DISCLAIMER

General Disclaimer and Regulatory Compliance Information

Bishop & Associates, Inc. (Bishop) is an SEC-registered investment advisor located in Philadelphia, Pennsylvania. In addition to registering with the SEC, Bishop notice files with the states in which it operates according to the applicable regulations.  When the number of our clients in a state meets that state’s registration requirements, Bishop will notice file in that state. Bishop provides individualized responses to persons in a particular state only after complying with the state’s regulatory requirements, or pursuant to an applicable state exemption or exclusion.  The presence of this website on the Internet shall in no direct or indirect way suggest that the firm offers investment advisory services to residents of any state other than the states in which the firm maintains a notice filing.  In addition, this website should not be construed as a solicitation of investment advisory clients in any state other than the states in which we maintain a notice filing.

In conjunction with each client engagement for investment management, a copy of our Form ADV, Part II, which may be contained within our brochure materials, must be delivered to the Client.

This website provides general information about Bishop & Associates, Inc. and is not intended to offer investment or financial planning advice.  The purpose of this site is to provide you with information about the firm and our investment philosophy and strategies, and to provide a means for you to contact us for further information. Bishop provides customized investment recommendations only within the context of our contractual agreements with our clients, and only after a comprehensive review of the client’s situation

Information throughout this site, whether stock quotes, charts, articles, or any other statement or statements regarding market or other financial information, is obtained from sources which we, and our suppliers believe to be reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. Nothing on this web-site should be interpreted to state or imply that past results are an indication of future performance. Neither we nor our information providers shall be liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness of, or for any delay or interruption in the transmission thereof to the user. THERE ARE NO WARRANTIES, EXPRESSED OR IMPLIED, AS TO ACCURACY, COMPLETENESS, OR RESULTS OBTAINED FROM ANY INFORMATION POSTED ON THIS OR ANY ‘LINKED’ WEB-SITE.”

Alternative Investment Disclaimer and Regulatory Compliance Information

The information contained on this website is for informational purposes only and is not an offer to sell or the solicitation of an offer to buy an interest in any of the Funds managed or advised or offered by Bishop & Associates, Inc. (Bishop). This document contains only summary information about the Funds (“Funds” herein defined as any and all alternative investments mentioned and or offered/considered) and is qualified in its entirety by, and should be read in conjunction with, the more detailed information contained in the Offering Memorandum for each Fund.

The interests in the Funds have not been registered with the SEC under the Securities Act, or under the securities laws of any state in the United Sates or under the securities laws of any other jurisdiction, and the Funds have not been registered as an investment company under the Investment Company Act of 1940, as amended, and are being offered and sold in reliance on exemptions from the registration requirements of such laws.

The information contained in this Document has been prepared to assist interested parties in making their own evaluation of the opportunity and does not purport to be complete or to contain all of the information that a prospective investor might consider important in connection with an investment in the Fund. In all cases, interested parties should conduct their own investigation and analysis of the Fund, the data set forth on this website and such other data as they may consider relevant to an investment decision.  Not all hedge funds/Candidates/investments may be available at all times due to capacity or for other reasons.  The information contained in this Document does not constitute legal, tax, accounting, regulatory or investment advice, and persons considering an investment in the Fund should consult their own legal and financial advisors with respect to the application of United States securities, tax or other laws and accounting and regulatory provisions to their particular, as well as any consequences arising under the laws of any other jurisdiction.

The liquidity schedule constitutes the “best available” liquidity as of the date hereof.  The liquidity terms described are for a particular exposure.  From time to time, the Fund and/or the Outside Portfolio Manager may offer different liquidity terms.  “Best available” liquidity assumes availability when soft lock terms are applicable.

The pro forma results are based on simulated or hypothetical performance results that have certain inherent limitations.  Unlike the results shown in an actual performance record, these results do not represent actual trading.  Also, because the trades have not actually been executed, these results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity.  Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight.  No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.

