How Liquidity Optionality Changes the Planning Conversation with Clients

This is the practical liquidity question. The better questions are: When are redemptions available? How much can be redeemed in a given window? What is the regulatory backstop ensuring the mechanism functions as described?

The Semi-Annual Window in Practice

The Champion Fund will make semi-annual repurchase offers, in February and August, for 5% of its outstanding Shares at NAV.† For a typical allocation within a client's alternatives sleeve, this provides scheduled liquidity on a predictable calendar. An advisor who needs to reduce a position can plan around that schedule — with the caveat that offers may be oversubscribed and tenders prorated.

This is not the liquidity of a money market fund. It is liquidity appropriate for a long-duration appreciation asset — available at structured intervals, in meaningful amounts, with regulatory oversight ensuring the structure functions as designed.

The Client Conversation This Enables

When an advisor can describe a sports allocation with specificity — “twice a year the fund offers to repurchase 5% of its shares; if more shares are tendered than the offer covers, everyone is scaled back proportionally, so we size the position expecting to exit over several windows rather than one” — the conversation is fundamentally different from “this is illiquid, we can't get out.” The first is a plannable constraint. The second is a reason not to invest.

The Champion Fund's structure transforms sports from the second conversation into the first.

† The Fund's first repurchase offer is scheduled for August 2027.

This content is for informational and educational purposes only and does not constitute investment advice or an offer to buy or sell any security. Past performance is not indicative of future results. All investments involve risk, including the potential loss of principal. Please read The Champion Fund's prospectus carefully before investing.