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What is the difference between series accounting and equalization accounting?
Wiki User
∙ 11y ago
Series or Multi-Series Accounting is a procedure used by fund managers which issues multiple series of shares for their fund, not necessarily with the same NAV. Typically, a monthly dealing fund would issue a new series of shares for all investors that invested each month. The fund would therefore contain share classes XYZ Fund - Jan 2012 Series, XYZ Fund - Feb 2012 Series or sometimes called Series A, B, C and so on. This makes it very straightforward to calculate performance fees.
In Equalization Accounting all the shares of the fund have an equivalent NAV. When new shares are issued or dilution takes place a small number of new shares is assigned to current investors to maintain the value of their investment despite the drop in NAV of the individual shares.
Both approaches have benefits to certain investors
Wiki User
∙ 11y ago
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