McMillan prefers to manage client money through separately managed accounts. We have found this to be beneficial to investors for a number of reasons when compared to a hedge fund structure:

Better liquidity terms

• Accounts are individually managed, not commingled with other investors
• Assets are held at a brokerage firm in your name. McMillan only has trading authority
• No lock-up periods
• No redemption fees

Increased transparency

• You receive full disclosure of trading activity in your account
• Daily position updates
• Monthly brokerage statements
• Quarterly management reports from McMillan