What Is the Pursuit Asset-Based Income Fund?

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Tell us about the Pursuit Asset-Based Income Fund.

The Pursuit Asset-based Income fund is a closed-end interval fund that seeks to deliver high current income through asset-based investments in hard to access niche markets that may offer a return premium and more robust risk controls than comparable fixed income or private debt institutional offerings.

How would you describe the core investment thesis?

Our core thesis at Pursuit Funds is that we seek to maintain a first mover advantage that benefits from limited competition, potentially enabling a higher cost of capital while tightly dictating terms covenants and control rights.

What are some of the key characteristics of this strategy?

There are numerous benefits and characteristics to this strategy. Firstly, as I said, we do secured asset-based investments. Secondly, contractual cash flows assets with durable physical income streams. We maintain generally a short tenure of our assets targeting 3-36 months tenure. On average, our loans and our assets are primarily self-amortizing, so they’re repaid through the self-liquidation of the underlying assets. Structural seniority, structural security, no investments are in a first loss position. We also maintain direct and opportunistic access. We invest both directly and indirectly through structured notes, bilateral deals, co-investments, and customized LP stakes. We seek loss mitigation including loan covenants, performance-based cashflow waterfalls and asset enforceability. And lastly and importantly, we seek reduced valuation uncertainty. Our potential return streams are predominantly realized due to highly visible contractual cash flows.

What potential benefits can these characteristics in this strategy offer to investors?

With our investment strategy, you have potentially a number of benefits:

Relatively low correlation. Why? We’re investing in idiosyncratic private debt strategies.
We provide unique access. We’re targeting undercapitalized assets that are not broadly financed by institutional investors in an accessible user-friendly fund structure.
We seek attractive income potential for our investors. Consistent cash flows by prioritizing assets that generally self-amortize over three to 36 months, and
We seek a potential niche premium. These inefficient markets with limited competition may offer high return premiums, low volatility, high visibility, and a differentiated exposure and some very tangible advantages.
Transparency: we combine the transparency of a registered fund with a daily NAV with a return potential of private credit.
In terms of ease of access, daily subscriptions into GOFOX, which will be on the major custodial platforms.
Tax reporting: we will issue the fund will issue a 1099 to investors rather than a K-1. H) And lastly, liquidity by regulation: We are required to offer a quarterly redemption window.

To learn more about the Pursuit Asset-Based Income Fund, visit pursuitfunds.com for our fact sheet, prospectus, recent performance and other materials, or reach out via our website to have a one-on-one discussion and learn more.

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Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained from the Fund at (888) 723-1542 or by visiting pursuitfunds.com. An investor should read the prospectus carefully before investing.

Summary of Risk Factors

Pursuit Asset-Based Income Fund (“GOFOX”) is a closed-end management investment company structured as an “interval fund” that expects to invest at least 80% of its net assets (plus any borrowings for investment purposes) in specialized investments in smaller, undercapitalized assets and markets, referred to as “Niche Asset-Based Alternatives.” This investment involves a high degree of risk and should be considered speculative. You should purchase these securities only if you can afford the complete loss of your investment. You should read the prospectus carefully for a description of the risks associated with an investment in GOFOX. These risks include, but are not limited to, the following:

The Fund is not intended as a complete investment program but rather the Fund is designed to help investors diversify into private credit investments.
The Fund is a “nondiversified” management investment company registered under the Investment Company Act of 1940. Since the Fund is non-diversified, it is subject to higher reduction of capital and volatility than a fund more proportionately allocated among a large number of securities.
An investment in the Fund involves risk. The Fund is new with no significant operating history by which to evaluate its potential performance. There can be no assurance that the Fund’s strategy will be successful.
The Fund may use leverage its investments by “borrowing.” The use of leverage increases both risk of loss and profit potential.
Shares of the Fund are an illiquid investment. Shares are not listed on any securities exchange and it is not anticipated that a secondary market for shares will develop.
Shares are appropriate only for those investors who can tolerate a high degree of risk, and do not require a liquid investment. You should generally not expect to be able to sell your Shares (other than through the limited repurchase process), regardless of how we perform. Although we are required to and have implemented a Share repurchase program, only a limited number of Shares will be eligible for repurchase by us.
There is no assurance that you will be able to tender your shares when or in the amount that you desire. Although the Fund will offer quarterly liquidity through a quarterly repurchase process, an investor may not be able to sell or otherwise liquidate all their shares tendered during a quarterly repurchase offer. Because you will be unable to sell your Shares or have them repurchased immediately, you will find it difficult to reduce your exposure on a timely basis during a market downturn.
The Fund intends to invest in private companies and private loans for which very little public information exists. Such companies are also generally more vulnerable to economic downturns and may experience substantial variations in operating results. The privately held companies and below-investment-grade securities in which the Fund will invest may be difficult to value and are illiquid. The Fund’s investment in private credit companies is speculative and involves a high degree of risk, including the risk associated with leverage.
Asset-based investments often involve risks that are different from or more acute than risks associated with other types of debt instruments. For instance, asset-based investments may be particularly sensitive to changes in prevailing interest rates. In addition, the underlying assets are subject to prepayments that shorten the securities’ weighted average maturity and may lower their return.
To the extent a loan is secured, there can be no assurance as to the amount of any funds that may be realized from recovering and liquidating any collateral or the timing of such recovery and liquidation and hence there is no assurance that sufficient funds (or, possibly, any funds) will be available to offset any payment defaults that occur under the loans.

The Fund commenced operations on October 1, 2025 (“Commencement of Operations”) following the reorganization of the Pursuit Alternative Income Fund, LP (the “Predecessor Fund”) with and into the Fund, which was effective as of the close of business on September 23, 2025. The Predecessor Fund maintained an investment objective, strategies and investment policies, guidelines and restrictions that are, in all material respects, equivalent to those of the Fund. At the time of the reorganization, the Fund and the Predecessor Fund shared the same investment adviser and portfolio managers. The Predecessor Fund commenced operations on October 11, 2024.

Pursuit Fund Advisers, LLC (“Pursuit Funds”) serves as the investment adviser to the Pursuit Asset-Backed Income Fund. The Fund is distributed by Distribution Services, LLC which is not affiliated with Pursuit Funds or any of their affiliates.