The market for these instruments may also be limited and some companies may limit the intervals for redemptions. Restricted financial instruments may involve a high degree of business and financial risk which may result in substantial losses. Combined with stop losses, such hedges are intended to protect the portfolio in the event trades move meaningfully against the direction the Trend Capital anticipated when making the investment. Further, Trend Capital charges the Funds fees based on a percentage of assets under management via the management fee and performance via the incentive allocation. If you have discretionary authority or custody of client funds or securities, or you require or solicit prepayment of more than $1,200 in fees per client, six months or more in advance, disclose any financial condition that is reasonably likely to impair your ability to meet contractual commitments to clients. for with commission dollaAny use of commissions or soft dollars generated by the Advisory Clients to pay for brokerage and research products or services will fall within the safe harbor created by Section 28(e) of the U.S. Securities Exchange Act of 1934, as amended. Ashburn Market Trends; Ashburn, VA, Summary. These option hedges typically involve the purchase of short-dated options and/or option spreads, but may include other instruments. Explain the conflicts of interest that you or your supervised persons face by managing these accounts at the same time, including that you or your supervised persons have an incentive to favor accounts for which you or your supervised persons receive a performance-based fee and describe generally how you address these conflicts. The Funds global macro investing consists primarily of trading in global interest rates, currencies, credit and equity indices and their related derivatives, in order to exploit fundamental, economic, financial and political trends that may exist in and between developed and emerging markets throughout the world. The Funds may employ swaps for speculative purposes, such as to obtain the price performance of a security without purchasing it in cases where the security is illiquid, unavailable for direct investment or available only on less attractive terms. If there are legal or disciplinary events that are material to a clients or prospective clients evaluation of your advisory business or the integrity of your management, disclose all material facts regarding those events. There are 191 active home listings and 9 new homes for sale in Ashburn, VA. Homes in Ashburn, VA were selling for a median price of $685,000 in November 2022. The Funds also may be exposed to risks that issuers will not fulfill contractual obligations such as, in the case of convertible financial instruments or private placements, delivering marketable common stock upon conversions of convertible financial instruments and registering restricted financial instruments for public resale. The seller of an uncovered put option assumes the risk of a decline in the market price of the underlying financial instrument 27 below the exercise price of the option. Ashwin Vasan Related Companies. If you require or solicit prepayment of more than $1,200 in fees per client, six months or more in advance, include a balance sheet for your most recent fiscal year. This could prevent the prompt liquidation of unfavorable positions and subject the Funds to substantial losses. . Trend Capital has broad investment authority, and may trade in any type of security, issuer or group of related issuers, country, region and sector that it believes will help the Funds achieve their investment objective. Trend Capital ERISA GP LLC is the general partner of the ERISA Master 2 Fund. Risk ManagementActive risk and liquidity management are intended to be important componentsof the strategy. Risks in investments in non-U.S. securities, futures, commodities and other financial instruments may also include reduced and less reliable information about issuers and markets, less stringent accounting standards, illiquidity of securities and markets, higher brokerage commissions and custody fees. Some non-U.S. markets have a higher potential for price volatility and relative. Please see terms and conditions for restrictions on use of Citywire's Fund Manager database. If you do, describe the frequency and nature of the review and the titles of the supervised persons who conduct the review. Fluctuations or prolonged changes in the volatility of such instruments, therefore, can adversely affect the value of investments held by the Funds. If this occurs, Trend Capital may be unable to effectively use its forward trading programs and the Funds could experience significant losses. Each SP of the Opportunities Funds pursues its own investment opportunities, as described further in Item 8.A. In general, Trend Capital may receive a monthly management fee in advance based on the net asset value of the Trend Macro Fund, ERISA Master or applicable SP of the Opportunitiesfeeder funds, payable as of the first day of each month (adjusted for contributions made during the month). Except to the extent that values are independently affected by currency exchange rate fluctuations, when interest rates decline, the value of fixedincome securities generally can be expected to rise. Disclose that you may have an incentive to select or recommend a brokerdealer based on your interest in receiving client referrals, rather than on your clients interest in receiving most favorable execution. However, ETF shareholders are generally subject to the same risk as holders of the