Administration & Accounting

Administration & Accounting 2018-06-05T14:33:35+00:00

Gemini offers comprehensive fund administration and accounting services for hedge funds, coupled with a consultative approach to help bring new fund products to market.

Gemini can calculate your fund’s NAV on a daily, weekly, or monthly basis, depending on your preference and investor demands. We also provide daily services that include trade capture and daily pricing and reporting, and monthly services such as profit/loss allocation and investor reporting. We work directly with your fund’s auditors to complete your year-end audit in a timely manner and create and distribute your auditor-approved financial statements to investors. By outsourcing your hedge fund administration to Gemini, you’ll receive integration with prime brokers and custodians, as well as access to pricing data sources to obtain independent asset mark-to-market prices. We also handle verification responsibilities for your fund, such as anti-money laundering checks on all investors, reconciliation of cash and tradition positions with prime brokers, and independent pricing of all assets to ensure accuracy.

Through Gemini, you’re getting full access to an experienced team focused exclusively on the required processes and procedures for your fund. This independent oversight instills confidence in your investors that checks and balances are in place to help safeguard the integrity and security of their data and assets. They know that you can focus entirely on managing their money instead of administrative tasks. Third party marketers also expect to see this oversight for any fund they represent; thus, self-administration can hamper fund distribution opportunities.

Outsourced administration improves your ability to grow, as Gemini has the capacity to handle the extra responsibilities that come with additional assets or funds. It also minimizes multi-prime broker complexity. Using multiple prime brokers to minimize counterparty risk and satisfy investor due diligence requirements can fragment your fund’s assets and trading venues, whereas our reconciliation across all prime brokers minimizes errors.

Gemini is also SSAE18 Type II certified for our alternative fund accounting and administration operations. Gemini undergoes this time-consuming certification process with an independent auditor as part of our commitment to providing high quality services to our clients and to demonstrate that we have been thoroughly reviewed and deemed to have effective controls and safeguards in place for fund administration and accounting services. Additionally, Gemini has resources and teams dedicated to cybersecurity, disaster recovery, and processing redundancy, ensuring that fund servicing continues even if power or systems fail.

Gemini’s extensive experience serving fund managers, investment advisors, trading managers, banks, and other fund intermediaries in a multitude of capacities gives us a well-rounded perspective to provide a fully customized and comprehensive hedge fund administration solution.

Fund Accounting Services

  • Maintenance of fund books and records

  • Daily capture and reconciliation of trades, positions, and money movements

  • Daily pricing of portfolio via independent pricing feeds

  • Daily trade break reporting and break management

  • Daily portfolio flash reports on “T” and reconciled reports on “T+1”

  • Daily, weekly, and monthly NAV calculations

  • Calculation of asset-based, management, and incentive fees

  • Trade capture, independent pricing and portfolio reconciliation on a daily basis

  • Annual fund audit support

  • GAAP audited financial statement and footnote preparation

  • Month-end portfolio maintenance, independent pricing, and independent reconciliation of manager trade recap to broker data

  • Month-end reconciliation of cash activity, expense verification, and general ledger accounting

  • Month-end economic allocation of profit and loss, expenses, and calculation of fees

We also provide comprehensive accounting services tailored to the unique needs of fund of hedge funds.

Gemini makes onboarding your fund as seamless as possible, and our dedicated team is available at any time to answer questions or talk through ideas. Additionally, we will conduct regular calls with your staff to keep you continually informed of the onboarding progress so you know the status of all tasks at all times.

We are committed to being an engaged partner that satisfies your investors, meets regulatory operational accuracy and timeliness requirements, and rises to the challenges of a continually changing financial landscape. We tailor our offerings to your business from start to finish, striving to provide best-in-class service to your fund and investors.