Disclosures

Disclosures

 

The data provided on this website is for information purposes only.  None of the information contained herein constitutes an offer to sell or an invitation to purchase any security in any jurisdiction in which such offer or invitation would be unlawful.  The examples, charts, and presentations on this website are meant solely to illustrate strategies employed by the Graham & Dodd Fund® LLC and/or the Graham & Dodd Farmland FundSM LLC.

Results should under no circumstances be taken as an expectation of similar profits or returns in the future.  Past performance is not necessarily an indication of future returns.

Specific securities identified and described do not represent all of the securities purchased, sold, or recommended for advisory clients, and the reader should not assume that investments in the securities identified and discussed were or will be profitable.

Graham & Dodd Fund® LLC is neither endorsed by nor affiliated in any way with Professors Benjamin Graham and/or David Dodd or their respective estates. The name is used to describe The Graham & Dodd Fund’s; investing philosophy, similar to those concepts articulated by Benjamin Graham and David Dodd.

The name “Graham & Dodd Fund”  is a registered mark with the USPTO  United States Patent & Trade Mark Office and  the property of one of the principals of the Fund.

The Graham & Dodd Equity Composite was initially run as a long/short fund, long only returns in the first four years are a carve out of the long/short fund. Returns shown since inception to March 31, 2009 are those of a pooled investment vehicle managed by Graham & Dodd Fund® LLC.  The pooled investment vehicle had substantially the same strategy and investment philosophy as the current separately managed account composite and was managed by the same individuals.  However, the pooled investment vehicle had a performance-based structure which may have created different risk incentives that the current asset-based fee structure.  The use of leverage and shorting strategies has been carved out of the performance figures for the pooled investment vehicle.

The Graham & Dodd Equity Composite contains fully discretionary, long-only accounts.  For comparison purposes, the composite is measured against the Russell 1000 Value Index.

Inclusion of index information is not intended to suggest that its performance is equivalent or similar to that of the historical investments whose returns are presented or that investment with our firm is an absolute alternative to investments in the index (if such investment were possible).  Investors should be aware that the referenced benchmark funds may have a different composition, volatility, risk, investment philosophy, holding times, and/or other investment-related factors that may affect the benchmark funds’ ultimate performance results.  Therefore, an investor’s individual results may vary significantly from the benchmark’s performance.

The Graham & Dodd Fund® LLC is an independent investment firm which has only one equity composite.  The firm’s client portfolios are exclusively long-only managed equity accounts. The Graham & Dodd Fund® LLC claims compliance with the Global Performance Standards (GIPS). To obtain a fully compliant Annual Disclosure Presentation or a full list of composites please contact us at 212-649-5884 or info@grahamdoddfund.com.

Results for the Graham & Dodd Fund Equity Composite are based on fully discretionary managed accounts.  The composite includes accounts no longer under management.  Past performance is not indicative of future results.

The U.S. dollar is the currency used to express performance.  Returns are presented both a gross and net basis; gross basis excludes management fees and include the reinvestment of all income, where net basis includes the subtraction of management fees and includes the reinvestment of all income.  Gross returns are not supplemental and have been reduced by transactions costs, as is the case with net returns.  Investment management fees are negotiated and will vary.

The composite performance prior to 2009 is derived from a larger set of assets.  Performance reflects the required total segment  plus cash returns using a predetermined cash allocation of 2% earning a quarterly return equal to the mid-range yield on the three month Treasury bill (constant maturity basis).  Additional information regarding the policies for calculating and reporting returns is available on request.

The Graham & Dodd Farmland FundSM, LLC (the “Fund”) is an unregistered private investment fund managed by Graham & Dodd Farmland FundSM LLC (“Graham & Dodd”), which is wholly-owned by Graham & Dodd Fund®, LLC (“Parent”) that allows investors to invest in a diversified portfolio of row crop, wheat, alfalfa, vegetable and other types of permanent and non-permanent crop farmland in the United States and is NOT subject to the same regulatory requirements as a mutual fund.  Parties interested in investment in the Fund should carefully note the following:

The Fund represents a speculative investment and involves a high degree of risk.  An investor could lose all or a substantial portion of their investment.

Investors must have the financial ability, sophistication, experience and willingness to bear the risks of an investment in the Fund.

An investment in the Fund should be discretionary capital set aside strictly for speculative purposes.