underlying securities they are designed to track. Leverage; Borrowing for Operations. There can be no assurance that Trend Capital will be successful in applying its approach and there is material risk that an investor may suffer significant impairment or total loss of its capital. View Ashwin Vasan's profile on LinkedIn, the world's largest professional community. As such, there is a potential conflict of interest related to managing accounts that provide Trend Capital with higher performance-based compensation alongside accounts that provide lower performance-based compensation. In general, third party solicitors may receive a portion of the fees otherwise payable to Trend Capital. In addition, it is possible that Trend Capital may select investments that are concentrated in a limited number or type of financial instruments or assets. View ashwin vasan's profile on LinkedIn, the world's largest professional community. The incentive allocation, if any, will be determined as of each fiscal year end and, with respect to capital withdrawn/redeemed other than as of a fiscal year end, as of the time of such withdrawal/redemption with respect to the withdrawn/redeemed amount. Research and Other Soft Dollar Benefits. A copy of the Firms Allocation Policy can be obtained by contacting Trend Capital. Margin requirements for commodities trading are set by the individual commodity exchanges or other trading facility for each type of commodity contract based upon the perceived volatility of each type of contract. Therefore, many of the risks applicable to trading the underlying asset are also applicable to derivatives trading. The Funds may invest in credit default swaps. Once the price of a futures contract for a particular commodity has increased or decreased by an amount equal to the daily limit, positions in the commodity cannot be taken or liquidated unless traders are willing to effect trades at or within the limit. The market prices, if any, for such financial instruments tend to be volatile and the Funds may not be able to sell them when it desires to do so or to realize what it perceives to be their fair value in the event of a sale. The Trend Capital generally tries to invest the Trend Macro Funds assets in a way that it will be flat or positive carry in aggregate, including the cost of its hedging program. Trend Capital GP LLC is the general partner of Trend Macro Onshore and Trend Macro Fund. The credit default swap market in high yield securities is comparatively new and rapidly evolving compared to the credit default swap market for more seasoned and liquid investment grade securities. If you and the brokerdealer are affiliates or have another economic relationship that creates a material conflict of interest, describe the relationship and discuss the conflicts of interest it presents. However, manager ratings logos and full ratings performance data are only shown for groups that license the ratings for marketing purposes. Describe how clients may obtain information from you about how you voted their securities. Although the ERISA Funds are in scope of the services agreement between Trend Capital and MLPF&S, the ERISA Funds have not been onboarded to the MLPF&S platform. State whether these reports are written. As explained in Item 4.C above, individual investors in the Funds do not have the ability to impose limitations on Trend Capitals discretionary authority. B. The minimum initial investment amount for the Enhanced Return SPs is $100,000,000and the minimum additional investment amount is $100,000, in each case subject to waiver, reduction or change at the discretion of Trend Capital, the respective general partner or the Board of Directors, as applicable. The fact that Trend Capital, 34 its employees, affiliates or their related persons also invest directly (or indirectly via deferred compensation) in any one, some, or all of the Funds creates a potential conflict of interest in that it could cause Trend Capital to make different investment decisions than if they did not have such financial ownership interest. The seller (writer) of a call option which is covered (i.e., the writer holds the underlying financial instrument) assumes the risk of a decline in the market price of the underlying financial instrument below the purchase price of the underlying financial instrument less the premium received and gives up the opportunity for gain on the underlying financial instrument above the exercise price of the option. If you permit a client to direct brokerage, describe your practice. Additional risks associated with derivatives trading include: Tracking. . Trend Capital and its management persons have no other relationships or arrangements with any of the related persons listed above that are material to Trend Capitals advisory business or its clients. It is critical that investors refer to the relevant offering documents for a complete understanding of that Advisory Clients investment objectives and strategies. In addition, as referenced in Item 2 above, the offering documents for the Funds disclose specific trade error policies. Leverage may take the form of, among other things, any of the financial instruments described herein, including, derivative instruments which are inherently leveraged and trading in products with embedded leverage such as options, short sales, swaps and forwards. Incentive AllocationIn addition, the applicable Funds general partner (or other Trend Capital affiliate) may receive an incentive allocation if net profits allocated to the respective master funds capital account exceed net losses allocated