Form PF Checklist for Hedge Funds

1. General Preparation

Determine filing frequency (quarterly for large hedge fund advisers, annually for others)
Identify all hedge funds subject to reporting
Gather necessary data from internal and external sources

2. Section 1a: Identifying Information

Complete adviser's identifying information
Include other identifying numbers (e.g., CIK) if applicable

3. Section 1b: Assets Under Management

Calculate Regulatory Assets Under Management (RAUM)
Break down AUM by fund type

4. Section 1c: Hedge Fund Information

List all hedge funds advised
Provide details for each fund (e.g., gross asset value, net asset value, borrowings)

5. Section 2a: Aggregate Hedge Fund Information

Report fund strategy exposures
Disclose trading and clearing mechanisms

6. Section 2b: Hedge Fund Risk Metrics

Calculate and report required risk metrics (e.g., VaR, portfolio liquidity)
Report counterparty credit exposure

7. Large Hedge Fund Adviser-Specific Sections

Complete Section 3 for each qualifying hedge fund
Fill out Section 4 if applicable (large hedge fund advisers only)

8. Final Steps

Review all information for accuracy and completeness
Obtain necessary internal approvals
File Form PF through the PFRD system
Maintain records of filed Form PF and supporting documentation