Fund Administration

In 2007 the Hedge Fund Group started developing a professional training and certification program for professionals who work with hedge funds. This project began after realizing that all other programs were designed for risk or analyst professionals and none of these fit the learning objectives we had sought.

In 2008 we opened the doors to our hedge fund training and certification program for the first time, we had just under 100 participants. In 2009 so far we have had over 385 participants join the Certified Hedge Fund Professional (CHP) Program, and we expect to close down registration to new members as we reach the 400th new member this month.

Many hedge fund managers have heard about our program and even participated in it, but delivering a clear message about our objectives, structure and team to an industry of over 150,000 professionals can be a challenge. Below is a short summary of the CHP Designation, what participants learn, and how it is being improved:

Mission: The mission of the CHP Designation is to grow our globally recognized training and certification program into the trusted #1 source of educational for hedge fund professionals.

Structure: The CHP Program is split into two levels, much like an M.B.A. program. Level 1 of the CHP program lets you learn about hedge fund fundamentals and basics while Level 2 allows you to specialize within one area of their choice, including Portfolio Analytics, Marketing & Sales or Due Diligence.

Delivery: Participants complete the program by reading the required books, watching our premium video content available through HedgeFundPremium.com (free to CHP members), and using our CHP Study Guide. Participants may also contact our team for career advice, resume editing or networking advice.

Limitations: The CHP Program does not substitute for any licensing or legal registration requirements. The program is limited to an exclusive set of 200 professionals during each of the two sessions which are held each year.

We have spent over 2,000 hours working on this program, improving it, incorporating feedback and adding video content. If you have any feedback as a potential, current or past participant please email us directly at Team@HedgeFundCertification.com.

To learn more please see http://HedgeFundCertification.com

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This is a recent update on the some of the new positions taken by the Berkshire Hathaway Inc. Buffett has increased his stake in Health care and pharma sector at the same time reduced exposure by selling some of his holdings in the energy sector.

Billionaire investor Warren Buffett’s Berkshire Hathaway Inc. took a stake in Becton Dickinson & Co., the seller of syringes and laboratory equipment, in the second quarter as shares gained.

Buffett, who is Berkshire’s chairman and chief executive officer, last week disclosed the sale of some of Berkshire’s ConocoPhillips shares in the quarter, and said the firm had divested an undisclosed number since June 30. Berkshire said today that the size of the stake had fallen 9.5 percent in the quarter. Buffett’s firm remains the oil producer’s second- largest shareholder, according to Bloomberg data.

Berkshire had also previously disclosed the sale of its stake in Constellation Energy Group Inc. Berkshire’s MidAmerican Energy Holdings Co. acquired the shares last year as part of a termination package when Constellation broke an agreement to sell itself to Buffett’s firm for $4.7 billion.

To read more click here.To read more about the tracker profile of Berkshire Hathaway Inc please click here

The markets are in recovering mode and here is the statistics about how the various hedge fund investment strategies have performed in the last few months. The recent galloping in the equity markets and better corporate earnings has certainly had positive impact on the hedge funds performance.

Long-only hedge fund strategies posted the best returns of the asset class in July as global stock markets continued their upward trend, according to data in a report published by Lipper Global on Tuesday. As the industry looks to repair itself following last year’s heavy losses and record redemptions, these new figures will give more ammunition to market watchers who claim that the industry is on the road to recovery.

The data from the Thomson Reuters company showed that long-only hedge funds posting a 4.75 percent return for the month, building on gains of 14.34 percent for the year-to-date.

According to the recent reports released ahead of Lipper’s monthly Hedge Fund Insight Report, which is due at the end of August, showed that all hedge fund strategies posted a positive performance last month, with long/short equity and multi strategies both giving returns of 0.81 percent. Short bias strategies made a 0.40 percent return, boosted by profitable short sale strategies in the first half of the month, Lipper data showed.

The market is already looking for the next macro catalyst to drive market direction; there are a still a number of risks of market correction. The other hedge fund strategies which performed well were, options arbitrage performed strongly in July, with returns of 0.88 percent. Event-driven was the worst-performer, posting a 0.19 percent return.

We have scheduled 4 networking events for this fall and winter, these are events being put on by the Hedge Fund Group, and they are open to everyone who is a member of Hedge Fund Premium which opens for registration on August 10th, 2009.

