affordable accounting software for ib users

[emk662]

My friend is trying to run a hedge fund and looking for an AFFORDABLE software that can calculate performance fee, management fee, PL, etc. He is using the Interactive Brokers. Any suggestions? Thanks.

 

[mickson]

Quote from emk662:

My friend is trying to run a hedge fund and looking for an AFFORDABLE software that can calculate performance fee, management fee, PL, etc. He is using the Interactive Brokers. Any suggestions? Thanks.

Try www.rapadashboard.com it is free

 

[rmorse]

If your hedge fund is friends and family that might do. If your raising money from strangers, you'll need a third party administrator. Send me an email with your contact information and a description of the HF and I'll recommend one. You might also need a yearly audit from a different party.

If the fund is small, this can all be expensive. That's why I recommend SMA until the fund can reach the level that this all makes sense.

Bob

 

[emk662]

Yes, it is a small one raising money from strangers. It cannot afford expensive third party service now. What does SMA mean? Thanks.

 

[rmorse]

Quote from emk662:

Yes, it is a small one raising money from strangers. It cannot afford expensive third party service now. What does SMA mean? Thanks.

separately managed account. Instead of one account normally an LP for a hedge fund, your clients can have their own account with you having trading rights. At some point you have to become an RIA, but not for a few accounts. You don't need an audit or a third party admin. No one will give you funds for an LP without some protection on your accounting.