0001145549-20-040292.txt : 20200713
0001145549-20-040292.hdr.sgml : 20200713
20200713145523
ACCESSION NUMBER: 0001145549-20-040292
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20200430
FILED AS OF DATE: 20200713
DATE AS OF CHANGE: 20200713
EFFECTIVENESS DATE: 20200713
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Variant Alternative Income Fund
CENTRAL INDEX KEY: 0001736510
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0430
FILING VALUES:
FORM TYPE: N-CEN
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-23336
FILM NUMBER: 201025093
BUSINESS ADDRESS:
STREET 1: C/O UMB FUND SERVICES, INC.
CITY: MILWAUKEE
STATE: WI
ZIP: 53212
BUSINESS PHONE: 4142992200
MAIL ADDRESS:
STREET 1: C/O UMB FUND SERVICES, INC.
CITY: MILWAUKEE
STATE: WI
ZIP: 53212
N-CEN
1
primary_doc.xml
X0201
N-CEN
LIVE
0001736510
XXXXXXXX
true
false
false
N-2
VARIANT ALTERNATIVE INCOME FUND
811-23336
0001736510
549300VKWK774XXSGI69
235 WEST GALENA STREET
MILWAUKEE
532123948
US-WI
US
4142992000
UMB FUND SERVICES, INC.
235 WEST GALENA STREET
MILWAUKEE
53212
4142992000
FUND ACCOUNTANT AND ADMINISTRATOR
VARIANT INVESTMENTS LLC
10300 SW GREENBURG ROAD, SUITE 308
PORTLAND
97223
5035630700
ADVISOR
DRINKER BIDDLE & REATH LLP
ONE LOGAN SQUARE, STE 2000
PHILADELPHIA
19103
2159882700
LEGAL COUNSEL
N
N
N
N-2
N
David G. Lee
N/A
N
Gary Shugrue
N/A
N
Anthony Fischer
N/A
Y
Terrance P. Gallagher
N/A
Y
Robert Seyferth
N/A
N
Perpetua Seidenberg
006308298
223 Wilmington W Chester Pike
Chadds Ford
19317
XXXXXX
N
N
N
N
N
N
N
FORESIDE FUND SERVICES, LLC
8-51293
000046106
N/A
N
N
COHEN & COMPANY, LTD
00925
N/A
N
N
N
N
N
N
N
VARIANT ALTERNATIVE INCOME FUND
549300VKWK774XXSGI69
Y
Interval Fund
Y
N
Y
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
Y
N
VARIANT INVESTMENTS LLC
812-14922
N/A
N/A
N
UMB FUND SERVICES, INC.
084-05792
N/A
Y
N
N
INTERCONTINENTAL EXCHANGE, INC.
5493000F4ZO33MV32P92
N
N
UMB BANK, NATIONAL ASSOCIATION
VNOO6EITDJ2YUEBMSZ83
Y
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
N
UMB FUND SERVICES, INC.
084-05792
SEC File Number
Y
N
N
UMB FUND SERVICES, INC.
084-05792
SEC File Number
Y
N
N
INTERACTIVE BROKERS LLC
8-47257
000036418
50OBSE5T5521O6SMZR28
20173.000000000000
20173.000000000000
0.000000000000
N
210694265.000000000000
N
N
N
N
N
Common stock
N
N
N
0.950000000000
1.450000000000
N/A
26.320000000000
true
INTERNAL CONTROL RPT
2
variantinternalcontrolletter.txt
INTERNAL CONTROL LETTER
REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM
To the Shareholders and Board of Trustees
of Variant Alternative Income Fund
In planning and performing our audit of
the financial statements of Variant
Alternative Income Fund (the Fund) as
of and for the year ended April 30, 2020,
in accordance with the standards of the
Public Company Accounting Oversight
Board (United States), we considered
the Funds internal control over financial
reporting, including controls over
safeguarding securities, as a basis for
designing our auditing procedures for the
purpose of expressing our opinion on the
financial statements and to comply with
the requirements of Form N-CEN, but not
for the purpose of expressing an opinion
on the effectiveness of the Funds
internal control over financial reporting.
Accordingly, we express no such opinion.
The management of the Fund is responsible
for establishing and maintaining effective
internal control over financial reporting.
In fulfilling this responsibility,
estimates and judgments by management are
required to assess the expected benefits
and related costs of controls. A funds
internal control over financial reporting
is a process designed to provide reasonable
assurance regarding the reliability of
financial reporting and the preparation of
financial statements for external purposes
in accordance with generally accepted accounting
principles (GAAP). A funds internal control
over financial reporting includes those policies
and procedures that (1) pertain to the
maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions
and dispositions of the assets of the fund; (2)
provide reasonable assurance that transactions
are recorded as necessary to permit preparation
of financial statements in accordance with GAAP,
and that receipts and expenditures of the fund
are being made only in accordance with authorizations
of management and trustees of the fund; and (3)
provide reasonable assurance regarding prevention
or timely detection of unauthorized acquisition,
use or disposition of a funds assets that could
have a material effect on the financial statements.
Because of its inherent limitations, internal
control over financial reporting may not prevent or
detect misstatements. Also, projections of any
evaluation of effectiveness to future periods are
subject to the risk that controls may become
inadequate because of changes in conditions, or that
the degree of compliance with the policies or
procedures may deteriorate.
A deficiency in internal control over financial
reporting exists when the design or operation of a
control does not allow management or employees, in
the normal course of performing their assigned
functions, to prevent or detect misstatements on a
timely basis. A material weakness is a deficiency,
or combination of deficiencies, in internal control
over financial reporting, such that there is a
reasonable possibility that a material misstatement
of the Funds annual or interim financial statements
will not be prevented or detected on a timely basis.
Our consideration of the Funds internal control over
financial reporting was for the limited purpose
described in the first paragraph and would not
necessarily disclose all deficiencies in internal
control that might be material weaknesses under
standards established by the Public Company Accounting
Oversight Board (United States). However, we noted
no deficiencies in the Funds internal control over
financial reporting and its operation, including
controls over safeguarding securities that we consider
to be a material weakness as defined above as of
April 30, 2020.
This report is intended solely for the information
and use of management and the Board of Trustees of
the Fund and the Securities and Exchange Commission
and is not intended to be and should not be used by
anyone other than these specified parties.
/S/ COHEN & COMPANY, LTD.
Chicago, Illinois
June 29, 2020