RT Journal Article SR Electronic T1 The Hedge Fund Manager's Guide to Equalization JF Special Issues FD Institutional Investor Journals SP 138 OP 143 VO 2002 IS 1 A1 Fergus M Healy A1 Cary M. Kilvan YR 2002 UL https://pm-research.com/content/2002/1/138.abstract AB A key concern for hedge fund managers globally is the calculation and apportionment of the manager's performance (or incentive) fee. This article reviews the different accounting techniques that hedge fund managers use. The authors show that without the use of certain accounting techniques such as equalization or series accounting the performance fees paid can be disproportionate to the performance turned in over a specific period of investment.