Financial Advisors Might Have Sold Misrepresented, Unsuitable Investments In Vida Longevity Fund, LP
The investment loss lawyers at Soreide Law Group are reviewing possible investor claims against financial advisors who potentially recommended unsuitable or misrepresented investments in Vida Longevity Fund LP which has allegedly declined in value. Namely, this investment has experienced quite a bit of turbulence and this may have caused investors to experience serious losses. Here’s a bit more about who Vida Longevity Fund LP is and what you could do if you invested in the risky and possibly misrepresented investment.
Who Is Vida Capital?
Evidently, Vida is a Delaware limited partnership that invests mainly in senior life settlements and longevity-contingent assets. Apparently, this open-end hedge fund provides investors quarterly cash payments; however, it also focuses on capital preservation and targets 8-12 percent in annual investment returns without any significant correlation to other macroeconomic factors and asset classes.
Apparently, Vida Capital offers three classes of shares. Class A shares pay quarterly while Class B shares pay semi-annually. Class A shares have a two year lockup whereas the B Share has three years and the C Share has two years. Apparently, investors have been expected to purchase at least $510,000 in Class A shares, while Class B and Class C shares require a $225,000 minimum investment.
Notably, investments such as Vida Longevity Fund carry significant fees. Mainly, Class A Shares carry a 5% incentive fee and 2% management fee. Class B Shares have a 10% incentive fee and 1.5% management fee. Class C Shares have up to a 15% incentive fee and a 1.75% management fee.
Possible Misrepresentations At Play Regarding Vida
Publicly available information indicates that there might be misrepresentations with respect to Vida’s valuation. Apparently, the investment has experienced turbulence, with several down months in 2020. Between 2018 and 2019, the Fund experienced declines that were sub-par as compared to returns investors enjoyed around the Fund’s inception. It seems that there are negative asset valuations which suggest that the investment is not as valuable as investors think.
Securities Brokers, Financial Advisors Possibly Made Unsuitable Vida Recommendations
Critically, securities brokers and financial advisors could have recommended for clients to purchase Vida Longevity Fund without disclosing risks. Some advisors might not have considered clients’ investing goals, risk tolerances, financial needs and other aspects of their investor profiles. Also, it is possible that securities brokers and financial advisors pushed speculative, risky investments like Vida Longevity Fund because of the prospect of high returns. Unfortunately, these investments can be very volatile and have the potential to bring large losses for investors. It appears that investors could have purchased Vida Longevity Fund due to misrepresentations according to publicly available information.
Losses By Investing In Vida Longevity Fund?
Experienced losses by investing in Vida Longevity Fund? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of securities brokers and financial advisors.