The portfolio seeks to achieve long-term capital appreciation by investing in markets and securities. 

This table describes the fees and expenses that you may pay by joining this portfolio. 

You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below. You may qualify for discounts if you and your family invest or agree to invest after your initial one-year commitment. 

The portfolio normally invests at least 75% of the fund’s total assets in stocks, with an emphasis on stocks that have a strong track record of paying dividends or that are expected to increase their dividends over time. Noire believes that a track record of dividend payment can be an excellent indicator of financial health and growth, and that over the long term, income can contribute significantly to total return. Dividends can also help reduce the fund’s volatility during periods of market turbulence and help offset losses when stock prices are falling.

The GP research analysts look for stocks with sustainable, above-average growth in earnings and dividends. When appropriate, the treasurer may attempt to buy stocks when they are temporarily out of favor or undervalued by the market. At times, the fund may have a significant portion of its assets invested in the same economic sector. In selecting investments, the adviser generally favors companies that we believe possess one or more of the following: 

• either a track record of, or the potential for, above-average earnings and dividend growth; 
• a competitive current dividend yield; 
• a sound balance sheet and solid cash flow to support future dividend increases; 
• a sustainable competitive advantage and leading market position; and 
• attractive valuations, such as low price/earnings, price/cash flow, or price/sales ratios. 

While most assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with its objective(s).

Principal Risks 

It is possible to lose money on an investment in the Portfolio. The principal risks of investing in the Portfolio, which could adversely affect its net asset value, yield, and total return, are listed below. 

Portfolio Turnover: The portfolio may pay transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when the fund’s shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the portfolio’s performance.

High Yield Risk: the risk that high yield securities and securities of similar credit quality are subject to greater levels of credit, call and liquidity risks. High yield securities are considered primarily speculative with respect to the issuer’s continuing ability to make principal and interest payments and may be more volatile than higher-rated securities of similar maturity. 

Market Risk: the risk that the value of securities owned by the Portfolio may go up or down, sometimes rapidly or unpredictably, due to factors affecting securities markets generally or specific industries.

Portfolio Officers and Management

Noire Investment Group LLC Managing Members and Elected Officers serve as the collective portfolio stewards. Decisions about securities to be purchased or sold is decided by the active membership of the portfolio known as the General Partner (GP). 

Investment Unit Purchases

The minimum investment for ‘N’ Portfolio members is $2400. This can be spread out over the course of 1 year in monthly increments of $200. Or submitted as a single credit to the members capital investment account for $2400.

Purchase and Sale of Portfolio Shares

Portfolio Investment Units may be purchased by non-members of Noire Investment Group as Limited Partners (LP). This portfolio is not publicly available and cannot be sold in public markets. Please see the Portfolio Partner Agreement for Investment unit purchases, exiting, or selling opportunities.

Tax Information 

Noire LLC will manage all taxable capital gains by portfolio. All transactions that cause taxable events will be distributed across member partners and affect market value of investments in the portfolio. Noire LLC portfolio distributions are generally taxable to you as ordinary income, capital gains, or a combination of the two. Upon member distribution of market value an IRS K-1 form will be provided to the partner for their records.

Past performance is no guarantee of future results. Dividends are not guaranteed.