The Fund of Funds accounting is similar and simpler than hedge fund accounting in parts and in parts is different and more complex. The FoF typically does reporting on a quarterly basis to it's investors. Fund of Funds portfolio accounting is based on the underlying fund managers' reports which they send to the FoF on a monthly or quarterly basis. If an investee fund does reporting on a quarterly basis to it's investors and/or sending out those statements with certain delays and the FoF does reporting on monthly basis for example, then the FoFs has to get estimated return from the investee funds and/or get look-through reports from them on a monthly basis.

FundCount accounting system has the necessary functionality to deal with Fund of Funds accounting and to make it straightforward and an automated task. Furthermore due to it's integrated architecture FundCount eliminates the need to do entries or data reconciliations several times between different system modules - as they all have been originally developed based on one integrated platform.

Key advantages of FundCount over it's competitors:

• Integrated Reporting, General ledger (Dr/Cr), Partnership (shareholder) and Portfolio accounting - everything in one place.
• Real time reporting (HTML, PDF, Excel) on fund, portfolio and investor level, including analytical and accounting reports, can satisfy the needs of fund managers, administrators and clients.
• Automated Master-Feeder fund structures with support for multi-currency share classes of investors.
• Calculation and charging of management and incentive fees using client-defined scenarios (hurdle rates, high watermarks, multi-tier, etc).
• Investment instruments such as as Forwards, Swaps, Options, Spot FX, Futures, Bonds, Stocks and others can be tracked in the system on tax lot basis.
• Fundcount supports Hot Issue securities allocations
• Application Program Interface (API) for easy integration with 3-rd party software systems - coming out soon.