or other use of this transmission is strictly prohibited.
2 Investment Risks
Investment in the Funds carries substantial risk. There can be no assurance that the investment objectives of the Funds will be achieved and investment results may vary substantially over time. Investment in the Funds is not intended to be a complete investment programme for any investor. Investment in the Funds is intended for experienced investors who are able to understand and accept the risks involved.
A prospective investor should appreciate that the value of any investment, and any income from any investment, may go down as well as up and that an investor’s capital is at risk and the investor may not receive back the amount invested.
Past performance is not indicative of future results. Holdings and allocation data is subject to change and is for illustrative purposes only. This marketing communication does not contain all the risks associated with an investment in the Funds. Persons considering investing in a Fund should have regard to, among other matters, the considerations described under the heading “Risk Factors” in the Prospectus and the statements set out under the Risk headings in the relevant Supplement. Please refer to the Prospectus and key investor information documents (“KIDs”, where applicable) for the Funds for more information on general terms of investment in the Funds, risks associated with such investment and the fees. Investors should only invest in the Funds once they have carefully reviewed the most recent Prospectus and relevant KIDs as well as the latest financial reports. Applications to invest in the Fund must only be made on the basis of the Prospectus, the KIDs and subscription documentation. The current Prospectus, KIDs and annual and semi-annual reports of the Funds are available from www.lumyna.com. The Funds may not be suitable investments for you and you should therefore seek professional investment advice before making a decision to invest in any of the Funds.
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IMPORTANT INFORMATION
This communication has been prepared by Generali Asset Management S.p.A. Società di gestione del risparmio based on information and opinions of the affiliated asset management companies of the Generali Investments Holding S.p.A. holding, relaying on sources both within and outside the Generali Group. While such information is believed to be reliable for the purposes hereof, no representation or warranty, express or implied, is made that such information or opinions are accurate or complete. The information, opinions, estimates and projections contained in this document are as of the date of this publication and represent only the judgment of the respective affiliate asset management company and are subject to change without notice. They should not be considered as a recommendation, explicit or implicit, regarding an investment strategy or advice. Before subscribing to any investment service offer, each potential client will receive all the documents provided for by the regulations in force from time to time, which the client is required to read carefully before making any investment decision. The cited asset management companies may have made, and may in the future make, investment decisions for the portfolios under management that are contrary to the views expressed here. Generali Investments Holding S.p.A. and the affiliated asset management companies assume no responsibility for any errors or omissions and shall not be liable for any damages or losses arising from the improper use of the information provided herein.
Generali Asset Management S.p.A. Società di gestione del risparmio is authorised as Italian asset management company, regulated by Bank of Italy (Via Niccolò Machiavelli 4, Trieste, 34132, Italia - C.M. n. 15376 - LEI: 549300DDG9IDTO0X8E20).
Aperture Investors UK Ltd is authorized as Investment Manager in the United Kingdom, regulated by the Financial Conduct Authority (FCA) - 135-137 New Bond Street, London W1S 2TQ, United Kingdom – UK FCA reference n.: 846073 – LEI: 549300SYTE7FKXY57D44. Aperture Investors, LLC is authorized as investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”) which wholly owns Aperture Investors UK, Ltd, altogether referred as (“Aperture”).
Lumyna Investments Limited (“Lumyna”) is authorized as Investment Manager in the United Kingdom, regulated by the Financial Conduct Authority (FCA) - 11 Bressenden Place, London, SW1E 5BYS, United Kingdom - UK FCA reference n.: 613481 - LEI: 549300O2NNE4X00RNP42.
