Master funds – design and features

A master fund is subdivided into individual segments for accounting purposes. Each segment (subfund) has:


- Its own accounting and valuation system
- An independent profit and loss account (including fees accrued)
- Separate performance measurement
- Its own asset management (advisory or outsourcing mandates)
- Its own reporting

Each valuation of the segments automatically leads to a “consolidated” valuation of the master fund, whose share price is relevant for the investor’s accounts.