Abstract: A family of hedge funds, serving as “feeder funds” into underlying single-manager hedge funds, formed to provide smaller investors with the ability to allocate and reallocate assets among alternative strategies, and this basic structure combining interrelated systems and methods for offering, redeeming, exchanging, valuing, reporting and servicing the same is a new approach. The system and methods described herein provide investors having less than ultra-high net worth portfolios with access to hedge funds and the potential valuable diversification to an overall portfolio, and the ability to customize their portfolio of hedge funds to their individual needs and adjust such portfolio over time as seen fit in light of changing financial needs and market conditions. This invention gives a wide range of investors access to hedge funds, creating economic value using a new source of stable investor capital for hedge fund managers, a value shared with investors through reduced costs.

Abstract: An n-position selector switch includes a binary counter which is clocked in response to a user actuated push-button type input. The counter's output is fed into a decoder, the output of which drives a visual display indicating the selected switch position. A detector at the counter output responds to a data pattern indicative of selection of the nth-switch position by initiating a counter load operation which resets the counter on the occurrence of the next pushbutton actuation.

Abstract: A rotary-type switch simulator includes a shift register and a counter, both clocked by a momentary contact switch. The shift register outputs drive visual indicators indicating the selected switch position, while the counter provides a binary output corresponding to the indicated switch position. Logic circuitry, responsive to selected data bits at the outputs of the shift register and counter, reset the shift register and counter respectively to their initial states after the highest switch position has been accessed.