Category Archives: Uncategorized

Hedge Funds Care LA Event

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3rd Annual Los Angeles Benefit

4/30/2009 – Los Angeles

The Hedge Funds Care Los Angeles Committee cordially invites you to their 3rd Annual Benefit.

Thursday, April 30, 2009

5:00 PM

W Los Angeles
930 Hilgard Avenue
Los Angeles, CA 90024

For more information, please contact Dan Butchko at [email protected] or 212-991-9600 ext. 336.

The Invitation:

You’re Invited!

The Hedge Funds Care Lose Angeles Committee
cordially invites you to their 3rd Annual Benefit…

Good Times in Trying Times
Thursday, April 30th, 2009
The Backyard at The W Hotel, Westwood
930 Hilgard Avenue | Los Angeles 90024
5:00pm – 8:00pm
Business Attire

Join us to help support Los Angeles’ children in need.  Times are challending for many, especially for those who rely on agencies that prevent and treat child abuse.  Please open your hearts and enjoy an evening of reaching out to your peers while reaching out to the children.

Non-hoseted Valet Parking Available Onsite

* Appetizers
* Cocktails
* Silent Auction
* Raffle
* And Much More!

Los Angeles Committee 2009

Michael Smith,
Co-Chair

Michelle White,
Co-Chair

Brett Alpert
Cresta Archuletta
Erin Brodie
Conrad Gorospe
Kathleen Kenney
Mary Beth Salter
Yaela Shamburg
Steve Smith
Mason Snyder
Kristine Stromeyer
Rita Swann
Mark Trousdale

New CFTC Chairman Makes Statement

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Statement by CFTC Acting Chairman Michael V. Dunn
January 21, 2009

As I temporarily take over at the helm of the CFTC, I want to thank former Acting Chairman Walter Lukken for his leadership during a very challenging time. He faced a period where economic events demonstrated, most vividly, the perils of removing large swaths of our derivatives markets from oversight. To address these challenges, Walt did not hesitate to try new approaches. Walt also recognized the need for additional resources and, as such, he was a steadfast advocate for increased agency funding . . . funding that was—and continues to be—critical to the CFTC continuing to successfully fulfill its regulatory responsibilities. Continue reading →

Hedge Fund Pitchbook

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Using a Pitchbook to Market Your Hedge Fund

Marketing a hedge fund is one of the more difficult parts of running and managing a fund.  Many times, managers will discuss investments into a fund through a face-to-face meeting with a potential investor.  During this meeting, a manager will utilize a “pitchbook” as the central way of conveying the most important aspects of an investment in the fund.  This article will provide an overview of the most common parts of a hedge fund pitchbook.  We have also provided a sample pitchbook below. Continue reading →

Hedge Fund Taxation

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(www.hedgefundlawblog.com)

Overview of the Tax Issues Affecting Hedge Funds

One of the most important aspects of the hedge fund structure are the tax aspects as they relate to the hedge fund, the manager and the investors.  This article will detail the important tax aspects which are relevant to most hedge funds.  Please note that any of these individual tax aspects may or may not apply to certain hedge funds – for information on a particular fund’s tax attributes, refer to such fund’s private placement memorandum.  Please also note that this article is not seeking to provide any sort of tax advice to managers or hedge fund investors, please see our disclaimer for information on IRS circular 230.  [The following article deals with domestic hedge fund taxation.  We will provide another article on offshore hedge fund taxation in the future.]  Continue reading →

Commodity Hedge Fund Reminder

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CPOs Reminded to Always File Timely Reports

The following release details the CFTC sanctions against four commodity pool operators (CPOs) for failure to make timely filings with the NFA.  The CPOs failed to make filings of the respective commodity pool annual report.  This report must be provided to all pool participants (investors) and must also be filed with the NFA.  In certain circumstances the NFA will provide extensions to CPOs.  We also note that the filing requirement applies to those CPOs who run hedge fund of funds which are also commodity pools.  Continue reading →

New Mexico Hedge Fund Law

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Starting a hedge fund in New Mexico

Hedge fund managers who reside in New Mexico will be deemed to be investment advisors under New Mexico’s securities act and, unfortunately, there is no exemption available from the registration provisions of the act.  This means that before a manager establishes a fund based in New Mexico, he will need to become registered as an investment advisor.

The people at the New Mexico Securities Division are fairly knowledgable and have been very helpful in the conversations we’ve had with them.  However, they have a horrible securities division webpage.  The webpage has very little useful information save for the links to the New Mexico laws (which are hard to navigate through).  I have posted below a list of the fees which are applicable to a hedge fund manager establishing a business in New Mexico. Continue reading →

SEC Stands Behind “Fair Value” Accounting

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FASB may re-evaluate FAS 157 in light of recent market events

While the SEC does not directly control the manner in which hedge fund assets are valued for the purpose of striking a NAV for a fund, the SEC valuation policies are important for hedge funds in a number of different ways.  Maybe most important is that the SEC valuation guidelines require issuers of securities to adhere to certain valuation practices with regard to their own assets.  Recently Congress mandated the SEC reevaluate its valuation guidelines in light of the market collapse of 2008. Continue reading →

Iowa Hedge Fund Law – Starting a Hedge Fund in Iowa

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Iowa has a very good securities division which is familiar with the rules regarding hedge fund private placements.  The notice below was provided by Iowa’s securities division to inform entities engaging in private placements the specific rules applicable to Iowa.  Notice like this is invaluable to start up hedge funds as it will help the manager to know what exactly the rules are in Iowa.  As we’ve noted in other articles (Overview of Regulation D for Hedge Funds), each state will have different rules regarding Rule 506 offerings which most all hedge funds utilize.  Of great importance for hedge fund managers, the letter below discusses how non-accredited investors should be treated for the purpose of Iowa. Continue reading →

Hedge Fund Consultant Article Updated

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Just a quick note to the community that we’ve updated our post on hedge fund consultants to include a case study.  A reminder to all hedge fund service providers that we are actively seeking articles to help enhance our website.  We are particularly interested in articles on hedge fund accounting and administration including articles on FAS 157.  We are also interested in hedge fund link exchanges – please contact us to discuss.