PRO FORMA COMPOSITE PERFORMANCE RECORD IS HYPOTHETICAL AND THESE TRADING ADVISORS HAVE NOT TRADED TOGETHER IN THE MANNER SHOWN IN THE COMPOSITE. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW.  NO REPRESENTATION IS BEING MADE THAT ANY MULTI-ADIVSOR MANAGED ACCOUNT OR POOL WILL OR IS LIKELY TO ACHIEVE A COMPOSITE PERFORMANCE RECORD SIMILAR TO THAT SHOWN.  IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN A HYPOTHETICAL COMPOSITE PERFORMANCE RECORD AND THE ACTUAL RECORD SUBSEQUENTLY ACHIEVED.

ONE OF THE LIMITATIONS OF A HYPOTHETICAL COMPOSITE PERFROMANCE RECORD IS THAT DECISIONS RELATING TO THE SELECTION OF TRADING ADVISORS AND THE ALLOCATION OF ASSETS AMONG THOSE TRADING ADVISORS WERE MADE WITH THE BENEFIT OF HINDSIGHT BASED UPON THE HISTORICAL RATES OF RETURN OF THE SELECTED TRADING ADVISORS.  THEREFORE, COMPOSITE PERFORMANCE RECORDS INVARIABLY SHOW POSITIVE RATES OF RETURN.  ANOTHER INHERENT LIMITATION ON THESE RESULTS IS THAT THE ALLOCATION DECISIONS REFLECTED IN THE PERFORMANCE RECORD WERE NOT MADE UNDER ACTUAL MARKET CONDITIONS AND, THEREFORE, CANNOT COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING.  FURTHERMORE, THE COMPOSITE PERFORMANCE RECORD MAY BE DISTORTED BECAUSE THE ALLOCATION OF ASSETS CHANGES FROM TIME TO TIME AND THESE ADJUSTMENTS ARE NOT REFLECTED IN THE COMPOSITE.

The fund and/or Fund Manager use several sources of information to support the analyses found on this website, including information provided by the investment managers, third party databases, and other public and non-public sources.  The Fund and/or the Fund Manager will make commercially reasonable efforts to ensure the reliability of the information, but make no warranty as to the accuracy, completeness or suitability of the information.  Such information is further subject to the qualifications and limitations contained in the Terms of Use Agreement and Disclaimer made part of each fund rethumbnailport.

The interests in the Funds are speculative, can be illiquid, involve substantial risk, and are a suitable investment only for a limited portion of an investor’s portfolio.  Investors could lose all or substantially all of their investment in the Funds.  Neither the delivery of this information nor any offers of sales hereunder shall create an implication that there has been no change since the date of this disclaimer or any Offering Memorandum in the matters disclosed herein.  Before you decide to invest, read the entire Offering Memorandum for the specific fund of interest carefully, and in particular, consider the “Risk Factor” section.  If you, or your advisors, have questions concerning the operations, you should contact the Fund Manager at the address or phone number included in the Offering Memorandum.

None of the directors, officers, employees or advisers of Bishop or its affiliates or any other person makes any promise, guarantee, representation or warranty (expressed or implied) to any person as to the fairness, accuracy or completeness of this website or the information contained herein, or of any other information, materials or opinions, whether written or oral, that have been, or may be, prepared or furnished by any of those companies, including, without limitation, economic or financial projections, if any, or risk evaluations.

The recipient or reader acknowledges and agrees that all of the information contained herein is confidential, and if the recipient/reader has previously accepted entrance to this website, signed or agreed to Bishop’s Terms of Use Agreement or Non-Disclosure Agreement, is subject thereto.  With limiting the generality of the foregoing: 1) the recipient/reader will not reproduce the information contained on this website, in whole or in part; 2) if the recipient/reader does not wish to pursue this matter or is not an “Accredited Investor” within the meaning of Rule 501(a) under the Securities Act of 1933 and/or a “Qualified Purchaser” as such term is defined in the Investment Company Act of 1940, as amended and the “Securities Act,” it must relinquish access to this website as soon as practicable, and in each and all cases, must destroy as soon as practicable all copies of analyses, compilations, studies or other documents prepared by it in connections with any information on this website or such other materials.