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RISK DISCLAIMER

AI Futures Fund LLC

A Delaware Limited Liability Company

Boulder, Colorado, United States


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SEC RULE 206(4)-1 PERFORMANCE ADVERTISING DISCLOSURECFTC REGULATION 4.41 RISK DISCLOSUREAI & ALGORITHMIC TRADING RISKSLEVERAGE & DERIVATIVES RISKSLIQUIDITY & REDEMPTION RISKSTECHNOLOGY FAILURE RISKSFLASH CRASH & MARKET MANIPULATION RISKSREGULATORY & LEGAL RISKSCRITICAL DISCLAIMERSFORWARD-LOOKING STATEMENTS DISCLAIMERINVESTOR ACKNOWLEDGMENT

  • You may lose your entire investment.
  • Leverage and derivatives can amplify losses.
  • This document is not exhaustive—additional risks exist.

1. Past Performance: Past performance is NOT indicative of future results. The value of your investment may fluctuate. You may lose all or a substantial portion of your investment.

2. Gross vs. Net Performance: Performance shown gross of fees does not include management fees, incentive allocations, and expenses which would reduce returns.

3. Hypothetical Performance: Simulated or back-tested results have inherent limitations and do not represent actual trading. Results may have compensated for market factors like lack of liquidity.

THE COMMODITY FUTURES TRADING COMMISSION HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN THIS TRADING PROGRAM NOR HAS THE COMMISSION PASSED ON THE ADEQUACY OR ACCURACY OF THIS DISCLOSURE DOCUMENT.

TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

  • Algorithm Risk: Trading systems may contain errors, flaws, or limitations causing losses. Systems may fail in rapidly changing or unusual market conditions.
  • Model Risk: Mathematical models may be based on incorrect assumptions or contain design flaws. Models may not perform as expected.
  • Black Box Risk: AI decision-making may not be fully transparent or explainable, even to management.
  • Data Risk: Algorithms rely on data which may be incomplete, inaccurate, or misleading, causing improper trading decisions.
  • Over-Optimization: Algorithms may be "over-fitted" to historical data and perform poorly when future conditions differ.
  • Crowded Trade Risk: Many firms use similar strategies, potentially causing correlated positions and amplified losses.

💥 EXAMPLE OF POTENTIAL LOSS:

A strategy with 15% historical returns and 10% volatility could experience a 30%+ drawdown under adverse conditions. A $1,000,000 investment could decrease to $700,000 or less due to algorithmic failures.

Leverage amplifies both gains and losses. Use of margin, futures, options, swaps, and other derivatives can result in losses exceeding the amount invested.

  • Leverage Risk: Borrowed funds multiply losses. Small market moves can result in large losses.
  • Margin Calls: May require immediate additional capital or force liquidation at disadvantageous prices.
  • Counterparty Risk: In OTC derivatives, counterparties may default or fail to meet obligations.
  • Derivatives Volatility: Options and futures can be highly volatile and illiquid.

💥 LEVERAGE EXAMPLE:

With 5:1 leverage, a 10% adverse move results in a 50% loss. A $1,000,000 investment using leverage could lose $500,000 from just a 10% price movement.

  • Limited Liquidity: No public market exists for fund interests. Your investment is illiquid.
  • Redemption Restrictions: Lockup periods, gates, side pockets, or suspension of redemptions may apply.
  • Notice Period: Typically 30-90 days advance notice required for redemptions.
  • In-Kind Distributions: Redemptions may be paid in securities rather than cash.
  • Partial Redemptions: During reduced liquidity, redemptions may be fulfilled pro-rata or queued.

⚠️ LIQUIDITY EXAMPLE:

With a 90-day redemption notice and 25% quarterly gate, you could wait over a year to fully liquidate. During this time, your investment value could decline significantly.

  • System Failures: Hardware failures, software errors, power outages may cause significant losses.
  • Cybersecurity: Vulnerable to cyber-attacks, data breaches, theft of algorithms or investor data.
  • Third-Party Failures: Trading platforms, data feeds, cloud services may fail or be disrupted.
  • Communication Failures: Internet or telecommunications disruptions may prevent trade execution.

💥 SYSTEM FAILURE EXAMPLE:

A one-hour outage during volatile conditions could prevent adjusting positions or executing stop-losses. Potential losses of 15%+ ($150,000 on a $1M investment) are possible.

  • Flash Crash Risk: Severe losses during market disruptions or flash crashes, potentially exacerbated by algorithmic trading.
  • Market Manipulation: Large participants may manipulate markets, causing sudden price movements.
  • Market Dislocation: During stress, historical correlations may break down, causing unexpected losses.
  • Circuit Breakers: Trading halts may prevent strategy execution or position exits.

💥 FLASH CRASH REFERENCE:

During the May 6, 2010 Flash Crash, the Dow Jones fell ~9% in minutes. If algorithms executed trades during such an event, a $1M investment could drop to $910,000, with losses potentially permanent if positions were liquidated.


CRITICAL DISCLAIMERS

⚠️ NO FDIC/SIPC INSURANCE

INVESTMENTS IN AI FUTURES FUND LLC ARE NOT BANK DEPOSITS AND ARE NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC), SECURITIES INVESTOR PROTECTION CORPORATION (SIPC), OR ANY OTHER GOVERNMENT AGENCY OR PRIVATE INSURANCE PROGRAM. YOU MAY LOSE ALL OR A SUBSTANTIAL PORTION OF YOUR INVESTMENT.

⚠️ TOTAL LOSS OF CAPITAL POSSIBILITY

An investment in the Fund involves a HIGH DEGREE OF RISK. There is NO ASSURANCE that investment objectives will be achieved. Trading strategies involve the risk of LOSS OF ENTIRE INVESTMENT. Investors must be prepared to bear such losses.

💥 WORST-CASE SCENARIO:

In a worst-case scenario combining catastrophic market events, system failures, and regulatory actions: An investment of $1,000,000 could decline to $0.

📋 ACCREDITED INVESTOR REQUIREMENT

Investments are offered only to "accredited investors" as defined in Regulation D. Generally: net worth exceeding $1,000,000 (excluding primary residence) OR annual income exceeding $200,000 ($300,000 jointly) for the past two years with reasonable expectation of similar income in current year.


FORWARD-LOOKING STATEMENTS DISCLAIMER

Certain statements constitute "forward-looking statements" using terms such as "may," "will," "expect," "anticipate," "target," "project," "estimate," "intend," "believe," or similar terminology. Due to risks and uncertainties, actual results may differ materially. No representation or warranty is made as to future performance.

INVESTOR ACKNOWLEDGMENT

By investing in AI Futures Fund LLC, you acknowledge that you have read, understood, and accepted all risk disclosures in this document and the Fund's offering documents. You understand that:

  • You may lose your entire investment
  • Losses may exceed your initial investment if leverage is used
  • Past performance does not predict future results
  • You have consulted with legal, tax, and financial advisors
  • You are a sophisticated investor capable of evaluating these risks
  • You can bear the economic risk of losing your entire investment
Document ID: RISK-2025-10-27 | Version: 1.0 | Compliance: SEC Rule 206(4)-1 + CFTC Reg 4.41This disclaimer was prepared with input from Claude 3.7 Sonnet (SEC/CFTC legal expertise) + regulatory research