Hedge and Commodity Funds

Spicer Jeffries LLP provides professional services to over 700 hedge and commodity funds. These funds range in size from under $1 million to over $3 billion in net assets and are located throughout the United States and various offshore jurisdictions. These funds include single and multiple trader arrangements as well as complex capital structures including master-feeder funds and fund-of-fund entities. Spicer Jeffries LLP conducts audits in the Cayman Islands through our Cayman firm, Spicer Jeffries (Cayman). In addition, we are an approved auditor for the Bahamas and the British Virgin Islands.

From emerging funds to seasoned multi-billion dollar funds, Spicer Jeffries has the extensive experience required to provide superior services for your funds' needs. Spicer Jeffries provides clients with tax, regulatory, and various other consulting services unique to their fund, on a continual basis throughout the fiscal year.

Audit Services

The firm's extensive experience and trained personnel allow Spicer Jeffries to conduct audits very efficiently and cost effectively. We demand the highest level of work ethic and pride ourselves in maintaining significant personal contact with our clients and staff throughout the audit process.  Spicer’s auditing services include:

  • Audits in accordance with generally accepted accounting principles and in the case of commodity pools, CFTC and NFA guidelines
  • Client Service Team comprised of Partner, Manager, Audit Supervisor, Tax Supervisor, and Staff Accountant
  • Auditing of net asset value and individual partners' capital accounts
  • Examinations and reviews of historical performance records in accordance with Global Investment Performance Standards (GIPS) and Commodity Futures Trading Commission (CFTC) standards

Tax Services

The tax professionals of Spicer Jeffries LLP have significant experience in securities taxation and related complex issues. In connection therewith we provide:

  • Tax analysis for trading strategies to ensure optimum tax benefits, including trader vs. investor planning
  • Customized tax reporting package furnished to partners on a timely basis
  • Preparation of federal, state, and local income tax returns for funds, fund managers, and related entities
  • Tax planning and consulting
  • Preparation of Passive Foreign Investment Company annual information statements and related shareholder allocations
  • Analyzing when the mark-to-market elections are appropriate for your fund (IRC Section 475(f) election)
  • Organizational structuring including fund and general partner structure

As Spicer Jeffries LLP has a strong understanding of your business; we can offer you ideas and implement the necessary planning that may result in significant tax savings.  Some areas of tax savings include individual tax planning, personal financial planning, estate tax planning, and exit planning.

Emerging Fund Services

Our professionals work diligently with our clients and their attorneys to determine the most tax advantageous structure for the hedge fund and its managers. We have extensive experience working with funds of all capital structures, from domestic feeders to fund of funds.  In addition, we work with clients to provide assistance with the language contained in the private offering memorandum and limited partnership agreements or LLC operating agreements.  Spicer will also advise clients on General Partner allocations as well as expense reimbursements. Additionally, should the fund be in need of an attorney, we can introduce you to one of several attorneys specializing in the hedge fund and commodity pool arena.

We recognize that all funds do not have their own internal accounting staff to provide the necessary accounting records. In these instances we can refer you to boutique administrative firms.  Spicer will help you find an administrative firm that delivers a monthly accounting package, including customized financial statements and performance tables, all in a timely fashion.

Spicer Jeffries also assists our hedge fund clients by introducing them to a broker-dealer offering a prime brokerage arrangement to facilitate the clearance, settlement and custody of securities. We understand how important it is to be able to clear transactions quickly and effectively while still maintaining cost efficiency.  Because of our many years of experience working with numerous broker-dealers of all shapes and sizes, we are able to introduce an appropriate broker-dealer based on your fund’s volume and trading strategy. 

Offshore Services

Should you be interested in going offshore for a new fund, we can introduce you to entities within our securities industry network that specialize in this arena and will assist you with legal start-up and administration.

 


 

If you would you like to speak with someone at Spicer Jeffries regarding our hedge and commodity fund services, please contact us directly at (303) 753-1959 or by email:

Bob Yurglich
(303) 515-5300
ryurglich@spicerjeffries.com
 
Sean Tafaro
(303) 515-5302