Tuckerbrook Offers Daily Reporting To Investors

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.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...