The Primary Goal of The ASII Cardlord Fund, right now, is to reach $100K in Total Asset Value (TAV)- once we reach that benchmark, I will consider the fund 'mature' and switch it to it's permanent structure:
https://peakd.com/splinterlands/@axrho/the-cardlord-fund
In order to facilitate reaching that goal, I have laid out a (rough) roadmap for ASII. This roadmap consists of 4 stages or Phases: Startup to $25K, $25-$50K, $50-$75K and $75-$100K.

Phase I- Inception to $25K in TAV

After Funding and initial asset swaps, will issue ASII tokens roughly equivalent to the TAV of the account. Each token will receive a full (100%) and proportionate share of the Fund's income after each Season. The ASII account will keep 90% of the tokens, the rest of the tokens will be listed on HE or spent on assets for the account.
As it turned out- after the Initial Funding and asset transfers, the ASII account had ~$20K in TAV between coins, LPs holdings and cards. This meant that I Issued 20,000 tokens to the account to start with and that the fund, in turn, listed/sold 2,000 of the initial tokens to Founder HODLers.
(We have reached both benchmarks for this Phase- all 2K tokens have been sold and the TAV of the account has crossed $25K)

Phase II- $25K to $50K in TAV

Once we hit the benchmarks of Phase I, there will be a slight shift in allocations and approach for the fund.

1. The % of ASII tokens outstanding held by the ASII account will go from 90% to 80%. With the increasing revenues from a larger and larger account- 80% should be sufficient to guarantee continued growth of the account. Tokens will continue to receive 100% of the accounts earnings.
2. With the initial move from Phase I to II, 5K additional tokens will be issued. 3K of those tokens will be available for sale- with the 'Right of First Refusal' given to all current HODLers, offers made to each account in order of current size of holdings.
3. Slowly start changing the % of assets held from LPs (where the initial idea was to establish them and begin ramping up bonuses) into cards.
4. Moving the remaining LP assets from lower performing LPs into LPs with better Reward APRs or into Staked SPS.

Although Staked SPS has a, relatively, low APR (~25% APR) there is the Voucher AD, as well, and I expect that ASII will be buying more packs of SPL cards- CL/Riftwatchers/Others and the Vouchers, while now not worth much- will most probably increase in value. SPS, itself, is incredibly undervalued right now, in my opinion. I expect that the value of SPS should, at least, double by EOY and being able to make 30-40% APR on an asset while we wait for it to double (or triple or quadruple...) isn't a bad deal.
In addition, during this Phase, each time the TAV of the account increases by $5K- I will issue an additional 5K tokens to the ASII account, of which, 4K will be HODL by the account and 1K will be offered for sale on HE at the beginning of the following season.

Phase III- $50K to $75K in TAV

Once again, there will be some slight adjustments to token allocations and asset mixes:
ASII will only hold 70% of the issued tokens, the rest will be circulated whether through private offerings to HODLers or through sales on HE. During this Phase- tokens will receive 90% of the earnings from ASII in stead of the full (100%) earnings of the account.

1. We will be eliminating holdings in any DEC LPs- turning them into cards/high return, self feeding LPs or SPS for Staking.
2. Distributions will change from DEC (or other crypto tokens) to ASII- after each EOS, the TAV gain will be calculated, additional tokens will be issued based on the increased TAV. These will be Distributed to current HODLers. Any 'left-over' tokens will be listed on HE.

Phase IV- $75K to $100K in TAV

Once we pass $75K in TAV- there will be, again, a slight change in focus for the fund:
We will be actively searching for a TRACT to purchase. By this time, prices should be reasonable and the timing should be good- additionally, the size of the account would accommodate ingesting an asset of this size.
Once we acquire a TRACT- this should push us across the line to $100K in TAV and move us into the mature form of the fund.
During this last Phase before we reach 'Maturity', ASII will also look to lower it's total HODL of tokens to ~50% of the Issued Tokens. We will also increase the amount held back for growth to 20% of the Total Earnings, from 10%- meaning Tokens will receive 80% of the Earnings of the account.

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