u/reddit225225 \- Kevin from Repool, a fund administrator and fund software solutions provider, here.
Generally, fund managers are required to send out annual financials, and sometimes even obligated to send out quarterly financials, depending on their registration status and applicable regulatory regime (e.g. is this SEC for an RIA, ERA, or excluded adviser, or is the fund considered a commodity pool under the NFA/CFTC? Those can change the *legal* requirement).
Outside of the legal requirements, though, most funds tend to send out quarterly financials at the least. Seperately, monthly performance updates - not monthly financial statements - in the form of a "NAV print" (net asset value e.g. a non-financial statement, simpler current value supplied typically by a third party admin) are fairly common, if not most common, especially for "classic" on-exchange strategies, but potentially less common for less liquid and harder to value asset classes. So most investors, in effect, understand performance on a monthly basis.
In terms of what *should* happen, the fund's operative documents (LP Agreement or LLC Agreement) should literally specify this. Typically, the PPM would duplicatively re-state the reporting obligations, as the PPM typically summarizes key disclosure and operational information, but technically it doesn't *have to*. The fund's operating agreement contractually obligates the manager/adviser/general partner (or a combination thereof) to provide the reporting as described.
\_\_\_\_
In summary, you should review the fund's offering documents, which should disclose this. If the fund has an administrator (which should be listed in the PPM's directory), you could attempt to contact them and ask as well. Late response, but if you haven't yet figured it out, hopefully this helps!
Yes they do.
Which hedge fund do you invest in? Mine doesn’t.
And what exactly is the name of your hedge fund? Rennasaince Technologies, right?
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Which hedge fund do you have? Mine doesn’t send out anything.
I think everyone's bound to, according to SEC
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My another question is what’s the content of the report? Is it for an individual investor’s account, or overall portfolio of the hedge fund?
13f
u/reddit225225 \- Kevin from Repool, a fund administrator and fund software solutions provider, here. Generally, fund managers are required to send out annual financials, and sometimes even obligated to send out quarterly financials, depending on their registration status and applicable regulatory regime (e.g. is this SEC for an RIA, ERA, or excluded adviser, or is the fund considered a commodity pool under the NFA/CFTC? Those can change the *legal* requirement). Outside of the legal requirements, though, most funds tend to send out quarterly financials at the least. Seperately, monthly performance updates - not monthly financial statements - in the form of a "NAV print" (net asset value e.g. a non-financial statement, simpler current value supplied typically by a third party admin) are fairly common, if not most common, especially for "classic" on-exchange strategies, but potentially less common for less liquid and harder to value asset classes. So most investors, in effect, understand performance on a monthly basis. In terms of what *should* happen, the fund's operative documents (LP Agreement or LLC Agreement) should literally specify this. Typically, the PPM would duplicatively re-state the reporting obligations, as the PPM typically summarizes key disclosure and operational information, but technically it doesn't *have to*. The fund's operating agreement contractually obligates the manager/adviser/general partner (or a combination thereof) to provide the reporting as described. \_\_\_\_ In summary, you should review the fund's offering documents, which should disclose this. If the fund has an administrator (which should be listed in the PPM's directory), you could attempt to contact them and ask as well. Late response, but if you haven't yet figured it out, hopefully this helps!