Tuckerbrook Offers Daily Reporting To Investors

Feb 5 2009 | 1:27am ET

In another sign of these transparent times, Tuckerbrook Alternative Investment is offering its hedge fund investors daily asset statements, which will be prepared and delivered to by the funds' independent administrator, Citi Hedge Fund Services.

Under the new reporting system, clients will be provided daily statements specifying cash balances and aggregate fair market values of long securities and short securities.

“In light of the impact 2008 is having on the hedge fund business, transparency is the most important enhancement the industry can embrace," said John Hassett, managing principal of Tuckerbrook. “Although unique in the industry now, we would expect this level of reporting to become standard practice in the future.”

Ninety percent or more of all hedge fund investments are in co-mingled fund structures, with only the largest investors having daily accountability through separately managed accounts, according to Moses Grader, chief operating officer of Tuckerbrook.

“Daily transparency at the client account-level, delivered by a trusted third party, is a major step up in accountability to those investors that don’t have an SMA,” he said.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of