Modernising DDQs: An open letter from the asset management community - 'We want to improve the investment due diligence experience for our clients'

Jonathan Boyd
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Modernising DDQs: An open letter from the asset management community - 'We want to improve the investment due diligence experience for our clients'

An initiative conceived by fund selectors across Europe to streamline investment due diligence is gaining traction. A growing community of asset managers supporting this initiative have joined together to direct more of their clients to a new information sharing platform called Door. They believe it can save their clients’ time replacing the legacy due diligence questionnaire.

Dear Professional Fund Investor

Providing an exceptional customer experience to Fund Investors is our common goal. We are among a growing community of asset managers which recognises the legacy approach to DDQs needs modernisation. We are partnering with a new, independent technology platform called Door to provide our clients with essential fund due diligence on our organisations and investment products. Door is provided to you, our clients and prospective clients, at no cost.

As asset managers, we are competitors. But we share the common objective of meeting our clients’ need for greater levels of transparency, faster response times and a fuller understanding of our product information.

We recognise that the current due diligence process can be inefficient, and we want to take steps to improve the service we provide. Word documents and Excel spreadsheets are not the best way of communicating changes to our product information. We want to help reduce the amount of time our clients spend gathering and reading our product information to look for important changes.

Door helps solve the challenges posed by the legacy approach to DDQs through the combined benefits of standardisation and digitisation. The Standard Questionnaire on Door was created through industry collaboration. Professional fund investors across Europe created a detailed, peer-reviewed standard questionnaire. While the questionnaire is comprehensive, it can be supplemented with proprietary questions for those investors seeking additional information.

Door is independent and endorsed by the Association of Professional Fund Investors to ensure it continues to represent best practice in fund due diligence. Door has been operating since late 2017 with a robust technology platform. Around 160 manager research teams are registered for Door and have already processed 1,400 requests for our fund information.

Several of us collaborated with fund investors to help shape the platform and have been using Door since launch. Some of us are new to the service. We continue to improve the content on Door as new users come on board and outline their diverse needs.

Please go to Door for your due diligence information on our funds. We’re convinced it will be much more efficient for you and it will enable us to serve your needs better.

You can find more information at www.guidetodoor.com

 

Jonathan Boyd
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Jonathan Boyd

Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope.

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