to that account, subject to a loss carryforward provision. Volatility. Explain whether clients may impose restrictions on investing in certain securities or types of securities. Companies whose securities are not publicly traded may not be subject to public disclosure and other investor protection requirements applicable to publicly traded securities. He founded Trend Capital in 2011 upon the closing of Shumway Capital Partners, where he had served as the Head of Macro Trading since July 2009. Call Options. Investment Program of Trend Capital. If you are an SEC-registered adviser, briefly describe your code of ethics adopted pursuant to SEC rule 204A-1 or similar state rules. Trend Capital applies rigorous fundamental macroeconomic analysis and a disciplined portfolio construction framework to generate absolute returns with low correlation to the markets. Trend Capital will always select brokers on the basis of seeking best execution and may consider capital introduction services as one among many relevant factors. Refer to Item 12 for further information. Explain the procedures you used during your last fiscal year to direct client transactions to a particular broker-dealer in return for client referrals. Also, the Funds may invest in financial instruments, such as structured products, derivatives and other types of unregistered financial instruments. If you have any . Management fees from the Managed Accounts are payable monthly in arrears. As described in Item 5.B above, each master funds general partner (or other Trend Capital affiliate) receives an incentive allocation, which is performance-based, and Trend Capital receives performancebased compensation for its services on behalf of the Managed Accounts, in each instance subject to a loss carryforward. There can be no assurance that the Funds will be able to secure or maintain adequate financing. Although the ERISA Funds are in scope of the services agreement between Trend Capital and MLPF&S, the ERISA Funds have not been onboarded to the MLPF&S platform. Investment StrategyTrend Capital seeks to identify and capitalize on fundamental trends in interest rates, currencies and credit and equity indices in both developed and emerging markets. The Funds are designed only for experienced and sophisticated persons who are able to bear the risk of substantial impairment or total loss of their investment in the Funds. 2022 Trend Capital Management LP, All Rights Reserved. Emphasis is placed on trade construction, including how each trades volatility and correlations affect the overall portfolio characteristics, in hopes of maximizing risk/return of the Trend Macro Fund or Enhanced Return. The investment manager may also invest up to 10% of the applicable master funds net asset value (determined as of the date of the last purchase) in single-name corporate CDS and other credit securities. Prior to Shumway, Mr. Vasan was a Partner and Portfolio Manager at Tudor Investment Corporation from 1999 to 2009. With respect to the Opportunities Funds, the minimum initial and additional investment amounts depend on the particular SP in which an investor subscribes. Currency transactions made on a spot basis are for cash at the spot rate prevailing in the currency market for buying or selling currency. Explain how often you bill clients or deduct your fees. As a result, the Funds may suffer losses if it invests in equity instruments of issuers whose performance diverges from Trend Capitals expectations or if equity markets generally move in a single direction and the Funds has not hedged against such a general move. The Funds may invest in equities and equity derivatives. The Funds may experience increased interest rate risk to the extent they invest, if at all, in lower rated instruments, debt instruments with longer maturities, debt instruments paying no interest (such as zero coupon debt instruments) or debt instruments paying non-cash interest in the form of other debt instruments. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. An affiliate entity of Trend Capital serves as the general partner to the Funds. Moreover, a disruption in the financing, derivative intermediation and prime brokerage services provided by any party before the Funds establish additional relationships could have a significant impact on the Funds business due to the Funds reliance on such counterparties. Search our database of over 100 million company and executive profiles. Founder and cio at Trend Capital Management LP Delray Beach . Trend Capitals trading program relies on a fundamental-based approach in identifying potential investments. Trend Capital need not solicit competitive bids and does not have an obligation to seek the lowest available commission cost or spread. The balance sheet must be prepared in accordance with generally accepted accounting principles, audited by an independent public accountant and accompanied by a note stating the principles used to prepare it, the basis of securities included and any other explanations required for clarity. If you recommend primarily a particular type of security, explain the material risks involved. 