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Legal & Disclosures

Certain Risks & Disclosures

This material is provided for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities of the Champion Fund (the "Fund"). Any such offering is made only by means of the Fund's prospectus, which should be read carefully before investing.

The Champion Fund is a continuously offered, non-traded closed-end investment company operating as an interval fund pursuant to Rule 23c-3 under the Investment Company Act of 1940. Shares are offered for purchase on a continuous basis at net asset value (NAV); however, they are not listed on any securities exchange and are subject to substantial restrictions on transferability.

Limited liquidity

The Fund does not offer daily liquidity. Instead, it conducts periodic repurchase offers, typically on a semi-annual basis and limited to 5% of the Fund's net assets, to provide limited liquidity to shareholders. There is no guarantee that shareholders will be able to sell all shares tendered in any given repurchase offer.

Risk of loss

An investment in the Fund involves a high degree of risk, including the possible loss of capital. The Fund may invest in illiquid and private securities and use leverage, which can increase volatility and risk of loss. Past performance is not indicative of future results.

Key risk considerations

  • No operating history. The Fund is newly organized and has no operating track record. Any target or illustrative figures are based on manager expectations and historical sports-market data, not the Fund's results.
  • Illiquidity & redemption limits. Shares are not exchange-listed. Repurchases are limited (up to 5% of shares per offer) and may be prorated if oversubscribed; there is no guarantee of full redemption.
  • Valuation uncertainty. Private-asset valuations rely on good-faith estimates; limited market data may affect NAV accuracy, particularly for early-stage ventures and minority team stakes.
  • Portfolio concentration. Despite five sub-asset classes, all investments are exposed to sports-industry cycles, media-contract negotiations, and regulatory changes affecting professional leagues.
  • Fees. The Fund charges a 2.90% management fee; fees and expenses reduce returns. See the prospectus for the complete fee schedule.

Third-party data

References to historical sports-franchise and S&P 500 performance are illustrative of an asset class, are sourced from third-party data believed to be reliable but not guaranteed, and are not the performance of the Fund. Statements regarding portfolio companies reflect information provided by those companies and are not independently verified.

Before you invest

Before investing, prospective investors should carefully consider the Fund's investment objectives, risks, charges, and expenses. This and other important information is contained in the Fund's prospectus, which can be obtained by emailing champion@sweaterfunds.com or visiting thechampionfund.com. Account onboarding and brokerage services are provided through Sweater.

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This page is a plain-language summary for design purposes and should be reviewed and finalized by counsel before publication.