0001145549-21-040967.txt : 20210712
0001145549-21-040967.hdr.sgml : 20210712
20210712165255
ACCESSION NUMBER: 0001145549-21-040967
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20210430
FILED AS OF DATE: 20210712
DATE AS OF CHANGE: 20210712
EFFECTIVENESS DATE: 20210712
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: 211086009
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
X0404
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
FAEGRE 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
Robert Seyferth
N/A
N
Gary Shugrue
N/A
N
Terrance P. Gallagher
N/A
Y
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
VARIANT ALTERNATIVE INCOME FUND
549300VKWK774XXSGI69
N
Interval Fund
Y
N
Y
N
N/A
N/A
N/A
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
Y
Y
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
Y
N
N
INTERACTIVE BROKERS LLC
8-47257
000036418
50OBSE5T5521O6SMZR28
6689.000000000000
6689.000000000000
0.000000000000
N
579145490.000000000000
Common stock
INVESTOR CLASS
Common stock
INSTITUTIONAL CLASS
N
N
N
N
N
N
0.950000000000
0
N/A
0
true
INTERNAL CONTROL RPT
2
controlletter.txt
INTERNAL CONTROL REPORT
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, 2021, in
accordance with the standards of the Public Company
Accounting Oversight Board (United States) (PCAOB),
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 NCEN, 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 PCAOB.
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, 2021.
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.
COHEN & COMPANY, LTD.
Chicago, Illinois June 29, 2021