Burdette Asset Management, LLC (BAM) is the Fund manager for each of our Funds, and has full and exclusive discretionary authority and responsibility to manage the day-to-day operations of the Funds and to invest and reinvest assets.
BAM recently launched a $100 million Burdette Asset Management LS Fund II to build upon the platform and investment strategy developed in Burdette Asset Management LS Fund I.
BAM will also provide management to Separate Accounts of $25 million or more.
Alignment of Interests
BAM manages our Funds in a manner that is optimal to the interests of our Investors. Our Funds are structured to place investor returns in front of manager incentives, thus resulting in a substantial alignment of our interests with those of our Investors.
The Funds achieve real alignment of interests in the following ways:
1. Origination and Servicing: We use our proven experience to source policies through alternate origination channels to reduce acquisition costs and increase access to quality policies away from the high friction costs of traditional channels.
2. Best in Class Service Providers: All of the Fund’s professional service partners are among best in class in the Life Settlement Industry.
3. Asset Manager Participation on Realized Gains Only: We calculate an NAV for our Funds based on independent valuations provided in accordance with a stated policy valuation methodology approved by our auditors. However, BAM receives incentive compensation only after Investors have been paid, in cash, a cumulative Preferred Return AND Investors have received a one hundred percent (100%) return of Invested Capital. In other words, BAM receives NO incentive compensation until gains are realized and investors have full recovery of their investment in cash.
4. Transparency: Our principals are strong proponents of regulation, full disclosure and market transparency. Accordingly, we have engaged SS&C GlobeOp, one of the world’s premier fund administrators to provide full service administration and investor communication to all our Funds.
This information outlines certain characteristics of our Life Settlement investment programs. The information is presented solely for purposes of discussion. Under no circumstances is the information to be used or considered as an offer to sell, or a solicitation to buy, any investment vehicle or program. Any such offering may be made only by the final offering circular relating to the managed investment.