Beyond traditional administration services, Stone Coast offers "Administrator Oversight " services to hedge fund managers, and also offers on-site consulting and accounting services to institutions and money managers implementing back office systems or facing internal accounting and staffing challenges.  Our highly experienced portfolio and partnership accountants can lead or support accounting projects from your office or remotely, on your systems.


Systems Implementation and Accounting Support

Stone Coast specializes in implementations of Advent's Geneva portfolio accounting platform and Partner investor accounting platform.  Working independently or coordinating with your staff, Stone Coast provides overall project management, sets up your funds and accounts, converts all data to your new platform, reconciles to external sources, and brings your accounting current.  Stone Coast also can train your users and develop or fine-tune your operational procedures and controls suitable to your new environment.  After an implementation is complete, Stone Coast offers ongoing staffing, either onsite or working remotely, as may be needed to supplement your staffing.

For implementations with significant technology aspects, Stone Coast partners with G2 Systems LLC, a premier consultant for hedge funds’ technology needs.  G2 specializes in systems implementations and integrations, data warehousing and the custom programming necessary thereto.

Other consulting projects may include creating financial statements, remediating poor accounting, catching up (or reprocessing) past months, or shoring up home-grown accounting systems.  We also can help to resolve significant reconciling differences between funds and prime brokers, which often benefit from the involvement of a third party.

Our consulting staff are experienced users of prevalent hedge fund accounting systems, including Advent’s Geneva, Sungard’s Invest One, SS&C’s Total Return and PFS’ Paxus.


Administrator Oversight 

When a fund is large or complex enough that potential accounting errors amount to a major business risk, Stone Coast can oversee the performance of other third-party administrators. Stone Coast’s administration expertise leaves us perfectly situated to efficiently review your administrator’s reporting packages, or even to shadow the accounting for high-risk items like incentive fees, management fees and investor allocations. We work collaboratively with your administrator to ensure that its practices are competent and its results accurate, thereby helping to ensure that year-end audits are smooth and that potentially costly embarrassments are avoided. This extra layer of assurance can be invaluable as potential institutional investors scrutinize your fund and its operation. Senior staff will conduct the following reviews:

    Balance Sheet Review

      • Interest and Dividend Accruals
      • Foreign and NRA tax withholding
      • Securities Lending
      • Expense Schedules and Accruals
      • Long/Short holdings and accruals
      • Cash
      • Due to/from broker
      • Prepaid contributions and holdbacks
      • Management fee calculations, accruals and payments
      • Other assets and liabilities

    Income Statement Review

      • Interest and Dividend postings
      • Realized gain/loss due to price and FX
      • Changes in unrealized gains and losses
      • Management fees
      • Professional fees
      • Other income and expense postings

    Administrator Oversight also can include:

      • Independent portfolio pricing reconciled to administrator and brokers
      • Reviewing and verifying subscriptions and redemptions
      • Reviewing and verifying management and incentive fee calculations
      • Mirroring and verifying investor allocations