INTRODUCTION
Jasper Ridge Partners is regulated by the U.S. Securities and Exchange Commission (SEC) as an investment adviser. Brokerage and investment advisory services and fees differ, and it is important for you to understand these differences. Free and simple tools are available to research firms and financial professionals at Investor.gov/CRS, which also provides educational materials about broker-dealers, investment advisers, and investing.
WHAT INVESTMENT SERVICES AND ADVICE CAN YOU PROVIDE ME?
We help high net worth families manage their overall wealth. In conjunction with investments in our pooled funds, we manage their liquid portfolios and administer their illiquid portfolios. Our overall goal is to maximize expected returns on a risk and liquidity adjusted basis. We also develop and implement estate and charitable giving plans. Account minimums apply and are subject to negotiations. Please consult with one of our financial professionals for further information.
We typically don’t have investment authority over liquid assets managed in this fashion or illiquid assets held outside of our pooled funds. You make the ultimate decision regarding the purchase and sale of investments in those instances. We monitor those investments continuously to provide effective periodic reporting and advice. In some instances, at your request, where you ask us to act as trustee for a child’s trust, we may obtain custody over assets held by third-party custodians. If we have custody, assets will be monitored more frequently.
For additional information, please see the Advisory Business, Types of Clients and Custody sections of our Disclosure Brochure.
Conversation starters. Ask your investment professional –
Given my financial situation, should I choose an investment advisory service? Why or why not?
How will you choose investments to recommend to me?
What is your relevant experience, including your licenses, education and other qualification? What do these qualifications mean?
WHAT FEES WILL I PAY?
Clients invested in our pooled funds or those contemplating a separate account relationship with us (those being the only times we offer the retail investment advisory services described in this disclosure form) will incur fees through our pooled funds and managed separate accounts. You won’t incur a separate management fee from us for assets we oversee outside of our pooled funds or separate accounts. However, you will be allocated internal costs to service those assets. Those costs include a proportionate share of the expenses borne by Jasper Ridge Services, LLC, a subsidiary of Jasper Ridge Partners, providing you with administrative record-keeping, accounting, tax, and legal services. In addition, you will bear third-party costs such as brokerage execution and custodial fees. You may also bear the costs for third-party service providers such as legal counsel for estate planning services or tax counsel for tax advice.
You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time.
Please make sure you understand what fees and costs you are paying. For detailed information please see the Fees and Compensation section of our Disclosure Brochure.
Conversation starters. Ask your investment professional –
Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?
WHAT ARE YOUR LEGAL OBLIGATIONS TO ME WHEN ACTING AS MY INVESTMENT ADVISER? HOW ELSE DOES YOUR FIRM MAKE MONEY AND WHAT CONFLICTS OF INTEREST DO YOU HAVE?
When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they can affect the investment advice we provide you. Here are some examples to help you understand what this means.
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We have an incentive to recommend:
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investments in our pooled funds since we are compensated for managing those funds.
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our affiliated services, like our charitable services, since they may extend the nature of our relationship.
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Some of our investors and clients are affiliated with private investment companies in which we invest our pooled funds' assets. We do so only after ascertaining that they are vetted by our Investment Committee and deemed appropriate investments for the funds.
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Our investment professionals may invest in our funds on materially different terms and conditions than clients.
Conversation starters. Ask your investment professional –
How might your conflicts of interest affect me, and how will you address them?
For additional information, please see the Code of Ethics, Participation or Interest in Client Transactions and Personal Trading section of our Disclosure Brochure.
HOW DO YOUR FINANCIAL PROFESSIONALS MAKE MONEY?
Our financial professionals receive a salary from the firm and receive a portion of the firm’s profits through a bonus and profit sharing. Financial professionals are not compensated based on client assets, nor do they receive commissions.
DO YOUR FINANCIAL PROFESSIONALS HAVE LEGAL OR DISCIPLINARY HISTORY?
No.
Conversation starters. Ask your investment professional –
Do you have any disciplinary history? For what type of conduct?
Please visit Investor.gov/CRS for a free and simple search tool to research Jasper Ridge Partners and our financial professionals.
ADDITIONAL INFORMATION
For additional information about our services, up-to-date information, or a copy of this disclosure please call 817-333-0027 or email compliance@jasperridge.com.
Conversation starters. Ask your investment professional –
Who is my primary contact person?
Is he or she a representative of an investment adviser or a broker dealer?
Who can I talk to if I have concerns about how this person is treating me?