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Quantitative Finance · Glossary

What is Master–feeder structure?

Also known as: master--feeder structure

Definition 4.2 The Desk and the Firm · Chapter 4 — The Asset Manager and the Fund

A master–feeder structure is a fund in which investors buy into one or more feeder funds, each built for a group of investors (onshore taxable investors, offshore or tax-exempt ones), and the feeders invest all their assets in a single master fund, which holds the portfolio.

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