Denali Structured Return Strategy Fund (DNLIX)

Primary focus on income-generating investments, with the income used to create potential capital appreciation

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Fund Symbol

DNLIX

Fund Name

Denali Structured Return Strategy Fund

Fund Overview

  • Seeks equity upside participation with capital appreciation
  • Uses income from direct and indirect investments to fund upside participation on S&P 500 Index
  • Resets quarterly, seeking to harvest equity upside
  • Interval fund structure provides daily access with quarterly redemptions

FUND INFORMATION

Fund Denali Structured Return Strategy Fund
Symbol/Ticker DNLIX
Structure Closed End Interval Fund (1940 Act-registered)
Minimum Investment $1,000.001
NAV Frequency Daily
Subscriptions Daily
Liquidity Quarterly, no less than 5% of fund shares outstanding2
Tax Reporting 1099-DIV
Expense Limitation Cap 1.99%3

 

1The Fund’s shares require a minimum initial investment of $1,000 and $100 for subsequent investments.
2Distributions are not guaranteed. Although the Fund will offer to repurchase at least 5% of outstanding shares on a quarterly basis in accordance with the Fund’s repurchase policy, the Fund will not be required to repurchase shares at a shareholder’s option nor will shares be exchangeable for units, interests or shares of any security. As a RIC, the Fund must distribute an amount equal to at least 90% of its taxable investment income, annually. There is no assurance a change in market conditions or other factors will not result in a change in future distributions.
3Total annual expenses are 2.45%. The adviser has contractually agreed to waive fees for at least one year from March 7, 2024.The

Adviser attempts to structure the return profile of the Fund to produce income and the potential for partial participation in positive equity market returns without the potential for significant equity market losses by investing a small portion of the Fund's assets in call option spreads on the S&P 500® Index.

 

Risk Factors
An investment in the Fund’s shares is subject to risks. The value of the Fund’s investments will increase or decrease based on changes in the prices of the investments it holds. This will cause the value of the Fund’s shares to increase or decrease. You could lose money by investing in the Fund. By itself, the Fund does not constitute a complete investment program. Before investing in the Fund, you should consider carefully the following risks the Fund faces, together with the other information contained in this prospectus.

Since the Fund is non-diversified, it is subject to higher reduction of capital and volatility than a fund more proportionately allocated among a large number of securities. An investment in the Fund involves risk. The Fund is new with no significant operating history by which to evaluate its potential performance. There can be no assurance that the Fund’s strategy will be successful. The Fund may use leverage its investments by “borrowing.” The use of leverage increases both risk of loss and profit potential.

- Shares of the Fund are not listed on any securities exchange, which makes them inherently illiquid.
There is no secondary market for the Fund’s shares, and it is not anticipated that a secondary market will develop.
- Shares of the Fund are not redeemable. Thus, an investment in the Fund may not be suitable for investors who may need the money they invest in a specified time frame.
- Although the Fund will offer to repurchase at least 5% of outstanding shares on a quarterly basis in accordance with the Fund’s repurchase policy, the Fund will not be required to repurchase shares at a shareholder’s option nor will shares be exchangeable for units, interests or shares of any security.
- The Fund is not required to extend, and shareholders should not expect the Fund’s Board of Trustees to authorize, repurchase offers in excess of 5% of outstanding shares.
- Regardless of how the Fund performs, an investor may not be able to sell or otherwise liquidate his, her or its shares whenever such investor would prefer and, except to the extent permitted under the quarterly repurchase offer, will be unable to reduce the shareholder’s exposure on any market downturn.

The Fund may invest a portion of its assets in securities that have speculative characteristics, e.g., lower-rated or unrated debt commonly peferred to as “high yield bonds” or “junk bonds.” The Fund will invest in call option spreads that may expire worthless and fail to provide participation in positive equity market returns.

Fund Performance

As of 05/31/2024

  1 Month QTD YTD
Denali Structured Return Strategy Fund 2.10% 1.69% 2.20%
S&P 500 TR 4.96% 0.67% 2.28%

Returns are net total returns.

Performance of less than one year is cumulative. You cannot invest directly in an index. 

Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance, please call 1-800-632-4027.

The prospectus contains this and other important information about the investment company. For a prospectus or summary prospectus with this and other important information about the Fund, please visit the Documents section of this website or call 1-800-632-4027. Read the prospectus carefully before investing.

Shareholder Services: 1-800-632-4027
Investment Professionals: 770-350-8700 or info@LSfunds.com
Distributed by Foreside Fund Services, LLC, which is not affiliated with the Adviser.

Asset Allocation

As of 05/31/2024

Fund Documents



Fact Sheet

 

Document Links
Prospectus Download
SAI Download
Annual Report Download
2024 Redemption Calendar Download
New Account Application Download
Entity Account Application Download
IRA Packet Download
IRA Transfer Download
Section 16 Filings Links
SEC Form 3 Download

How to Invest

The Niagara Income Opportunities Fund is traded on major stock exchanges, much like shares of common stock.

The Niagara Income Opportunities Fund does not require a subscription agreement or have investor qualification standards. RIAs and institutional investors can purchase fund shares daily through Fidelity, using the ticker symbol NAGRX.

 

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