At each networking event there will be 20-40 minutes of educational speeches on capital raising and hedge fund operations and then drinks and appetizers for a few hours worth of networking with local professionals. In the past we have had at least 100 participants at each of these events.

Networking Events Schedule:

• Chicago: 9.3.09
• Boston: 10.29.09
• New York: 11.2.09
• Dallas: 12.3.09

For locations of each event please see the Networking Events area within Hedge Fund Premium.

Hedge Fund Premium is an exclusive version of the Hedge Fund Group providing valuable tools related to hedge funds. Our mission is to provide premium networking events, videos and resources within a constantly updated platform which allows us to provides consistent value to our members.m Registration for Hedge Fund Premium opens on August 10th, 2009. Learn more at www.HedgeFundPremium.com.

Tags: hedge fund networking events, hedge fund association, hedge fund premium, hedge funds, hedge fund, alternative investment association, hedge fund conference, conferences

While we were looking into fund administartors who are providing outsourcing solutions we came across BGT Consulting LLC Fund administration who provide solutions to alternative investment vehicles.

BGT Fund Administration provides outsourcing solutions to alternative investment vehicles, including:

• Hedge Funds (Onshore, Offshore, Master/Feeder Structures)
• Fund of Funds
• Private Equity Funds
• Investment Advisers and Management Companies

FUND ADMINISTRATION SERVICES

Services provided by BGT Fund Administration to our Hedge Fund clients include:

• Fund Accounting/NAV Calculation - calculation of Fund’s Net Asset Value (NAV) and preparation of Fund’s monthly Balance Sheet, Income Statement and Statement of Changes in Investors’ Equity.  At the end of each accounting period we collect the information from your prime brokers and reconcile all the reports, making adjustments for the accruals in accordance with US GAAP. We then calculate the management fees, loss carry-forwards and performance allocation in accordance with the Fund’s Limited Partnership Agreement and other governing documents and proceed to the next step - Partner Allocations.
• Partner Allocations - allocation of Fund’s income to investors, calculations of investor’s capital balances after management fees and performance allocation, and preparation of monthly Statements of Changes in Partner’s Equity aka Partners’ Letters.
• Year End Services - preparation of complete set of financial statements including Condensed Schedule of Investments and Statement of Cash Flows, footnotes and Financial Highlights for Fund’s auditors. We work directly with the Fund’s auditors and tax preparers to assure timely delivery of the year end audit and K-1s.
• Web Based Reporting - on-line access to monthly or quarterly reports through our secure website.  We may also post Fund’s audited financial statements, tax returns, PPM and other related files on the website to give you one central location to keep Fund’s financial information.

Many times we work with our clients from the inception, helping them with the initial set up, answering any accounting related questions, reviewing permanent documents and working with the legal council and prime brokers.  We are always available to our clients and we encourage our clients to ask us questions and use us as a valuable resource.

CONSULTING SERVICES

BGT Fund Administration also provides accounting consulting services to:

Management Companies and Investment Advisers of Hedge Funds

Family Offices

High Net Worth Individuals

Closely Held Businesses

We can assist you on either temporary or on-going basis. Due to the size of our firm, our clients receive incomparable, personalized, quality service.

We offer wide variety of consulting services, including:

• Help with various accounting and performance projects
• Set up of accounting system within the company
• “Clean up” of your internal books for audit and/or tax work
• Special projects

Click here to learn more about their offerings

The article comments on the recent trend over the last couple years that hedge funds have moved into more complex mid- and back-office operations. This trend has occurred because funds have to keep up with the increasingly complex instruments and technologies competitors are using, as well as the recent burden of new corporate regulations along with Sarbanes-Oxley. This increased complexity in hedge fund administration has led to an up tic in outsourcing fund services.

Hedge funds see this out-sourcing of mid- and back- office duties to fund administrators as a way to keep focusing on the fund’s investment strategy, leaving the hassle to fund administrators. The article then accounts CitiGroup and JP Morgan’s move toward bolstering fund administration services as a way to capitalize on the growing out-sourcing. Some investors may also be comforted by the idea of a major firm like JP Morgan or Citi servicing their fund, the article suggests.

Source: Finance Tech