Hi, guys I plan to use ONLY my own money to develop a trade record. My understanding is that opening an indivual account at IB cannot get the return audited. Correct me if I am wrong. I plan to set up a hedge fund. Because its my own money, there is no performance fee or incentive bonus payment. My understaing is that the nvestment manager/advisor is purely for the fee payment pursose. So to keep everything simple and cheap, I will only set up the fund, open IB account using the fund name and wire the capital to IB account. I will not even open a bank account for the fund. My question is 1. Is it feasible? 2. Can the return be audited? Thank you very much.
Do you mean without creating the hedge fund and just give auditor the access to my individual IB account? Thank you
I'm not clear why you want/need to set up a "hedge fund". If you want to create a track record using personal funds only just hire an auditor and have them go through your statements. Ideally, you should find an auditor you might want to use and ask them beforehand what their requirements are.
Without a reputable third party administrator, an audit is a wSte of Money and time. This is due to the ease of faking statements and many other reasons An auditor only audits what you provide.... There's zero value to any real hedge fund investor.
Couldn't you use Covestor.com or simular site to link your account for a track record? If I wanted to have a track record so others could verify my skill set, I think this would be easiest and show me as credible.