Overview
A. Description of the Advisory Firm
Mizzen Capital Management, LLC (hereinafter “MCML”) is a Limited Liability Company
organized in the State of Delaware. The firm was formed in May 2019, and the principal
owners are Elizabeth Harriet Karter and Marilyn Schwartz Adler.
B. Types of Advisory Services
Portfolio Management Services
MCML offers ongoing portfolio management services based on the individual goals,
objectives, time horizon, and risk tolerance of each client. MCML creates an Investment
Policy Statement for each client, which outlines the client’s current situation (income, tax
levels, and risk tolerance levels). Portfolio management services include, but are not
limited to, the following:
• Investment strategy • Personal investment policy
• Asset allocation • Asset selection
• Risk tolerance • Regular portfolio monitoring
MCML evaluates the current investments of each client with respect to their risk tolerance
levels and time horizon. Risk tolerance levels are documented in the Investment Policy
Statement, which is given to each client.
MCML seeks to provide that investment decisions are made in accordance with the
fiduciary duties owed to its accounts and without consideration of MCML’s economic,
investment or other financial interests. To meet its fiduciary obligations, MCML attempts
to avoid, among other things, investment or trading practices that systematically
advantage or disadvantage certain client portfolios, and, accordingly, MCML’s policy is
to seek fair and equitable allocation of investment opportunities/transactions among its
clients to avoid favoring one client over another over time. It is MCML’s policy to allocate
investment opportunities and transactions it identifies as being appropriate and prudent
that might have a limited supply, among its clients on a fair and equitable basis over time.
MCML (the “Investment Manager”) is the manager and provides advice a private
investment fund.
The fee schedule for such services is generally described in the Fund’s current disclosure
documents. MCML will provide all disclosure documents to clients of MCML.
Services Limited to Specific Types of Investments
MCML generally limits its investment advice to fixed income securities and equities,
although MCML
primarily recommends private debt. MCML may use other securities as
well to help diversify a portfolio when applicable.
Written Acknowledgement of Fiduciary Status
When we provide investment advice to you regarding your retirement plan account or
individual retirement account, we are fiduciaries within the meaning of Title I of the
Employee Retirement Income Security Act and/or the Internal Revenue Code, as
applicable, which are laws governing retirement accounts. The way we make money
creates some conflicts with your interests, so we operate under a special rule that
requires us to act in your best interest and not put our interest ahead of yours. Under
this special rule’s provisions, we must:
• Meet a professional standard of care when making investment recommendations
(give prudent advice);
• Never put our financial interests ahead of yours when making recommendations
(give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in
your best interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest.
C. Client Tailored Services and Client Imposed Restrictions
MCML offers the same suite of services to all of its clients. However, specific client
investment strategies and their implementation are dependent upon the client’s current
situation (income, tax levels, and risk tolerance levels). Clients may impose restrictions in
investing in certain securities or types of securities in accordance with their values or
beliefs. However, if the restrictions prevent MCML from properly servicing the client
account, or if the restrictions would require MCML to deviate from its standard suite of
services, MCML reserves the right to end the relationship.
D. Wrap Fee Programs
A wrap fee program is an investment program where the investor pays one stated fee that
includes management fees and transaction costs. MCML does not participate in wrap fee
programs.
E. Assets Under Management
MCML has the following assets under management:
Discretionary Amounts: Non-discretionary Amounts: Date Calculated:
$ 0.00 $ 0.00 December 2022