What counts as a formal track record for someone starting a hedge fund? Say you've been trading your own personal account for 3 years or whatever. This is your personal account opened in your name. You did not do the paperwork to establish a formal hedge fund. Now you want to start a hedge fund. Does your personal track record count as the track record for your newly established fund? I suppose you can show your personal track record, but does your fund legally have a 3 year track record? Will institutional investors (FOFs, etc.) not consider you because technically, you don't have a track record under your fund's name? Lastly, say you want to start building a track record now but it's too costly to do the legal docs for a formal fund formation. What can you do so that your track record will count when you do establish a formal fund later on?