Rypien Foundation Named Beneficiary of 16th Annual Zak!Charity Open Ev

Legend Advisory Corporation president Michael Quiel possesses over 20 years of investment experience and leads his company in assisting other businesses in establishing a path for future development. Since joining the company, he has assisted with providing $200 million in equity and debt financing. Michael Quiel also contributes to a number of charitable causes, including the Rypien Foundation, a Washington organization that supports children diagnosed with cancer and their families. The organization is set to be the benefiting charity for Zak!Charity Open’s (ZCO) 2015 event.

Hosted by the dinnerware and kitchenware product company Zak Designs, ZCO consists of a two day event intended to bring people together from around the country to raise money for the charitable efforts of the Boys & Girls Clubs of Spokane County and the Rypien Foundation. The Rypien Foundation began participating with ZCO events in 2005.

Funds raised by the event will benefit the foundation’s projects and programs that support children with cancer, as well as other nonprofit organizations that provide services for children and families in the Inland Northwest area faced with a cancer diagnosis. Current and previous initiatives by the Rypien Foundation include a grant process to support fellow childhood cancer organizations, a variety of programs for children and their families, and participation in numerous projects that benefit hospitalized children at the Sacred Heart Children’s Hospital in Spokane, Washington.

The 2015 ZCO event will mark its sixteenth year and kick off its Summer Celebration dinner and auction on July 26 at the Northern Quest Resort and Casino’s Pavilion. In addition to the celebration dinner and auction, participants of the event can join an open golf tournament the following day at the Spokane Country Club.

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What Is a Hedge Fund?

With 23 years in the management of investments, brokerage, and hedge funds, Michael Quiel is a managing partner with Legend Asset Opportunity Master Fund, as well as the owner and president of Legend Advisory Corporation. His experience in his profession has enabled Michael Quiel to successfully manage and oversee his company’s Cayman Hedge Fund, in addition to other roles, such as monitoring portfolio risks, managing property purchases, and working with investment strategies. Hedge funds, while often riskier than other investments, such as mutual funds, can pay off well.

A hedge fund is typically only available to high-net-worth individuals or institutions and functions as an alternative mode of investment. Created in 1949, a hedge fund consists of a pool of securities, of which the range of potential for investing in is greater than for a mutual fund. This is largely due to hedge funds being unregulated, which creates fewer restrictions on investments in riskier securities.

A long-short strategy is employed for a hedge fund, meaning stocks are purchased as well as sold with borrowed money and re-purchased when the price falls. Furthermore, a technique called leverage is used, meaning borrowed money is invested in, which can increase the return but also carries greater risks of loss. Hedge fund investors must receive accreditation of a minimum annual income, have a net worth greater than $1 million, and have investment knowledge and experience.