An investment in the Fund is not suitable or desirable for all investors.  Only qualified eligible investors may invest in the Fund.

The Fund offering documents are not reviewed or approved by federal or state regulators.

The Fund may be leveraged (including leverage of up to 40% of the value of the agricultural properties in the Fund) and the Fund’s performance may be volatile.

An investment in the Fund may be illiquid and there may be significant restrictions on transferring interests in the Fund.

There is no secondary market for an investor’s investment in the Fund and none is expected to develop.

The Fund may involve a complex tax structure, which should be reviewed carefully.

The Fund may involve structures or strategies that may cause delays in important tax information being sent to investors.

The Fund’s fees and expenses, which may be substantial regardless of any positive return, will offset the Fund’s profits.

The Fund has been recently formed and has no operating history.

The Fund, Graham & Dodd Farmland FundSM LLC and Graham & Dodd Fund® LLC may be subject to various conflicts of interest.

This summary is not a complete list of the risks and disclosures for investing in the Fund and is subject to the more complete and specific disclosures contained in the Fund’s offering documents.  Before making any investment, a prospective investor should thoroughly review the offering documents with their financial, legal and tax advisor to determine whether an investment in the Fund is suitable in light of the objectives, financial circumstances and tax situation, and conduct such due diligence as such investor deems appropriate.

No representation is made that the Fund will or is likely to achieve its objectives or that any investor will or is likely to achieve results comparable to those shown or will make any profit at all or will be able to avoid incurring substantial losses.  Past performance is not necessarily indicative, and is no guarantee, of future results.

Busey Ag, Services, a division of Busey Bank, is a third party provider of farm management services to agricultural properties invested in by the Fund. Busey Ag Services is not affiliated with the Fund, Graham & Dodd Farmland FundSM LLC or Graham & Dodd Fund® LLC and is not offering interests in the Fund. Pursuant to a master services agreement between Busey Ag Services and Graham & Dodd Farmland FundSM LLC, Busey Ag Services will provide certain farm management services to the Fund and assist the Fund in locating farm properties. Busey Ag Services has not contributed to or participated in the organization, development or description of the Fund or its terms, other than its description of the services it provides to the Fund. Busey Ag Services and its affiliates will not be responsible for any such investment decisions.

The information on this website is intended for information purposes only.  Nothing on this website is intended to be, nor should it be construed or used as financial, legal, tax or investment advice, be an opinion of the appropriateness or suitability of an investment, or intended to be an offer, or the solicitation of any offer, to buy or sell any security or an endorsement or inducement to invest in the Fund.  No such offer or solicitation may be made prior to the delivery of appropriate offering documents to qualified investors.

Certain of the information, including investment returns, valuations, fund targets and strategies while believed to be reliable has not been independently verified and its completeness and accuracy cannot be guaranteed.  No warranty, express or implied, representation or guarantee is made as to the accuracy, validity, timeliness, completeness or suitability of this information.  Any indexes and other financial benchmarks shown are provided for illustrative purposes only, are unmanaged, reflect reinvestment of income and dividends and do not reflect the impact of advisory fees.  [The S&P 500 Total Return index is a capitalization weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of these 500 stocks representing all major industries.]

Performance figures of Parent assume reinvestment of capital gains and other income.  Index data is sourced through independent services (Russell Investments, S&P Dow Jones Indices, www.djaverages.com, etc.).  Comparisons to indices have limitations because indexes have volatility and other material characteristics that may differ from the portfolios managed by Parent.  For example, the portfolios managed by Parent may hold substantially fewer securities than are contained in an index.  Indexes also may contain securities that are not comparable to those traded by the portfolios managed by Parent.  The Fund’s performance may differ substantially from the performance of an index and from the historical performance of the portfolios managed by Parent, therefore indexes and historical performance should not be relied upon as an accurate measure of comparison.

The materials on this website and any presentation of which they form a part of are neither an offer to sell or a solicitation of an offer to purchase interests in the Fund.  Such an offer or solicitation can only be made by way of the Fund’s offering documents and otherwise in accordance with applicable securities laws.  These materials are confidential and are intended solely for the information of the recipient to whom they have been delivered.  Recipients may not reproduce these materials or deliver them to third parties.  These materials are not intended for distribution to or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to applicable law or regulation.