UMB has again partnered with FUSE Research Network‡ to issue the third edition of this report, which delivers the most comprehensive look at unlisted CEFs in the industry. The report provides insights and data on the number of unique funds and assets; top funds and firms; a market update and outlook; advisor use trends; and a manager spotlight.
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In May 2018, the AICPA’s Private Equity and Venture Capital Task Force released a working draft of an accounting and valuation guide: Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies (the “Guide”). The final publication is expected to be released in 2019 and is likely to become the “gold standard” that will be applied by investment fund valuation committees and their auditors in evaluating the fair values of portfolio companies. This article is part of a multi-part series exploring the key topics of the Guide and related implementation matters
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There are numerous factors which can degrade our performance from a psychological perspective. Today I’ll begin with three of them, and offer a few tricks I use as a fund manager to assist in neutralizing sub optimal decision making
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On June 19th, 2019, Facebook revealed a 100-page white paper, with some of the details behind its involvement in the “Libra” cryptocurrency. Some analysts were quick to state that Facebook just “reinvented money”. The purpose of this note is to summarize that detailed white paper and breakdown the risks and opportunities for the entire payment ecosystem.
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The overall climate for hedge fund seeding activity warmed considerably in 2018, as the hedge fund industry and the financial markets moved beyond the volatility of 2016 and the perception of being overheated in 2017, resulting in one of the busiest years we have observed for seeding activity in the last decade. Our data indicates that seed deal activity increased decisively year over year, with institutional seeders reasserting themselves as the dominant drivers of activity in the marketplace
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