ashwin vasan trend capital

If you or any of your supervised persons manage both accounts that are charged a performance-based fee and accounts that are charged another type of fee, such as an hourly or flat fee or an asset-based fee, disclose this fact. These instruments may offer higher yields than do higher rated instruments, but generally involve greater price volatility. 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. Disclose the date as of which you calculated the amounts. As of March 30, 2020, Trend Capital is submitting its annual amendment to the Brochure. To the extent any Managed Account applies a more stringent standard, Trend Capital will comply with the applicable restrictions. Explain whether (and, if so, how) you tailor your advisory services to the individual needs of clients. Prior to Shumway, Mr. Vasan was a Partner and Portfolio Manager at Tudor Investment Corporation from 1999 to 2009. Special risks may apply to instruments that are invested in by the Funds in the future that cannot be determined at this time or until such instruments are developed or invested in by the Funds. Trend Capital need not solicit competitive bids and does not have an obligation to seek the lowest available commission cost or spread. Managed Account payment terms are specifically negotiated, with payment generally in arrears. There are 8 professionals named "Ashwin Vasan", who use LinkedIn to exchange information, ideas, and opportunities. Ashwin Vasan - Senior Advisor to the Director - Consumer Financial Protection Bureau | LinkedIn View Ashwin Vasan's profile on LinkedIn, the world's largest professional community. Such intervention often is intended directly to influence prices and may, together with other factors, cause all of such markets to move rapidly in the same direction because of, among other things, interest rate fluctuations. Dun & Bradstreet Data last . It should be noted that the fact that a Funds general partner (or other Trend Capital affiliate)receives performance-based compensation creates a potential conflict of interest in that it may create an incentive for Trend Capital to effectuate larger and riskier transactions than would be the case in the absence of such form of compensation. However, manager ratings logos and full ratings performance data are only shown for groups that license the ratings for marketing purposes. View limitations & usage restriction, Breaking news, analysis and cutting edge commentary from our award-winning team and leading industry voices, The latest news and other relevant content from selected Citywire partners, Alternative UCITS - Emerging Market Equity Including Asia. There can be no assurance that future court decisions construing provisions in, or provisions similar to those in, any swap agreement or other related documents or new and additional regulations and laws governing swaps and other derivatives will not have a material adverse effect on the investments. Explain that investing in securities involves risk of loss that clients should be prepared to bear.Trend Macro Fund, ERISA Master and Enhanced Return. 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. ashwin has 1 job listed on their profile. Identify the related person and if the relationship or arrangement creates a material conflict of interest with clients, describe the nature of the conflict and how you address it. rend Macro Funds assets in a way that it will be flat or positive carry in aggregate, including the cost of its hedging program. If you may cause clients to pay commissions (or markups or markdowns) higher than those charged by other broker-dealers in return for soft dollar benefits (known as paying-up), disclose this fact. As noted above, an incentive fee is also received from the Managed Accounts and is payable annually, in arrears, subject to a loss carryforward provision. Futures prices are highly volatile. 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. Fluctuations or prolonged changes in the volatility of such instruments, therefore, can adversely affect the value of investments held by the Funds. The portfolio turnover rate of those investments may be significant and could involve substantial brokerage commissions and other transaction costs. Trend Capital has broad latitude with respect to the management of the Funds risk parameters. Relatively small futures positions have the potential to significantly erode or erase the Funds gains in other investments. Please refer to the offering documents of the Funds for a detailed description of the material risks related in an investment in the Funds. Trend Capital places trades for execution for the Advisory Clients with broker-dealers on the basis of seeking best execution and in consideration of relevant factors, including, but not limited to, commission rates, reliability, financial responsibility, strength of the broker and the ability of the broker to efficiently execute transactions, the brokers facilities and the brokers provision or payment of the costs of brokerage and research services that are of benefit to the Advisory Clients or Trend Capital. Governments from time to time intervene, directly and