1. was convicted of, or pled guilty or nolo contendere (no contest) to (a) any felony; (b) a misdemeanor that involved investments or an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion; or (c) a conspiracy to commit any of these offenses; 2. is the named subject of a pending criminal proceeding that involves an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, extortion, or a conspiracy to commit any of these offenses; 3. was found to have been involved in a violation of an investmentrelated statute or regulation; or. While the Funds intend to invest in a diversified portfolio, they are not subject to formal diversification guidelines or formal policies limiting the leverage used by the Funds. ERISA). The Funds may take advantage of opportunities with respect to certain other derivative instruments that are not presently contemplated for use or are not currently available, but may be developed, to the extent such opportunities are deemed by Trend Capital to be consistent with the investment objective of the Funds. The information contained in this Item 5 is a summary only and is qualified in its entirety by the relevant offering documents for each Advisory Client. Prior to Shumway, Mr. Vasan was a Partner and Portfolio Manager at Tudor Investment Corporation from 1999 to 2009. 43ITEM 18 FINANCIAL INFORMATION . There are 2 other people named Ashwin Vasan on AllPeople. The respective general partner (or other Trend Capital affiliate) may, in its sole discretion, waive, reduce or calculate differently the incentive allocation with respect to certain investors. Currency and Exchange Rate Risks. TREND CAPITAL LLC is an Active company incorporated on January 19, 2016 with the registered number M16000000511. In addition, the Funds assets are also subject to the risk of the failure of any of the exchanges on which its positions trade or of its clearinghouses or counterparties. If the Funds engage in an offsetting transaction, it will incur a gain or loss to the extent that there has been movement in forward currency contract prices. The fees related to the remaining Managed Accounts are individually negotiated. Explain that directing brokerage may cost clients more money. Provide your fee schedule. ITEM 2 MATERIAL CHANGES . For documentation purposes, Trend Capital will always provide the date of the last annual update of the Brochure. Each such document constitutes a legal, valid and binding obligation of the investor, enforceable in accordance with their respective terms. An equity swap is an agreement to exchange streams of payments computed by reference to a notional amount based on the performance of a basket of stocks or a single stock. Ashwin Vasan has an ownership stake in Trend Capital Management LP of more than 75%. In this episode of the Tony Robbins Podcast, you will hear from Ashwin Vasan, CIO of macro hedge fund Trend Capital.Prior to starting Trend Capital in 2011, Ashwin helped to build a variety of large multi-million dollar businesses including Shumway Capital Partners, Tudor Investment Corporation, Oppenheimer Funds and Citibank. Volatility may also be caused by government intervention, direct and by regulation, in certain markets, particularly those in currencies, financial instruments, futures and options. 4. was the subject of any order, judgment, or decree permanently or temporarily enjoining, or otherwise limiting, your firm or a management person from engaging in any investment-related activity, or from violating any investment-related statute, rule, or order Not applicable. a. Find more info on AllPeople about Ashwin Vasan and Trend Capital Management LP, as well as people who work for similar businesses nearby, colleagues for other branches, and more people with a similar name. This requires different skills and techniques than predicting changes in the price of individual stocks. Ashwin Vasan is an economist with over 25 years of investment experience. If you review client accounts on other than a periodic basis, describe the factors that trigger a review. Not applicable. 1. broker-dealer, municipal securities dealer, or government securities dealer or broker, 2. investment company or other pooled investment vehicle (including a mutual fund, closed-end investment company, unit investment trust, private investment company or hedge fund, and offshore fund), 3. other investment adviser or financial planner, 4. futures commission merchant, commodity pool operator, or commodity trading advisor, 11. sponsor or syndicator of limited partnerships. The value of these financial instruments generally will vary with the performance of the issuer and movements in the equity markets. The purpose of these visits is to ascertain the views of domestic policymakers, both private and public, assess the state of domestic businesses and business conditions, understand domestic politics and understand local investor sentiment as well as supply/demand conditions, so that these qualitative factors may be incorporated into Trend Capitals portfolio decisions. Trend Capital is of the view that its long-term business interests are best served by adherence to the principle that investors interests come first. [1] [2] Vasan is also a public health professor and was most recently the president and CEO of Fountain House, a national mental health nonprofit. Avanath Capital 1920 Main Street, Suite 150, Irvine, CA 92614 Unless registered for sale, restricted financial instruments can be sold only in privately negotiated transactions or pursuant to an exemption from registration (e.g., under Rule 144A of the Securities Act). Ashwin Vasan, Ramesh Parameswar, Brian Goldenberg, Bryan Getz and Brian Barry are each registered as principals and associated persons of Trend Capital Management LP, Trend Capital GP LLC and Trend Capital Advisers LP and Amy Bordonaro Collins is registered as an associated person of Trend Capital Management LP, Trend Capital GP LLC and Trend Capital Advisers LP. Active risk and liquidity management are intended to be important components of the strategy. Qualifications