Financial budgeting: One chance to succeed

Anchin in the NewsMay 16, 2016Published by
Anchin Partner Featured: Jeffrey I. Rosenthal, CPA, CFP, CGMA

Financial budgeting: One chance to succeed

Jeffrey I. Rosenthal, Partner-in-Charge of Anchin's Financial Services Practice talks about planning a hedge fund launch.

"It is a significant undertaking and should not be treated lightly. From a financial perspective the first thing to do is to create a budget broken down into three categories: budgeting for fund expenses, budgeting for manager expenses and finally budgeting for personal expenses," says Jeffrey I Rosenthal, CPA, Partner- in-Charge of the Financial Services Group at Anchin Block & Anchin LLP, a full-service accounting, tax and advisory firm.

With respect to budgeting for the fund, one needs to factor in the anticipated management fee and professional fees; audit, tax, legal and administration expenses. "The expenses are not radically different for a USD10m fund versus a USD100m fund but they will significantly impact the rate of return of a smaller fund," says Rosenthal. 

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