Administration of alternative investment funds including financial and tax accounting, tracking of member capital accounts, periodic reporting to fund investors and tracking and accumulation of current and historical performance results.  We maintain a full and complete set of books and records for the fund including general ledgers, portfolio accounting reports and members’ capital subsidiary ledgers.  Portfolio accounting is maintained in Advent’s portfolio accounting and management system (Axys), in most cases through direct feeds from brokers or other counterparties.

Calculate fees and performance allocations due to the fund sponsor or investment advisor. 

Provide independent authorization for fund cash movements.

Coordination of audit and tax services provided by independent auditors including monitoring and evaluating services and providing information to facilitate their timely and effective completion.  Information provided typically includes member tax allocations, financial statements prepared in accordance with generally accepted accounting principles, required schedules, confirmation assistance and answering of auditor inquiries.

Assist SEC registered funds with their periodic financial reporting requirements (10K and 10Qs, etc.)

Consultation with respect to business and fund operations and maintenance of accurate and complete books and records.

Consultation with respect to tax planning and compliance strategies for alternative investment funds and alternative investment managers.

Consultation with respect to the formation and structure of U.S. and offshore alternative investment funds.

Research and consultation with respect to compliance with SEC, CFTC and NFA regulations and rules, with emphasis on issues related to the Investment Advisers Act of 1940 and exemptions afforded under the Investment Company Act of 1940.  Assistance with regulatory audits.

Referrals to other professional services (independent auditors, attorneys, brokerage, offshore administrators, etc.)

Assistance with due diligence on contemplated investments with other alternative investment managers or contemplated private equity investments.

Consultation with respect to overall business operations, structure and opportunities.