by regulation, in certain markets, particularly those dealing in precious metals. Although these financial 28 instruments may be resold in privately negotiated transactions, because there is less liquidity for these financial instruments, the prices realized from these sales could be less than those originally paid by the Funds. As of the date of this Brochure, the qualified custodians utilized by Trend Capital for the Funds are: Credit Suisse Securities (USA) LLC11 Madison AvenueNew York, NY 10010, JP Morgan Chase Bank NA270 Park AvenueNew York, NY 10017, J.P. Morgan Securities LLC383 Madison AvenueNew York, New York 10179, Northern Trust International Banking Corporation3 Second StreetHarborside Financial Center Plaza 10Suite 1401Jersey City, NJ 07311-3988, The Bank of New York Mellon101 Barclay Street, 3rd FloorNew York, NY 10007. Overnight on Wall Street is daytime in Asia. If you have any . Restricted financial instruments (i.e., financial instruments that are purchased in connection with privately negotiated transactions that are not registered under relevant securities laws) cannot be sold to the public without registration under the Securities Act. Trend Capital Management, LLC (TCM) is a Registered Investment Advisor in the states of Kansas and Missouri. Purchasing financial instruments to cover the exercise of an uncovered call option can cause the price of the financial instruments to increase, thereby exacerbating the loss. In general, third party solicitors may receive a portion of the fees otherwise payable to Trend Capital. The Firm currently provides discretionary investment advisory services including, but not limited to, managing and directing the investment and reinvestment of assets for private investment vehicles within the master-feeder structures, defined below. The terms for the Trend Macro Feeder Funds, the ERISA Offshore and the Opportunities Funds are disclosed in detail in the relevant Funds offering documents and supplement(s) (where applicable) provided to prospective investors prior to their investment. ETFs are also subject to certain additional risks, including, without limitation, the risk that their prices may not correlate perfectly with changes in the prices of the underlying securities they are designed to track and the risk of trading in an ETF halting due to market conditions or other reasons, based on the policies of the exchange upon which the ETF trades. It typically will not concentrate the portfolio in individual positions or groups of correlated positions to the extent that losses from such areas of concentration would be so extreme that the portfolio could not possibly generate returns from other positions mitigating or exceeding such losses. We'll assume you're ok with this, but you can opt-out if you wish. There is currently limited case law or litigation characterizing swaps and certain other derivatives, interpreting their provisions or characterizing their tax treatment. IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE PETER EARLY, Plaintiff, v. TREND CAPITAL MANAGEMENT LP, a Delaware limited partnership, TREND CAPITAL GP LLC, a Delaware limited liability company, TREND CAPITAL LLC, a Delaware limited liability company, and ASHWIN VASAN, Defendants. Loudoun County has similar renown and is called "The Center of the Internet" and "Data Center Alley.". Trend Capital can provide further details or a copy of the Firms Allocation Policy upon request. Founder and cio at Trend Capital Management LP Delray Beach . Before joining Tudor, he was a Portfolio Manager at Oppenheimer Funds with oversight of the international fixed income business. 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. Where a product or service obtained with commission dollars provides both research and non-research assistance to the Advisory Clients, Trend Capital will make a reasonable allocation of the cost that may be paid for with commission dollars. If you accept discretionary authority to manage securities accounts on behalf of clients, disclose this fact and describe any limitations clients may (or customarily do) place on this authority. In addition, significant disparities may exist between bid and asked prices for derivatives that are not traded on an exchange. Like other leveraged investments, any purchase or sale of a futures contract may result in losses that exceed the amount invested. If you participate in wrap fee programs by providing portfolio management services, (1) describe the differences, if any, between how you manage wrap fee accounts and how you manage other accounts, and (2) explain that you receive a portion of the wrap fee for your services. Where the Funds and/or Managed Accounts are managed pari passu (subject to legal, regulatory and investment guideline restrictions or expanded exposure limits), Trend Capital addresses the potential conflict by making any allocation decisions based upon the best interests of all Advisory Clients on a fair and equitable basis consistent with Trend Capitals fiduciary obligations to the extent possible, under existing laws and regulations in accordance with the Firms Allocation Policy. These actions could adversely affect the Funds operations and profitability. 