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HedgeTek is now deployed by many of the world’s leading administrators,
accounting firms, and fund managers, responsible for over 1200 funds with over $300 Bln in assets
under management.
HedgeTek was developed to service the economic and tax allocation requirements for
investor level accounting in investment partnerships such as hedge funds. The software
allocates ordinary income, expense, unrecognized and recognized gains losses to Partners
at designated intervals or at the time of capital actions.
HedgeTek can be set up with multiple income and expense classes for different
investors (e.g. general and limited partners), whose rights may vary with respect to the
amount, timing, character or origin of those items (e.g., specific types of income may
belong only to certain classes of investors). The system also has the ability to support
tiered partnerships, as with master feeder and fund of funds structures.
A comprehensive audit trail report tracks any changes to P&L, capital actions, or indicative
data related to fund, investor or management company structures.
The current release supports three allocation
methodologies:
- Full Netting
- Partial Netting
- Book Only Method
Both Full and Partial Netting support the following processes:
- Break period allocation
- Annual aggregation using weighted average capital
- Tax adjustments - importing allocation details calculated
elsewhere, to perform necessary tax adjustments and then
generate Schedule K-1's.
HedgeTek will support financial processing at multiple stages. It can process the P&L
received from the fund accounting engine, it can process the tax side of partner
financials when periodic book allocations have been performed by a third party and
finally it can support tax adjustments and K-1 processing when book and tax partner
allocations have been received from a third party.
HedgeTek has been designed with an open, scalable, architecture, which
can easily interface with any portfolio/fund accounting system. Several interfaces
are currently in place with commonly used third party fund accounting platforms.
HedgeTek also provides a fully functional user interface, where fund level data
income, expense and gain/loss) as well as any necessary data adjustments (from current
or prior periods), can be manually entered if so desired.
Once accounting and transfer agency data is received/entered, HedgeTek, following
user defined rule structures previously established for the partnership or individual
investors, will automatically allocate the income, expense, and gains and losses to all
participating partners. This data can be used to create K-1's, when tax record keeping is required.
HedgeTek maintains powerful interface tools used to import, map, and validate the
necessary data to complete the full allocation process. The HedgeTek Interface Engine will
be used for importing:
- General Ledger P&L from upstream accounting and portfolio systems.
- Customer indicative data from other sources, to be used in reporting
and relationship management functions.
- Capital actions including all subscriptions and redemptions, contributions
and withdrawals.
HedgeTek's Global import engine can be used to map, and import, financial data
received in any spreadsheet format (i.e. Excel).
Also available is electronic statement distribution that allows investors to access their monthly statements
electronically via a secured connection over the Internet. All statements can be printed or downloaded.
Visit our HedgeTek Flash Site Click Here
For more information please call or email:
Barry Mermelstein (212) 292-5696 bmermelstein@fi-tek.com
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