Thank you for submitting your onboarding questionnaire for Phoenix Systematic Vega


Step 1: Private Placement Memorandum

Click here to download and review Phoenix Systematic Vega Private Placement Memorandum

Step 2: Limited Partnership Agreement

Click here to download and review Phoenix Systematic Vega Limited Partnership Agreement

Siprana highly recommends that you review both the PPM and LPA prior to signing your subscription document.


Step 3: Accredited Investor Verification

Pursuant to the terms of Phoenix Systematic Vega’s Private Placement Memorandum, Regulation D, Rule 506(c) compliance requires that all investors in Siprana offerings be accredited. The SEC requires that Siprana independently verify accredited investor status.

There are three acceptable verification methods:

  1. Verification based on written confirmation from certain third parties (highly recommended)

    • Letter from registered broker-dealer

    • Letter from registered investment advisor

    • Letter from licensed attorney

    • Letter from certified pubic accountant


  2. Verification based on net worth (assets - liabilities)

    • Assets

      • Bank statements

      • Brokerage statements

      • Other statements of securities holdings

      • Certificates of deposit

      • Tax assessments and appraisal reports issues by independent third parties

    • Liabilities

      • Consumer credit report

  3. Verification based on annual income

    • Form W-2

    • Form 1099

    • Schedule K-1 of Form 1065

    • Form 1040

We highly recommend written confirmation from a third party. For those who wish to verify via net worth or income, we have partnered with EarlyIQ, Inc., the industry leading third-party accredited investor verification service. The detailed information you provide to EarlyIQ will not be accessible by anyone outside of EarlyIQ’s U.S. based analysts. Siprana will not have access to the detailed information you provide. EarlyIQ’s accredited investor verification process will issue a decision to Siprana that verifies your accredited status based on either net worth or income.

  • Email third party letter to onboarding@siprana.com and reference your name in the subject line

  • Click here to review the EarlyIQ process if you wish to verify via net worth or income

  • Click here to begin the EarlyIQ application


Step 4: Preparing for your Subscription Document

Your Subscription Document is being prepared using the information you provided in your onboarding questionnaire. The Subscription Document is executed using DocuSign. The document will be sent to the email address you provided within 48 business hours.

Gather the following information and documents in preparation for your digital signing:

Individual/Joint Investors

  • Full legal name (middle name is optional)

  • Primary mailing address

  • Social security number

  • Preferred contact phone number

  • Preferred contact email address

  • Bank account wiring instructions

    • Required to send funds back to you

  • Name, social security and date of birth of any beneficiaries

    • If you requested a Transfer on Death form


Entity Investors

  • Full legal entity name (including LLC, LTD, LP)

  • Primary business mailing address

  • IRS taxpayer identification number

  • Preferred contact phone number

  • Preferred contact email address

  • State of incorporation

  • Date of incorporation

  • Net entity assets $ (as of last year)

  • Bank account wiring instructions

    • Required to send funds back to you


Step 5: Anti-Money Laundering Documents

Click here to review a full list of acceptable documents

Email documents to onboarding@siprana.com and reference your account name in the subject line

Individual/Joint Investors

  • Government issued form of picture id

    • Passport

    • Drivers license

  • Proof of current address

    • Utility bill (web screenshot is acceptable)

Entity Investors

  • Government issued form of picture id (authorized person)

    • Passport

    • Drivers license

  • Proof of current address of authorized person

    • Utility bill (web screenshot is acceptable)

  • Certificate of formation or organization

  • List of beneficial owners (greater than 25%)


Step 6: Review Important Phoenix Systematic Vega Information

Liquidity:

  • Monthly contribution liquidity. You may contribute every 30 days at month end for the following month. Please allow 15-day notice from month end to contribute additional funds.

  • Quarterly redemption liquidity. Please allow 45-day notice from quarter end to redeem funds. Redemptions can occur on January 1; April 1; July 1; and October 1.

Fees:

  • 2% management fee (annual), assessed and paid quarterly for the following quarter.

  • 20% performance fee, assessed and paid quarterly for the previous quarter. High Water Mark.

  • All return data is calculated “net of all fees”.

Tax:

  • As a Limited Partner, you share in the expenses, gains, and losses of the fund. In the first quarter of each year, the Fund’s Accountant will generate a K-1 tax form for the previous tax year.

Reporting:

  • Your individual capital account statement will be generated at the beginning of each quarter for the previous quarter by the Fund’s administrator, Yulish & Associates. The default method of communicating statements is email. Siprana will send you a monthly newsletter with the previous months’ net returns to the email you provided.

Additional Contributions and Redemption Requests:


Step 7: Download the Siprana team directory


Welcome to the siprana family of funds!