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. In general, premium securities (securities whose market values exceed their principal or par amounts) are adversely affected by faster than anticipated prepayments and discount securities (securities whose principal or par amounts exceed their market values) are adversely affected by slower than anticipated prepayments. 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. Explain that by directing brokerage you may be unable to achieve most favorable execution of client transactions and that this practice may cost clients more money. Similarly, floating rate issuers and borrowers tend to prepay their obligations when spreads narrow. In fact, the Funds portfolio, at times, may be highly concentrated. no role in management of the business). This Foreign Limited Liability company is located at 1800 N. MILITARY TRAIL, SUITE 475, BOCA RATON, FL, 33431, US and has been running for seven years. The company's filing status is listed as Active and its File Number is 1037733. 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. Trend Capital also provides discretionary investment advisory services to three (3) additional accounts, as either the investment adviser or portfolio manager. Trading instructions may have to be modified and the Funds positions may need to be liquidated to avoid exceeding these limits. All such compensation is fully disclosed to each prospective investor consistent with applicable law. After the end of March 2020, Managed Account relationshipswill include an Irish UCITS and an Irish Alternative Investment Fund (AIF). Swap Transactions. Since they are new products, securities futures contracts have relatively low liquidity and no trading history. As described in Item 12.A.1 above, brokers may provide other services that are beneficial to Trend Capital, but not necessarily beneficial to the Advisory Clients, including capital introduction. There can be no assurance that the investment program will be successful in a given set of market conditions, or that it is the most successful system available. Interests/Shares are sold only to qualified investors who are accredited investors under Rule 501 of Regulation D of the Securities Act of 1933, as amended, and qualified purchasers as such term is defined in Section 2(a)(51)of the Investment Company Act of 1940, as amended. Please see terms and conditions for restrictions on use of Citywire's Fund Manager database. An affiliate entity of Trend Capital serves as the general partner to the Funds. Therefore, increased participation by speculators in the futures market also may cause price distortions. Trend Capital takes a balanced approach to investing the Trend Macro Funds or Enhanced Returns assets. In order to manage this conflict of interest, Trend Capitals Code of Ethics requires related persons of Trend Capital to obtain prior written approval from the Compliance Department before engaging in securities transactions in their personal accounts. 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. Similarly, even if more than ten years have passed since the date of the event, you must disclose the event if it is so serious that it remains material to a clients or prospective clients evaluation. Conversely, when interest rates rise, the value of fixed-income instruments generally can be expected to decline. As further described in Item 8.A below, the Trend Macro Fund, ERISA Master, Enhanced Return and associated Managed Accounts, subject to applicable legal, regulatory or investment restrictions, invest to capitalize on fundamental trends in currencies, interest rates and credit and equity indices in both developed and emerging markets. 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. Markets never sleep, and neither does Bloomberg. An affiliate entity of Trend Capital also serves as a general partner to the Master Funds and each feeder fund that is structured as a limited partnership and the Class M Shareholder with respect to the Opportunities Master. The incentive allocation ranges from 15% to 20% of net profits per annum, depending on the Fund andthe Class of Interests/Shares or SP in which an investor subscribes. For purposes of this Brochure, each such account is referred to as a Managed Account and together with the Funds, the Advisory Clients. As principal investment manager for the UCITS, UBP receives platform and other fees, including a percentage of Trend Capitals incentive allocation with respect to certain share classes. Trend Capital has established an Advisory Board for Trend Macro Fund (the Advisory Board), the members of which serve as members of the Board of Directors of the Trend Macro Offshore. 