Understanding Master Feeder Accounting

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Accounting for master feeder funds has once again come to the forefront of the hedge fund industry. In general, depending on the objectives of the fund and the target market, the advantages of setting up a hedge fund with a master feeder structure can outweigh the disadvantages. So, what is master feeder accounting? This informative 14 page white paper explains the overall concept and details the advantages and disadvantages of master feeder accounting. So if you have, or are considering a master feeder fund, this report is an important resource for you and your firm.

Here is the table of contents:

Master Feeder Funds—Background
Advantages of a master feeder structure
Disadvantages of a master feeder structure
Difference between a Master Feeder and A Fund of Funds

General Accounting Procedures and Workflow

Capital Flows
Generation of P&L
Allocation of P&L
Management Fees
Performance Fees

Advanced Topics

Hot Issues—”Pro Rata” and “Look Through”
Multiple Masters/Multiple Feeders
Direct Investments by Limited Partners
Currency Hedges