Investment risks
Major risks
Market risks
- Directional; not market neutral
- Primarily invest in equity
- Will experience equity-like volatility at times
- At times, markets experience great volatility and unpredictability
Broad investment flexibility
- No benchmark orientation; few investment restrictions
- Geographic, sector, market-cap, and asset class emphases may shift over time
Liquidity risk
- Portfolio of illiquid/private companies
- The return of invested capital to limited partners may be dependent on the success of the companies held in the portfolio, and the timing of such liquidity is uncertain
Sector risk
- May concentrate by sector; potential for lack of diversification
Country/currency risk
- May concentrate by country
Transparency risk
- Holdings, pricing, and other data may be limited and, thus, less transparent than certain other investments
Regulatory risk
- Not subject to the same regulatory requirements as mutual funds or many other pooled investments
Important disclosures
For professional, institutional or qualified investors only. Past results are not necessarily indicative of future results. There can be no assurance the funds will achieve their investment objectives or avoid significant losses. Any securities mentioned are for illustrative purposes only and are not intended to be an investment recommendation. There can be no guarantee an investment in any portfolio company will be profitable or avoid losses. For a complete list of the private equity funds’ investments please see https://www.wellington.com/en-us/institutional/capabilities/private-equity.
The funds differ in stage with some making earlier-stage or venture-stage investments whereas others are later-stage funds. The risks associated with early-stage investing differ from late-stage. Additionally, each fund considers ESG and sustainability in different ways according to its investment strategy and objectives. Please refer to each fund’s private offering memorandum for a complete discussion of risks and details regarding investment strategy. This material is prepared for, and authorized for internal use by, designated institutional and professional investors and their consultants or for such other use as may be authorized by Wellington Management Company LLP or its affiliates. This material and/or its contents are current at the time of writing and may not be reproduced or distributed in whole or in part, for any purpose, without the express written consent of Wellington Management. Any views expressed herein are those of the author(s), are based on available information, and are subject to change without notice. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. This material is for informational purposes only and is not intended to constitute investment advice or an offer to sell, or the solicitation of an offer to purchase any interest in any Wellington Alternative Investments LLP or Wellington Funds US LLC fund (together, the ‘‘Wellington Funds’’). Investors should always obtain and read an up-to-date Private Offering Memorandum, which qualifies the information set forth herein and contains a description of the risks of investing, before deciding whether to invest in a Wellington Fund. Any such offer of the Wellington Funds is exempt from registration with the SEC and will be made only by means of the Private Offering Memorandum. The Wellington Funds may not be appropriate for certain investors depending on their investment objective and risk tolerance. Wellington Funds are speculative, involve a high degree of risk, can be highly volatile and an investor can lose all or a substantial amount of their investment. Further, the Fund’s substantial fees and expenses may offset its trading profits. There is no secondary market for an investor’s interest in a Wellington Fund and none is expected to develop. Securities may be offered through Wellington Funds Distributors Inc., an SEC-Registered Broker/Dealer, Member FINRA and SIPC. Office of Supervisory Jurisdiction: 280 Congress Street, Boston, MA 02210. Tel. 617-951-5000. Fax. 617-951-5250. Wellington Funds Distributors Inc. is an affiliate of Wellington Management Company LLP. For more information, contact Wellington Funds Distributors Inc.
Not FDIC Insured ------ No Bank Guarantee ------ May Lose Value
Wellington Management Company LLP (WMC) is an independently owned investment adviser registered with the US Securities and Exchange Commission (SEC). WMC is also registered with the US Commodity Futures Trading Commission (CFTC) as a commodity trading advisor (CTA) and serves as a CTA to certain clients including commodity pools operated by registered commodity pool operators. WMC provides commodity trading advice to all other clients in reliance on exemptions from CTA registration. WMC, along with its affiliates (collectively, Wellington Management), provides investment management and investment advisory services to institutions around the world. Wellington Management Group LLP (WMG), a Massachusetts limited liability partnership, serves as the ultimate parent holding company of the Wellington Management global organization. All of the partners are full-time professional members of Wellington Management. Located in Boston, Massachusetts, Wellington Management also has offices in Chicago, Illinois; Radnor, Pennsylvania; San Francisco, California; Frankfurt; Hong Kong; London; Luxembourg; Madrid; Milan; Shanghai; Singapore; Sydney; Tokyo; Toronto; and Zurich.
In Canada, this material is provided by Wellington Management Canada ULC, a British Columbia unlimited liability company registered in the provinces of Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, and Saskatchewan in the categories of Portfolio Manager and Exempt Market Dealer. ◼ In the United Kingdom, this material is provided by Wellington Management International Limited (WMIL), a firm authorized and regulated by the Financial Conduct Authority (Reference number: 208573). This material is directed only at eligible counterparties or professional clients as defined under the rules of the FCA. ◼ In Europe (excluding the UK and Switzerland), this material is provided by Wellington Management Europe GmbH (WME), which is authorized and regulated by the German Federal Financial Supervisory Authority (BaFin). This material is directed only in countries where WME is duly authorized to operate and shares of Wellington Funds may not be distributed or marketed in any way to German retail or semi-professional investors if the fund is not admitted for distribution to these investor categories by BaFin. ◼ In Hong Kong, this material is provided to you by Wellington Management Hong Kong Limited (WM Hong Kong), a corporation licensed by the Securities and Futures Commission to conduct Type 1 (dealing in securities), Type 2 (dealing in futures contracts), Type 4 (advising on securities), and Type 9 (asset management) regulated activities, on the basis that you are a Professional Investor as defined in the Securities and Futures Ordinance. By accepting this material you acknowledge and agree that this material is provided for your use only and that you will not distribute or otherwise make this material available to any person. Wellington Private Fund Management (Shanghai) Limited is a wholly owned entity and subsidiary of WM Hong Kong. Wellington Global Private Fund Management (Shanghai) Limited is a wholly owned entity and subsidiary of Wellington Private Fund Management (Shanghai) Limited. ◼ In Singapore, this material is provided for your use only by Wellington Management Singapore Pte Ltd (WM Singapore) (Registration Number 201415544E). WM Singapore is regulated by the Monetary Authority of Singapore under a Capital Markets Services Licence to conduct fund management activities and is an exempt financial adviser. By accepting this material you represent that you are a non-retail investor and that you will not copy, distribute or otherwise make this material available to any person. ◼ In Australia, Wellington Management Australia Pty Ltd (WM Australia) (ABN 19 167 091 090) has authorized the issue of this material for use solely by wholesale clients (as defined in the Corporations Act 2001). By accepting this material, you acknowledge and agree that this material is provided for your use only and that you will not distribute or otherwise make this material available to any person. ◼ In Japan, Wellington Management Japan Pte Ltd (WM Japan) (Registration Number 199504987R) has been registered as a Financial Instruments Firm with registered number: Director General of Kanto Local Finance Bureau (Kin-Sho) Number 428. WM Japan is a member of the Japan Investment Advisers Association (JIAA), the Investment Trusts Association, Japan (ITA) and the Type II Financial Instruments Firms Association (T2FIFA). WMIL, WM Hong Kong, WM Japan, and WM Singapore are also registered as investment advisers with the SEC; however, they will comply with the substantive provisions of the US Investment Advisers Act only with respect to their US clients.
PAST RESULTS DO NOT PREDICT FUTURE RETURNS.
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