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. Thus, the leverage offered by trading in derivatives will magnify the gains and losses experienced by the Funds and could cause the Funds net asset value to be subject to wider fluctuations than would be the case if the Funds did not use the leverage feature of derivatives. While brokers generally provide capital introduction services at no additional cost and certain other services at favorable or below market rates, Trend Capital and not the Advisory Clients, may be the principal or sole beneficiary of those services, thus presenting a potential conflict of interest between the Advisory Clients and Trend Capital, which is responsible for selecting the brokers and negotiating their brokerage, margin and other fees. Conversely, a decrease in the value of the U.S. dollar will have the opposite effect of magnifying the effect of increases and reducing the effect of decreases in the prices of the Funds non-U.S. dollar financial instruments. Ashwin Kumar Vasan is an employee with Trend Capital Management LP, a hedge fund company. Four of the companies are still active while the remaining two are now listed as inactive. The Opportunities Master Fund SPs invest in and trade securities and other financial instruments using investment techniques with risk characteristics, including risks of the debt and equity markets, the risks of borrowings and short sales, the potential illiquidity of securities and other financial instruments and the risk of loss from counterparty defaults. The participants in such markets are typically not subject to the credit 16 evaluation and regulatory oversight to which members of exchange-based markets are subject. Describe the factors that you consider in selecting or recommending brokerdealers for client transactions and determining the reasonableness of their compensation (e.g., commissions). 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. This interest is passive (i.e. Thus, the Funds face the risk that their counterparties may not perform their obligations. Such 3 investment objectives, fee arrangements and terms are individually negotiated and it should be noted that any such Managed Account relationships are generally subject to significant account minimums. Price movements of futures and options contracts and payments pursuant to swap agreements are influenced by, among other things, interest rates, changing supply and demand relationships, trade, fiscal, monetary and exchange control programs and policies of governments and national and international political and economic events and policies. Repurchase and Reverse Repurchase Agreements. Refer to Item 12 for further information. 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. Fixed-Income Financial Instruments. There is also less regulation, generally, of the markets in non-U.S. countries than there is in the United States. Non-U.S. The market for many derivatives is, or suddenly can become, illiquid. While zero coupon bonds do not require the periodic payment of interest, deferred interest bonds generally provide for a period of delay before the regular payment of interest begins. Trend Capital Management LP - Boca Raton - Ashwin Vasan in General Discussions Trend Capital Management LP is a discretionary global macro hedge fund manager. In addition, many nonU.S. Trend Capital, while using reasonable efforts to liquidate all positions using such considerations and within such aforementioned time frame, is under no obligation to liquidate any positions within a predetermined time or at a particular price. The Funds expect to use and may use a high degree of, leverage as part of the Funds investment program. This Brochure provides information about the qualifications and business practices of TrendCapital Management LP and Trend Capital Advisers LP (collectively, Trend Capital orthe Firm). The Funds may purchase low rated or unrated debt instruments. Forward Trading. For each significant investment strategy or method of analysis you use, explain the material risks involved. Please contact Trend Capital for further information. Choose the right Crunchbase solution for you Start Your Free Trial When used for hedging purposes, an imperfect or variable degree of correlation between price movements of the derivative and the underlying investment sought to be hedged may prevent the Funds from achieving the intended hedging effect or expose the Funds to risk of loss. If forward prices go up, the Funds will suffer a loss to the extent the price of the currency they have agreed to buy exceeds the price of the currency they have agreed to sell. Explain the procedures you used during your last fiscal year to direct client transactions to a particular broker-dealer in return for client referrals. Moreover, the portfolio will always be exposed to certain risks that may not be hedged. 