Recommended fund accounting software or service?

J

Jay77

Hello hedge fund (or other pooled investment) Managers,

I recently started my companies first hedge fund, and will be opening the fund to external shareholders shortly. I need to transition our accounting practices from investing only for family, to investing for multiple shareholders. What fund accounting software or services would you recommend for this purpose?

I imagine the solution should be able to do the expected minimum basic stuff: Track client accounts with number of held shares per client, record client buy and sell transactions, and do NAV and HWM fee calculations. Any other features such as tax capabilities or generating performance reports would be a "bonus". I could use a cloud hosted solution, or I would also consider a locally installed fund accounting program.

I know the basics of hedge accounting concepts and could implement the needed minimal recordkeeping using spreadsheet software. However, I imagine a purpose-built accounting software or service could make the job easier and less error-prone.

Thank you in advance for the names of any software or services that you might recommend.
-Jay77
 
Jay77 said:
Hello hedge fund (or other pooled investment) Managers,

I recently started my companies first hedge fund, and will be opening the fund to external shareholders shortly. I need to transition our accounting practices from investing only for family, to investing for multiple shareholders. What fund accounting software or services would you recommend for this purpose?

I imagine the solution should be able to do the expected minimum basic stuff: Track client accounts with number of held shares per client, record client buy and sell transactions, and do NAV and HWM fee calculations. Any other features such as tax capabilities or generating performance reports would be a "bonus". I could use a cloud hosted solution, or I would also consider a locally installed fund accounting program.

I know the basics of hedge accounting concepts and could implement the needed minimal recordkeeping using spreadsheet software. However, I imagine a purpose-built accounting software or service could make the job easier and less error-prone.

Thank you in advance for the names of any software or services that you might recommend.
-Jay77
More...
I would highly advice you to use an external administrator, it won't cost you that much, they will take care of all NAV, subscriptions, redemptions etc... and people will trust you much more.
 
You don't specify what instruments you trade, but NAV Consulting is popular these days with CTAs.

In any case, choice of admin is a different question from choice of accounting software. You'll want to mirror your admin's calculations.
 
> truetype said: You don't specify what instruments you trade,

I trade ETFs almost exclusively. Things like SPY, QQQ, IEF, etc.
 
Jay77 said:
Hello hedge fund (or other pooled investment) Managers,

I recently started my companies first hedge fund, and will be opening the fund to external shareholders shortly. I need to transition our accounting practices from investing only for family, to investing for multiple shareholders. What fund accounting software or services would you recommend for this purpose?

I imagine the solution should be able to do the expected minimum basic stuff: Track client accounts with number of held shares per client, record client buy and sell transactions, and do NAV and HWM fee calculations. Any other features such as tax capabilities or generating performance reports would be a "bonus". I could use a cloud hosted solution, or I would also consider a locally installed fund accounting program.

I know the basics of hedge accounting concepts and could implement the needed minimal recordkeeping using spreadsheet software. However, I imagine a purpose-built accounting software or service could make the job easier and less error-prone.

Thank you in advance for the names of any software or services that you might recommend.
-Jay77
More...

E&Y.
 
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