Overview
A. General Description of Advisory Firm. The Adviser is an investment adviser with its principal
place of business in Harrison, New York. The Adviser commenced operations as an investment
adviser on January 1, 2009 and was registered with the SEC from December 1, 2009 to March
2021. In March 2021, the Adviser became an exempt reporting adviser. The Adviser is now
registered with the SEC as a mid-sized advisory firm that is not subject to examination by the state
securities authority of the state where the Adviser maintains its principal office and place of
business.
JJM Capital LLP is the principal owner of the Adviser. Joseph H. Marren and his wife, Joan Marren,
are the principal owners of JJM Capital LLP.
B. Description of Advisory Services (including any specializations). The Adviser provides
investment advisory services on a discretionary basis to clients that are pooled investment
vehicles intended for sophisticated investors and certain institutional investors. Each pooled
investment vehicle invests in a select group of underlying investment vehicles or separate
accounts managed by portfolio managers that make investments in securities and other assets
primarily using
arbitrage and relative value strategies and focused in the municipal securities
market.
The Adviser also provides non-discretionary investment advisory services to individuals and
business entities with non-discretionary accounts. Each non-discretionary account invests in
publicly-traded closed-end funds.
C. Availability of Tailored Services for Individual Clients. Under certain circumstances, the Adviser
may design and implement customized multi-manager investment programs tailored to the
specific objectives and constraints of high net worth individuals and institutional investors. In
addition, the Advisor has, and may again in the future, tailor non-discretionary investment advice
to the individual needs of non-discretionary account investors.
Clients may, under certain circumstances, impose restrictions on investing in certain securities or
certain types of securities.
D. Wrap Fee Program. The Adviser does not participate in wrap fee programs.
E. Client Assets Under Management. As of March 1, 2024, the Adviser had approximately
$30,680,068 in regulatory assets under management, all of which were managed on a
discretionary basis.