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SOURCE Provident Trust Group; SharesPost Financial Corporation
SAN FRANCISCO and LAS VEGAS, June 18, 2014 /PRNewswire/ -- SharesPost Financial Corporation and Provident Trust Group are pleased to announce a strategic relationship that facilitates the investment of retirement funds in the venture capital asset class. The strategic relationship will provide greater access to Provident Trust Group's clients seeking to invest in private venture-backed companies and SharesPost Financial Corporation's clients with a self-directed IRA custodian capable of handling such investment opportunities.
SharesPost Financial Corporation is a leader in the secondary market for private company securities and a selling agent for the SharesPost 100 Fund, an affiliated, actively managed, closed-end interval fund that targets a diversified portfolio of late-stage private companies. Provident Trust Group is a full-service trust company and a premier alternative asset custodian that is leading the way in the self-directed IRA industry.
"Our strategic relationship with Provident will provide a premier IRA custodian option to our clients seeking to invest in this alternative asset class. The SharesPost 100 Fund provides access to the asset class for both accredited and unaccredited investors, many of whom have expressed interest in using retirement funds to invest in this professionally managed product," said Jeff Pinksa, Managing Director at SharesPost Financial Corporation.
"We are excited to enter into this strategic relationship with SharesPost Financial Corporation and to help provide greater access to this asset class to the self-directed investor," said Theresa Fette, Chief Executive Officer at Provident Trust Group. "There are trillions of dollars tied to Individual Retirement Accounts seeking access to a broad range of investment opportunities. We look forward to working closely with SharesPost Financial Corporation to make investing within this alternative asset class an efficient process for the self-directed investor looking to invest through an IRA."
SharesPost Financial Corporation
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Provident Trust Group, LLC
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The information provided herein is for educational and informational purposes only, and should not be construed as any investment, financial, legal, or tax advice. Additionally, the information contained herein does not constitute an offer by Provident Trust Group to invest or to provide management/advisory services or a recommendation to enter into any securities transactions or investment strategies, and is subject to correction, completion and amendment without notice.
READ THESE IMPORTANT LEGAL NOTICES AND DISCLOSURES FROM SHARESPOST FINANCIAL CORPORATION ABOUT THE SHARESPOST 100 FUND (the "FUND")
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus with this and other information about the Fund, please call 1-800-838-4780 or visit our website at http://www.sharespost100fund.com. Read the prospectus carefully before investing.
All investing involves risk including the possible loss of principal. Shares in the Fund are highly illiquid, and you will not be able to sell your shares when, or in the amount that, you desire. The Fund primarily invests in securities of private, late-stage, growth companies. There are significant potential risks relating to investing in such securities. Because most of the securities in which the Fund invests are not publicly traded, the Fund's investments will be valued by the Investment Adviser pursuant to fair valuation procedures and methodologies adopted by the Board of Trustees. While the Fund and the Investment Adviser will use good faith efforts to determine the fair value of the Fund's securities, value will be dependent on the judgment of the Investment Adviser. As a consequence, the value of the securities, and therefore the Fund's NAV, may vary. Due to transfer restrictions and the illiquid nature of the Fund's investments, we may not be able to sell our investments when we wish to do so. There are significant potential risks associated with investing in venture capital and private equity-backed companies with complex capital structures. The Fund may focus its investments in a limited number of securities, which could subject it to greater risk than that of a larger, more varied portfolio. There may be a greater focus in technology securities that could adversely affect the Fund's performance. If the Fund does not have at least 500 Members for an entire taxable year, you could receive an adverse tax treatment. The Fund's quarterly repurchase policy may require the Fund to liquidate portfolio holdings earlier than the Investment Adviser would otherwise do so, and may also result in an increase in the Fund's expense ratio. This is not a complete enumeration of the Fund's risks. Please read the Fund prospectus for other risk factors related to the Fund, its investment strategy and your investment in the Fund, and other additional details.
Foreside Fund Services, LLC, Distributor
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