Monday, 30 November 2015
Last updated 2 days ago
Feb 5 2009 | 12:27am 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…