QMac: How do I track a private investment fund?
A family friend manages a limited partnership investment fund. I invested (for simplicity sake) $100 in 2014, and it grew to $120 by 2015, when I invested $100 more. That $220 stake has since grown to $240. I get monthly statements showing the % (not the dollar amount) up and down of the entire fund, net of fees, and quarterly reports which show my current balance. I am not privy to the list of holdings that the fund buys and sells. I trust my friend as much as anybody in the financial industry, but find the whole industry awash in clever percentages and reports that mask what I really want to know which is... how much have I made or lost, and how does that compare to a S&P 500 ETF. Anybody have any tips?
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