Legal Services

All funds and trusts have their respective legal services department. The legal development process normally begins with a planning consultation. This is when important issues ( e.g., investment adviser registration, location of the hedge fund and its management, reliance on safe harbors and exemptions, etc.) are addressed and resolved. A good legal consultation will expose areas (outside the legal process) that need further planning. Once the course is charted, the legal development process begins. The fund and management company entities are first formed in their appropriate jurisdictions. This enables the fund manager to begin the process of opening bank and brokerage accounts and preparing for the administrative needs of the fund. After the entities are formed, the legal team gathers the necessary information to form the operating agreements for the entities and then the offering documents, first in draft stage and then finalized for distribution to prospective investors. 

While in reality, many funds decide to use external legal services, it's still important that the fund managers and officers understand the legal processes as part of a holistic education. For this reason, this page charters the legal services division of the Fenghunag Trust in which our credentials and ongoing legitimacy try to mimic non-virtual funds. To follow both administrative duty and fiduciary duty, these are the specific topics we will measure our fund with:
Fiduciary Audit

The specific documents developed from the legal services benchmarking division will be posted here. The majority of these are taken from an older fund managerial study book. This division will continue to adapt its documents according to the trends and client processes.