Fund of Hedge Funds Administration

 

Strata has the ability to assist your fund in every stage of operation.

Pre-Fund Launch

  • Review of fund documents
  • Assist with audit firm selection
  • Consult with respect to fund structure setup
  • Assist with SEC registration
  • Prepare relevant tax elections

Onboarding Investors

  • Distribute and track subscription documents to potential investors including ADV Part II
  • Review submitted subscription documents
  • Perform anti money laundering (AML) checks and know your customer (KYC) reports for all new investors
  • Input investor information in investor database
  • Track and account for any investor side letters
  • Confirm receipt of subscription/redemption documents with investors
  • Maintain investor documents electronically

Estimate Reporting

  • Track intra-month estimates from underlying managers 
  • Provide manager reports based on estimates

Monthly or Quarterly Reporting

  • Reconcile cash with banks and/or prime brokers
  • Value portfolio based on underlying investee fund capital statements and performance reports
  • Maintain records for managed accounts
  • Account for any side pockets or share class
  • Prepare complex allocations and fee calculations
  • Calculate the net asset value of the fund
  • Prepare financial statements (balance sheet, income statement, general ledger, etc.)
  • Prepare and distribute investor capital statements
  • Calculate fund and investor performance
  • Assist fund manager with customized reports

Annual and Ongoing Services

  • Prepare audit work papers and GAAP financial statements and footnotes
  • Coordinate audit process
  • Prepare investor tax estimates
  • Prepare investor Schedule K-1s
  • Prepare fund federal and state tax returns
  • Maintain a register of investors
  • Assist fund with regulatory compliance
  • Monitor investor lists against AML watchlist
  • Respond to invididual investor questions or inquiries
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