![]() Consolidated statements are only a matter of presentation. The income statement may have a top section that shows income and expenses at the top level, then a second section showing the same data picked up from the underlying entities. There is more than one way to approach this. For a fund with a master-feeder structure there will need to be some type of consolidated reporting. This is the standard documents package presenting the essential information about the disposition of your fund. Any relevant disclosures and information on non-cash activities are also provided here. Any irregularities or perceived inconsistencies in account methodologies are explained in footnotes. Investments meeting minimum size thresholds in relation to the fund’s total net value are presented separately.įootnotes to the financial statements are additional information that explain how management arrived at the figures on the financial statement.
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