PT  - JOURNAL ARTICLE
AU  - Fergus M Healy
AU  - Cary M. Kilvan
TI  - The Hedge Fund Manager's Guide to Equalization
DP  - 2002 Sep 21
TA  - Special Issues
PG  - 138--143
VI  - 2002
IP  - 1
4099  - https://pm-research.com/content/2002/1/138.short
4100  - https://pm-research.com/content/2002/1/138.full
AB  - A key concern for hedge fund managers globally is the calculation and apportionment of the manager's performance (or incentive) fee. This article reviews the different accounting techniques that hedge fund managers use. The authors show that without the use of certain accounting techniques such as equalization or series accounting the performance fees paid can be disproportionate to the performance turned in over a specific period of investment.