Frequently Asked Questions

Eligible clients may work with Libra through a segregated managed account or, where permitted, through a third-party-issued investment note. In a managed account, the client owns the account assets. In a note, the investor owns a security issued by a third party. Availability depends on jurisdiction, investor eligibility, custodian or bank acceptance and the governing documents.

The client opens a brokerage account in their own name at an approved qualified custodian. The custodian holds the assets, handles deposits and withdrawals, and sends account statements directly to the client. Under a written advisory agreement, Libra receives limited authority to manage the approved investments. The client retains ownership and control of the account.

Depending on the mandate and account permissions, Libra may manage U.S.-listed ETFs, selected U.S. equities, fixed-income instruments, cash and rules-based futures strategies. The public-markets component is generally designed as the portfolio's longer-term strategic core. The futures component may take long or short positions and adjust exposure under documented risk controls.

Not necessarily. When the account or product structure permits, both components may be implemented together. When securities and futures permissions or agreements require separation, they may be managed through coordinated sleeves or accounts. Libra evaluates their combined exposure, liquidity, margin and risk as part of the overall portfolio architecture.

The allocation is based on the client's objectives, risk tolerance, liquidity needs, investment horizon, restrictions and account permissions. A lower risk budget will generally permit less leverage, concentration and futures exposure, but the appropriate mix depends on the complete portfolio and governing mandate. No allocation eliminates the risk of loss.

Public regulatory filings and disclosed holdings of selected investment managers may be used as research inputs. Libra evaluates each security independently for portfolio fit, valuation, liquidity and risk. The portfolio does not copy another manager in real time, and the prior results of any referenced manager are not the results of Libra's portfolio.

Rules-based models generate entries, exits and position sizes in selected liquid, exchange-traded futures, focused primarily on U.S. equity indices, U.S. Treasury and interest-rate markets, and selected currencies. Strategies may hold long or short exposures or reduce exposure, subject to documented limits for leverage, concentration, margin, liquidity and drawdown. Futures involve substantial risk and are not suitable for every investor.

It is a security issued by an independent third party that provides exposure to a Libra-managed strategy. The investor owns the note, not the issuer's underlying portfolio account. Libra is the portfolio manager and is not the issuer, custodian, distributor or guarantor. The investor is exposed to the issuer, and the final offering documents control eligibility, rights, liquidity, valuation, fees and risks.

Where permitted and supported by the financial institution, an eligible investor may purchase and hold the note through an existing bank or investment account. Availability depends on the institution, jurisdiction, investor eligibility, selling restrictions and final offering documents. Holding the note at a bank does not make it a bank deposit or make it FDIC insured.

Protection depends on the custodian, legal entity, account type and assets. A securities account at a SIPC-member broker may be eligible for SIPC protection if the broker fails and client assets are missing, subject to SIPC rules and limits. SIPC does not protect market losses and generally does not protect commodity futures. FDIC insurance applies only to qualifying bank deposits or eligible bank-deposit sweep balances. It does not cover ETFs, stocks, bonds, futures, notes or investment losses. Review the custodian's disclosures for the specific account.

Fees vary by mandate and access structure. Advisory fees, performance-based fees where applicable and permitted, and product-level expenses are disclosed in the advisory agreement, Form ADV or final offering documents before the client enters the relationship or purchases a note.

Libra's Florida investment-adviser registration can be reviewed through IAPD under CRD 333647. Its commodity trading advisor and membership information can be reviewed through NFA BASIC under NFA ID 0577422. Mariano Crespo's Investment Adviser Representative record can be reviewed under CRD 7996290. Registration or membership does not imply endorsement, approval or a guarantee of performance.