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97% of fund managers say they get at least one custom DDQs from investors

Wednesday, September 15, 2021
Opalesque Industry Update - DiligenceVault, a digital diligence platform that delivers data collection and information exchange solutions for asset owners, allocators and fund managers, released its latest whitepaper entitled "2021 Manager Survey: How RFPs and DDQs Get Done."

The paper presents the results of its survey of fund managers that explores how marketing, investor relations and compliance professionals are optimizing their staffing, processes and technologies to meet the due diligence needs of the allocator community.

The primary areas of focus for the survey are centered around Investor Requests and Team Sizes, Consultant vs Third-Party Database Engagement, Industry Standard and Custom Questionnaires and dedicated RFP/DDQ Technology. Points of interest from the survey include:

• 97% of managers state they get at least one custom DDQs from investors

• 60% of respondents mentioned PRI's Limited Partners' Responsible Investment Due Diligence questionnaire is an industry standard DDQ that they are asked to submit

• 40% of managers with AUM between $10bn - $50bn use a dedicated RFP/DDQ technology to respond to investor requests. 64% of managers with AUM between $50bn - $100bn and 71% with AUM over $100bn do the same

• On average, 32% of allocators will accept a pre-filled, industry standard DDQ

• Nearly 60% of allocators send a custom DDQ to managers for them to fill out

• 12% of managers with AUM between $1bn to $10bn receive between 100-500 RFPs/DDQs requests a year. That number jumps significantly, though, to 40% for managers in the $10bn to $50bn AUM range.

Monel Amin, Founder and CEO of DiligenceVault, commented: "As both allocators and fund managers continue to look for efficiencies across their organizations, the manager research and due diligence process is also benefiting from advancements in technology. With the increasing deluge of information requests from the investor community, fund managers have begun to recognize that better tools are needed to optimize their communication with investors to win new business. DiligenceVault has developed an industry-leading set of solutions for fund managers to help them better organize their content, track information requests, collaborate across the organization, and respond to investors quicker and easier."

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