Download
1 / 15

Pool Financial Reporting Part 3 - Spectrum - PowerPoint PPT Presentation


  • 464 Views
  • Uploaded on

Managed Futures Industry Trends Enhanced investor control via Managed Accounts Investors moving capital from traditional Fund of Hedge Funds and into managed accounts or managed account platforms

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Pool Financial Reporting Part 3 - Spectrum' - Faraday


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
Managed futures industry trends l.jpg
Managed Futures Industry Trends

  • Enhanced investor control via Managed Accounts

  • Investors moving capital from traditional Fund of Hedge Funds and into managed accounts or managed account platforms

  • Increased liquidity terms within funds – move from quarterly/monthly to semi-monthly/weekly/on demand

  • Daily/Monthly portfolio transparency reporting to fund investors

  • Independent daily reconciliation & 3rd party valuation

  • Multiple FCM’s

  • Multi-Tiered fees & additional investor level fees beyond management & performance

  • Enhanced investor due diligence including on-site visits


Managed account platform l.jpg
Managed Account Platform

  • Large investors pushing managed account platforms towards their operational mandates:

    Service providers:

    • FCM

    • Auditor

    • Administrator

    • Bank

      Compliance/Controls/Etc:

    • Independent Reconciliation/Valuation

    • Cash Controls

    • Liquidity terms

    • Fee terms

    • Reporting requirements

    • Risk Management


Enhanced reporting l.jpg
Enhanced Reporting

  • Aggregation of portfolio data for investors and managers/sponsors

    • Across investor’s managed accounts

    • Across investor’s pro-rata portion of Fund/MAP investments

      ***Fund/MAP may invest in many CTA’s via managed accounts

  • Segmentation, sorting & subtotaling of portfolio data for analysis:

    • Strategy, CTA, FCM, Investment type, Currency, etc…

  • Daily Investor NAV estimates by CTA & consolidated across CTA’s

  • Daily ROR – CTA, across CTA’s, Class, Investor



Daily p l report master fund feeder transparency l.jpg
Daily P&L Report - Master Fund(Feeder Transparency)


Daily p l report master fund feeder transparency with investor segmentation l.jpg
Daily P&L Report - Master Fund (Feeder Transparency with Investor Segmentation)


Daily p l report master fund investor transparency tom mcgregor l.jpg
Daily P&L Report - Master Fund(Investor Transparency – Tom McGregor)



Investor transparency tom mcgregor sector agriculture investment l.jpg
Investor Transparency – Tom McGregorSector (Agriculture) / Investment


Tom mcgregor daily mtd investor statement net of fees l.jpg
Tom McGregorDaily & MTD Investor Statement (Net of Fees)


Nfa rule 2 46 l.jpg
NFA Rule 2-46

  • CPO Quarterly Reporting Requirements – How can your administrator help?

    • Most reporting requirements should be part of your administrators standard reporting package

      • Calculate NAV

      • Calculate R.O.R.

      • Prepare the Schedule of Investments

  • Schedule of Investments

    • Administrator tracking of all trade activity allows for roll-up of data


Daily reconciliation l.jpg
Daily Reconciliation

  • Administrator receives trades directly from each CTA

  • Administrator receives nightly feeds from each FCM

  • Administrator receives pricing directly from third party sources

  • T -> Flash reports - Positions and P&L 

  • T+1-> Reconciled reports – Positions and P&L Positions


Summary l.jpg
Summary

  • Trend Toward Managed Account Structures

  • Increased Investor Control / Due Diligence

  • Increased Frequency of Liquidity

  • Enhanced Investor Reporting - Frequency & Transparency


Spectrum global fund administration l.jpg
Spectrum Global Fund Administration

  • Full Service Daily – Oriented Fund Administration

  • US & Cayman – Funds, Managed Accounts, FoF’s

  • Flexible Technology To Handle Multiple Structures, Products, Complex Fees

  • 45% Of Business Is CTA Related

  • 75% Is Daily Reconciliation & Reporting Oriented

  • Daily Transparency Reporting, NAV Estimate’s And Returns

  • Integrated and Flexible Internal System - VBO

  • Facilitate on-demand Liquidity

  • Facilitate Independent Valuation

  • SAS 70


ad