Fund Structures And Capital Flows

Fund Structures and Capital Flows terms covering fund structures, portfolio tools, indexes, investment strategies, return measures, and account mechanics.

Fund Structures And Capital Flows terms describe how fund structures, capital flows, gates, feeders, fund-of-funds arrangements, switching, and turnover affect investors.

Use this branch when operating mechanics alter liquidity, fees, tax drag, redemption rights, manager flexibility, or cash-flow timing.

Key Terms in This Branch

TermUse it for
Capital CallHow a private fund requests committed capital, calculates investor allocations, and records the resulting contribution.
Distribution WaterfallThe sequence for returning capital and allocating preferred return, catch-up, carried interest, and residual fund proceeds.
Feeder FundA fund structure, capital-flow, gate, feeder, switching, turnover, or liquidity-management term.
Fund of FundsA fund structure, capital-flow, gate, feeder, switching, turnover, or liquidity-management term.
Gate ProvisionA fund structure, capital-flow, gate, feeder, switching, turnover, or liquidity-management term.
Master-Feeder StructureA fund structure, capital-flow, gate, feeder, switching, turnover, or liquidity-management term.

What to Check

Check capital-call terms, redemption gates, feeder or master-feeder links, fund-of-funds layering, turnover, switching rules, cash-flow waterfall, and liquidity management tools.

Common Mistakes

  • Ignoring gates, lockups, capital calls, and fund-flow timing.
  • Counting fund-of-funds diversification without checking layered fees.
  • Missing turnover-driven tax and transaction costs.
  • Assuming liquidity terms stay unchanged in stressed markets.

This page is educational and does not recommend a specific fund, security, tax treatment, or account choice.

In this section

Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.

Capital Call

A capital call is a formal request requiring a private-fund investor to fund part of an existing capital commitment by a stated date.

Feeder Fund

What a feeder fund owns, how returns and expenses pass through a master fund, and what investors should verify before investing.

Fund of Funds

How a fund of funds invests through other funds, with examples of diversification, layered fees, liquidity, overlap, and investor checks.

Gate Provision

A gate provision limits how much investors can redeem from a fund on a dealing date, affecting liquidity, timing, and remaining investors.

Master-Feeder Structure

How master-feeder funds pool feeder vehicles into one portfolio, including fees, liquidity, governance, and investor checks.

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