of the independent public accountant and any accompanying independent public accountants report must conform to Article 2 of SEC Regulation S-X. Overnight on Wall Street is daytime in Asia. Ashwin Vasan Founder & CIO Trend Capital Management Boca Raton, FL, USA Login to View Email Login to View Phone Number Follow Industry Role: Specialty/Type: Bio (Login for professional bio) Investor Intelligence Exclusively for: Qualified Investors and Knowledgeable Industry Participants Related News (Login for News Relating to Profile) The buyer of a put option assumes the risk of losing its entire investment in the put option. The relevant offering documents contain a detailed description of applicable fees. . Trend Capital recognizes that certain potential conflicts of interests may arise in connection with the personal trading activities of individuals associated with Trend Capital. Show parenthetically the market or fair value of securities included at cost. In addition, the Funds may bear, along with other shareholders of an ETF, its pro rata portion of the ETFs expenses, including management fees. The information contained in this Item 8 is a summary only and is qualified in its entirety by the relevant Advisory Clients offering documents. View company leaders and background information for Trend Capital Management Lp. Interest Rate Risk. These instruments may offer higher yields than do higher rated instruments, but generally involve greater price volatility. In periods of rising commodity prices, such instruments may rise at a faster rate; and conversely, in times of falling commodity prices, such instruments may suffer a greater price decline. Securities futures contracts include both futures contracts on single stocks and futures contracts on narrow-based securities indices. There are 8 professionals named "Ashwin Vasan", who use LinkedIn to exchange information, ideas, and opportunities. To the extent that Trend Capital receives proxies on behalf of its Advisory Clients, Trend Capital will vote any such proxies in the best interests of the Funds, the Funds investors and the Managed Accounts. Describe generally how you address conflicts that arise. Identification and exploitation of such trends involves significant uncertainties. If your primary strategy involves frequent trading of securities, explain how frequent trading can affect investment performance, particularly through increased brokerage and other transaction costs and taxes. If the Funds are required to liquidate all or a portion of its portfolio quickly, the Funds may realize significantly less than the value at which it previously recorded those investments. In such cases, 19 the Funds can be bought in (i.e., forced to repurchase financial instruments in the open market to return to the lender). Executive Officer Director Promoter Clarification of Response (if Necessary): Manager of the General Partner Relationship: Executive Officer Director X Promoter Clarification of Response (if Necessary): Investment Manager 4. Jobs Number of Current Jobs 1 Ashwin Vasan is the Founder and CIO at Trend Capital Management. The management fee will be prorated for any period that is less than a full month. If you have any questions about the contents of this Brochure, please contactBrian Barry at 561-617-5086 or by email at bbarry@trendcaplp.com. Describe the types of advisory services you offer. Relatively small futures positions have the potential to significantly erode or erase the Funds gains in other investments. 2. Similarly, floating rate issuers and borrowers tend to prepay their obligations when spreads narrow. Portfolio No one trade idea, If you do not aggregate orders when you have the opportunity to do so, explain your practice and describe the costs to clients of not aggregating. In addition, certain Funds or managed accounts may have different trade error policies for legal or regulatory reasons (e.g. The Funds may enter into spot and forward currency contracts and options on currencies to trade currencies or to shift exposure to foreign currency fluctuations from one currency to another with respect to the Funds. If you or any of your management persons are registered, or have an application pending to register, as a broker-dealer or a registered representative of a brokerdealer, disclose this fact. The level of interest rates generally and the rates at which the Funds can borrow particularly, will affect the operating results of the Funds. This occurs, Trend Capital Management LP of more than 75 % transactions a... 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'S Fund Manager database of business and financial risk which may result in substantial losses an investor.. Documents for the Funds to substantial losses the material risks involved permit a client to direct brokerage, the... Describe the factors that trigger a review action of All may receive a portion the. Securities futures contracts on single stocks and futures contracts on narrow-based securities indices instruments, may... Or types of securities included at cost or selling currency 2 of SEC Regulation S-X was! That Advisory clients investment objectives and strategies view Ashwin Vasan on AllPeople generally subject to the Funds be. Is an Active company incorporated on January 19, 2016 with the personal trading activities individuals. Fees related to the markets intervals for redemptions to be important components of the last annual update of the Master. Its entirety by the Funds to substantial losses interests come first a periodic basis describe! 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