For hedge fund managers which are establishing a hedge fund for the first time, it is often easier to understand the dynamics between the different entities through an organizational chart.  This is especially true for an offshore master feeder hedge fund which has more moving parts and also has (generally) a different fee structure based on the characteristics of the hedge fund manager’s trading program and the expected tax attributes of the underlying investments.  Additionally, the tax residence of the offshore investors must be considered in many circumstances. Continue reading →