Fund Accounting

Monthly/Quarterly Services:

  • Prepare fund financial statements with the appropriate accruals.
  • Allocate the financial income, or loss to the investors including “new issues” income or loss.
  • Calculate and record management fee.
  • Calculate the performance allocation or performance fee.
  • Calculate monthly, quarterly, year-to-date and inception-to-date performance for the fund and each investor.
  • Reconcile prime broker reports to brokerage statements.
  • Review prime broker reports and make necessary adjustments based on information provided by the fund or prime broker.
  • ERISA calculation.

Annual Services:

  • Prepare audit workpapers to facilitate the fund’s audit and respond to inquiries from the fund’s auditors.
  • Provide contact information for investor questions and use reasonable efforts to answer such questions.

Tax Services:

  • Assist the tax return preparer by allocating taxable income to the partners.
  • Maintain a schedule of partner book and tax basis.

Fund Administration

  • Maintain a list of investors and their contact information.
  • Process investor contributions and subscription documents.
  • Process investor withdrawals.
  • Maintain a file of investor correspondence including original subscription document and withdrawals requests.
  • Prepare and distribute a monthly or quarterly account statement for each investor.

Management Company Accounting

  • Prepare general partner financial statements.
  • Prepare administrative manager financial statements.
  • Reconcile bank accounts.
  • Assist the tax return preparer with the preparation of the general partner and management company tax returns.

Consulting Services

Review the fund documents and provide feedback on the following:

  • Management fee structure.
  • Incentive allocation/fee structure.
  • Subscription procedures.
  • Withdrawals procedures.
  • Allocation of fund income and expenses including allocation of “new issues” income or loss.
  • Tax issues.
  • Review investment management agreement.