by Yieldstreet | Staff
With the Yieldstreet Prism Fund, investors have access to numerous alternative asset classes, all within a single fund. This investment product, available exclusively through the Yieldstreet platform, allows investors (regardless of accreditation status or net worth), to gain exposure to a wide range of alternative asset classes—under the exclusive management of Yieldstreet. With a single investment, your portfolio gains exposure to various alternative asset classes. The Fund currently has investments in Art, Commercial, Legal, Private Business Credit, Real Estate, and corporate preferred bonds.
The Yieldstreet Prism Fund is a Closed-End Fund (CEF) that assists investors in creating a fixed-income portfolio—a portfolio of investments that pay interest, dividends or distributions, if performing, until their maturity.
The Fund’s primary objective is the generation of income for investors through investments in loans, bonds, and other debt instruments. The Fund aims to maximize the total return over the life of the Fund while simultaneously preserving capital within the Fund and managing the volatility of the assets over time. You can read more about the Fund’s investment strategy here.
The Yieldstreet Prism Fund expects to pay out quarterly distributions, at an annualized distribution rate of 8%.1 The Fund’s expected quarterly distributions and its distribution rate will be determined by the Fund’s board of directors in its sole discretion.
On a quarterly basis, the Fund may offer to repurchase a limited number of shares from investors subject to the Fund’s board of directors approval and certain limitations that are outlined in the Fund’s prospectus.2
As with most funds currently available in the broader market, there are fees and expenses associated with the the Yieldstreet Prism Fund:
Let’s break these fees down a bit. The Annual Management Fee is the compensation that Yieldstreet receives for providing investment advice to the Fund. In regards to the Annual Administrative Expense, the Fund’s administrator will provide facilities and administrative services necessary for the Fund to operate. The Fund has agreed to reimburse the administrator and its affiliates for the fees, costs, and expenses incurred by the administrator and its affiliates in providing such services.
The investing process for the Yieldstreet Prism Fund is slightly different from other offerings available on the Yieldstreet platform. Below are a few key steps to be aware of when investing in the Fund.
For additional information to reference for information on the Yieldstreet Prism Fund, please see the following resources:
As always, feel free to reach out to our team with additional questions at [email protected]. And to familiarize yourself with the details of the Yieldstreet Prism Fund, it is important that you review the prospectus, available for download on this page.
1 Reflects the initial quarterly distribution declared by the Fund’s board of directors on February 6, 2020, which was paid to shareholders of record as of June 10, 2020 and is based on the initial offering price of $10 per share. The Fund’s distribution may exceed its earnings. Therefore, a portion of the Fund’s distribution may be a return of the money you originally invested and represent a return of capital to you for tax purposes.
2 The Fund intends to offer to repurchase shares from investors at the discretion of the Fund’s board of directors and depending upon the performance of the Fund. The Fund will limit the number of shares to be repurchased in any calendar year to 20% of the weighted average number of shares outstanding in the prior calendar year, or 5% in each quarter. If the number of shares submitted for repurchase by investors exceeds the number of shares the Fund seeks to repurchase, the Fund will repurchase shares on a pro-rata basis, and not on a first-come, first-served basis.
3 The management fee is calculated at an annual rate of 1.00% of the average of the Fund’s net assets, excluding cash and cash equivalents, at the end of the two most recently completed calendar quarters.
4 The Fund’s administrator will provide facilities and administrative services necessary for the Fund to operate. The Fund has agreed to reimburse the administrator and its affiliates for the fees, costs, and expenses incurred by the administrator and its affiliates in providing such services, up to 0.125% (0.50% annualized) of the Fund’s net assets (excluding cash and cash equivalents), as determined as of the end of each calendar quarter. Please refer to the Fund’s prospectus for additional information regarding this reimbursement.
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1 Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All securities involve risk and may result in significant losses.
2 Represents an average net realized internal rate of return (IRR) with respect to all matured investments in your portfolio, utilizing the effective dates and amounts to and from the investments and net of management fees and all other expenses charged to the investments. Past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. All securities involve risk and may result in significant losses, including the loss of principal invested.[read more]
3 "Annual interest" or "Annualized Return" represents an annual target rate of interest or annualized target return and "term" represents the estimated term of the investment. Such target interest or target returns and estimated term are projections of the interest or returns and or term and may ultimately not be achieved. Actual interest or returns and term may be materially different from such projections. This targeted interest or returns and estimated term are based on the underlying investments held by the applicable.
4 Reflects the annualized distribution rate that is calculated by taking the most recent quarterly distribution approved by the Fund's Board of Directors and dividing it by prior quarter-end NAV and annualizing it. The Fund’s distribution may exceed its earnings. Therefore, a portion of the Fund’s distribution may be a return of the money you originally invested and represent a return of capital to you for tax purposes.
5 Represents the sum of the interest accrued in the statement period plus the interest paid in the statement period.
6 The internal rate of return ("IRR") represents an average net realized IRR with respect to all matured investments weighted by the investment size of each individual investment, made by private investment vehicles managed by YieldStreet Management, LLC from July 1, 2015 through and including Dec 22th, 2021, after deduction of management fees and all other expenses charged to investments.
7 Investors should carefully consider the investment objectives, risks, charges and expenses of the Yieldstreet Prism Fund before investing. The prospectus for the Yieldstreet Prism Fund contains this and other information about the Fund and can be obtained by emailing [email protected] or by referring to www.yieldstreetprismfund.com. The prospectus should be read carefully before investing in the Fund. Investments in the Fund are not bank deposits (and thus not insured by the FDIC or by any other federal governmental agency) and are not guaranteed by Yieldstreet or any other party.
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