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. View company leaders and background information for Trend Capital Management Lp. Derivative Financial Instruments and Instruments Generally. The minimum and additional subscription amounts are reduced for each investor introduced to one of the Trend Macro Funds by Merrill Lynch. Derivatives typically allow an investor to hedge or speculate upon the price movements of a particular security, financial benchmark or index at a fraction of the cost of acquiring, borrowing or selling short the underlying asset. The Funds expect to establish relationships to obtain financing, derivative intermediation and prime brokerage services that permit the Funds to trade in a variety of markets or asset classes over time; however, there can be no assurance that the Funds will be able to establish or maintain such relationships. Because of the absence of any trading market for unlisted securities, it may take longer to liquidate, or it may not be possible to liquidate, positions in unlisted securities than would be the case for publicly traded securities. The limitation of potential (and actual) loss in any period of time is pivotal to the investment framework of the Trend Macro Fund or Enhanced Return. Trend Capital acts as the investment manager of the Funds. The value of fixed-income securities in which the Funds may invest will change in response to fluctuations in interest rates. . Online data isn't stored in a "cloud," of course. Margin requirements for transactions that are not bona fide hedging are significantly higher than for bona fide hedging transactions. Possible Effects of Speculative Position Limits. If your clients either may or must pay your fees in advance, disclose this fact. Ashwin has 1 job listed on their profile. Trend Capital recognizes that certain potential conflicts of interests may arise in connection with the personal trading activities of individuals associated with Trend Capital. The buyer of a call option assumes the risk of losing its entire premium investment in the call option. Ashwin Vasan Full Name: Ashwin Kumar Vasan Company: Trend Capital Management LP Founder and cio at Trend Capital Management LP Delray Beach . 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. Portfolio No one trade idea, If you or any of your management persons are registered, or have an application pending to register, as a futures commission merchant, commodity pool operator, a commodity trading advisor, or an associated person of the foregoing entities, disclose this fact. In addition, neither Trend Capital nor the Funds will be required to offer such additional and/or different rights and/or terms to any or all of the other investors in the Funds, except as specified in the Trend Macro Fund MFN Policy Statement. Describe the types of clients to whom you generally provide investment advice, such as individuals, trusts, investment companies, or pension plans. Investors should carefully review the audited financial statements of the Funds upon receipt. Trend Capital also compensates Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) for its clients introduced to the Trend Macro Funds. This is intended to outline for Trend Capital the key variables that might influence itstrading strategy. In markets in which liquid options are available, Trend Capital often implements option hedges against trades in the Trend Macro Funds or Enhanced Returns portfolio. Lenders providing financing to the Funds can apply essentially discretionary margin, haircut, and financing and collateral valuation policies. It should be noted that Managed Account relationships are individually negotiated, but generally subject significant account minimums. If you have, or will accept, authority to vote client securities, briefly describe your voting policies and procedures, including those adopted pursuant to SEC rule 206(4)-6. 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. The Firm has adopted aTrend Capital, its employees, affiliates or their related persons are invested in the Funds, either directly or through the Trend Capitals and/or general partners (or equivalent) investments in the Funds. In addition, daily limits on price fluctuations and speculative position limits on exchanges on which the Funds may conduct their transactions in derivatives may prevent profitable 25 liquidation of positions, subjecting the Funds to the potential of greater losses. For example, in a directed brokerage account, the client may pay higher brokerage commissions because you may not be able to aggregate orders to reduce transaction costs, or the client may receive less favorable prices. 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. The value of these financial instruments generally will vary with the performance of the issuer and movements in the equity markets. He received his BA in Economics from the University of Nebraska, his MA in Economics from San Diego State University and completed three years of PhD work at New York University. Describe the types of products and services you or any of your related persons acquired with client brokerage commissions (or markups or markdowns) within your last fiscal year. Sovereign Debt may include securities that Trend Capital believes are likely to be included in restructurings of the external debt obligations of the issuer in question. Trend Capital applies rigorous fundamental macroeconomic analysis and a disciplined portfolio construction framework to generate absolute returns with low correlation to the markets. Fundamental based analysis relies on the study of external factors to predict the price movement of a given investment. In the manner described above, credit default swaps can be used to hedge a portion of the default risk on a single corporate bond or a portfolio of bonds. 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