0001752724-21-236691.txt : 20211112
0001752724-21-236691.hdr.sgml : 20211112
20211112140815
ACCESSION NUMBER: 0001752724-21-236691
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20210831
FILED AS OF DATE: 20211112
DATE AS OF CHANGE: 20211112
EFFECTIVENESS DATE: 20211112
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: James Alpha Funds Trust
CENTRAL INDEX KEY: 0001829774
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0831
FILING VALUES:
FORM TYPE: N-CEN
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-23611
FILM NUMBER: 211402510
BUSINESS ADDRESS:
STREET 1: 515 MADISON AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10022
BUSINESS PHONE: 888-814-8180
MAIL ADDRESS:
STREET 1: 515 MADISON AVENUE
CITY: NEW YORK
STATE: NY
ZIP: 10022
0001829774
S000070611
Easterly Global Real Estate Fund
C000224295
Easterly Global Real Estate Fund Class I
JARIX
C000224296
Easterly Global Real Estate Fund Class C
JACRX
C000224297
Easterly Global Real Estate Fund Class A
JAREX
C000224298
Easterly Global Real Estate Fund Class R6
JARSX
0001829774
S000070612
Easterly Hedged High Income Fund
C000224299
Easterly Hedged High Income Fund Class I
INCIX
C000224300
Easterly Hedged High Income Fund Class C
INCCX
C000224301
Easterly Hedged High Income Fund Class R6
INCSX
C000224302
Easterly Hedged High Income Fund Class A
INCAX
0001829774
S000070613
Easterly Global Macro Fund
C000224303
Easterly Global Macro Fund Class R6
GRRSX
C000224304
Easterly Global Macro Fund Class I
GRRIX
0001829774
S000070614
Easterly Hedged Equity Fund
C000224305
Easterly Hedged Equity Fund Class A
JDAEX
C000224306
Easterly Hedged Equity Fund Class C
JDCEX
C000224307
Easterly Hedged Equity Fund Class I
JDIEX
C000224308
Easterly Hedged Equity Fund Class R6
JDSEX
0001829774
S000070616
Easterly Multi Strategy Alternative Income Fund
C000224313
Easterly Multi Strategy Alternative Income Fund Class R6
JASMX
C000224314
Easterly Multi Strategy Alternative Income Fund Class I
JAIMX
C000224315
Easterly Multi Strategy Alternative Income Fund Class C
JACMX
C000224316
Easterly Multi Strategy Alternative Income Fund Class A
JAAMX
N-CEN
1
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C000224297
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S000070616
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C000224316
C000224314
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S000070613
C000224304
C000224303
S000070612
C000224302
C000224300
C000224301
C000224299
S000070614
C000224307
C000224305
C000224306
C000224308
James Alpha Funds Trust
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0001829774
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New York
10022
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888-814-8180
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Fund Accounting and Transfer Agent Records
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Niel Medugno
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Patricia Walker
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Darrell Crate
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Emile Molineaux
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4221 N 203rd St, Ste 100
Elkhorn
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CITIGROUP
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BLOOMBERG
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Easterly Multi Strategy Alternative Income Fund
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Easterly Funds LLC
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Bullseye Asset Management LLC
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Ranger Global Real Estate Advisors, LLC
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Kellner Private Fund Management LP
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N/A
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Lazard Asset Management, LLC
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Ultimus Fund Solutions, LLC
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ICE Data Services
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BNY Mellon Corp.
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Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
BROWN BROTHERS HARRIMAN & Co.
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Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
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Ultimus Fund Solutions, LLC
84-05829
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Ultimus Fund Solutions, LLC
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Easterly Funds LLC
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000281785
N/A
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Ultimus Fund Solutions, LLC
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N/A
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ICE Data Services
N/A
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BROWN BROTHERS HARRIMAN & Co.
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Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
BNY Mellon Corp.
4EP6JBYBTPTQ47LZOB67
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Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
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Ultimus Fund Solutions, LLC
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Ultimus Fund Solutions, LLC
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Fund of Funds
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Ultimus Fund Solutions, LLC
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true
INTERNAL CONTROL RPT
2
IC_Letter.txt
IC LETTER
REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM
Shareholders and Board of Trustees
James Alpha Funds Trust d/b/a Easterly Funds Trust
In planning and performing our audits of the financial
statements of the Easterly Global Macro Fund, Easterly
Global Real Estate Fund, Easterly Multi-Strategy
Alternative Income Fund, Easterly Hedged Equity Fund,
Easterly Hedged High Income Fund, each a series of
James Alpha Funds Trust d/b/a Easterly Funds Trust (the
"Funds"), as of and for the year ended August 31, 2021,
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 Funds 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 company's 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. A company's 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 company; (2) provide
reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in
accordance with generally accepted accounting
principles, and that receipts and expenditures of the
company are being made only in accordance with
authorizations of management and directors of the
company; and (3) provide reasonable assurance
regarding prevention or timely detection of unauthorized
acquisition, use or disposition of a company's assets that
could have a material effect on the financial statements.
Because of 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 company's 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 material weaknesses as
defined above as of August 31, 2021.
This report is intended solely for the information and use
of management, the Board of Trustees of the James
Alpha Funds Trust d/b/a Easterly Funds Trust 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/TAIT, WELLER & BAKER LLP
Philadelphia, Pennsylvania
October 29, 2021