For Current Investors

To add or redeem funds, please complete our change form.

In order to accept additional funds or new investments, we need to receive the wires with funding five (5) business days before the month to make sure we are able to deploy the funds to our managers in a timely manner so we ask that you submit the change form no later than eight (8) business days before the end of the month.

Forms received later than eight (8) business days before the end of the month and wires received later than five (5) days before the end of the month will be held for allocation the subsequent month. (e.g. If the wire is received May 29, it will be invested July 1 rather than June 1 as it was not received 5 business days prior to June 1).

If you are redeeming funds, please note there are two parts to the process:

First, your investment will be reduced/end as of the last day of the month the request is made (assuming it is done before the 8 business day cut off date). For example, if you request a redemption on May 15th, your investment will be liquidated by the amount requested on the last day of May.

Second, the 3rd party administrator has to calculate the monthly performance and finalize the accounting for that month before we are able to send the full redemption payment. Because we need all of our managers to finalize their accounting before we can finalize ours, this is unlikely to be completed before month-end.

If an investor submits an online change request and subsequent signed change form document before the 8 business day cutoff date, we will aim to send out the full amount of the redemption within 30 days.  For example, any request made before the March cut off (circa March 22nd, with a withdrawal date of March 31st) your redemption wire would be sent by April 30th. Please note, the PPM does outline the possibility that up to 10% of your withdrawal amount may be withheld until the completion of the fund’s audit in the next calendar year to insure proper accounting in any special situation. This is not typical, however.

You may always access prior statements by searching your email for them.

The email will be titled “Long Volatility Fund, LLC | Investor Account Statement” or “Cockroach Fund, LLC | Investor Statement” and should arrive from investor.relations@navbackoffice.com.

We do provide access to an online portal through our fund administrator, NAV Consulting. You should receive an email from them within the first few days of the month to create your login details.

There are a couple of things to note regarding the portal:

• The portal won’t show any information until you receive your first investor statement.
• The fund only strikes a Net Asset Value (NAV) once per month (around the 15th) so the number in the portal will only change one day per month when your statement is sent via email.

This means that the portal will not give you any additional information to what you will receive via email, merely let you access it in your browser as opposed to in an email.

If you would like access to the portal as a reference then we are happy to facilitate that. Simply complete the form at the bottom of this page and select the “I want access to the portal with my monthly statements” option from the drop-down menu.

Monthly statements will arrive via email from our fund administrator each month.

Statements should arrive around the 20th-25 of the following month. The email will be titled “Long Volatility Fund, LLC | Investor Account Statement” or “Cockroach Fund, LLC | Investor Statement” and should arrive from investor.relations@navbackoffice.com. Please make sure to white list their email address.

Your statements will be sent to email address/email addresses submitted on the investor information form. If you would like duplicates sent to any additional addresses, please let us know.

You will also receive an estimate of fund performance on the first of each month for the prior month. Please note that this estimate is generally fairly accurate but large swings in the fund’s performance in the last week of the month can create some discrepancy and so it should be viewed as an estimate. We also send a letter with monthly commentary around the 25th of each month though the date varies depending on when we are able to finalize the fund’s accounting.

To make any changes to your account, please contact us for any account related requests suchs as:

• To change your address information
• To make changes to recipients on your monthly statements
• To request hard copies of your statements

Annually, investors will receive an audited report with the financial statements, detailing the activity and financials for the overall Fund in which they are invested.

Investors will also receive a K-1 reporting their share of the prior year’s profits and losses for the Fund in which they invest. Here is a basic explanation of how K-1s work in a fund structure if you are not familiar.

As far as timing, because the Funds are invested in other funds, we have to wait until we receive final financial statements and K-1s from every fund we are invested in prior to being able to produce our own, which usually does not happen until June.

Once we have received the audited financial statements and K-1s from the other funds, we will work with our accountants to prepare the Fund’s overall tax return and each investor’s individual K1s. These will be sent out to you as soon as we receive them.

As a matter of practice, the Funds will file an extension for their overall tax returns given the need to wait for the third party fund K-1s. We aim to provide estimated tax numbers prior to April 15th, which can be used to estimate tax payments for extension filings on April 15th.

We do not have a firm date for the completion of the final K1s as there are a variety of factors outside of our control (mostly related to receiving K1s from our underlying managers) but we conservatively estimate late summer (July/August).