Last updated: 09:36 / Wednesday, 19 April 2017
Fills its ‘First 100’ group

Door Launches Digital Platform for Fund Selector Due Diligence

Door Launches Digital Platform for Fund Selector Due Diligence

Door has launched its first digital platform to streamline the fund due diligence process between asset managers and fund investors. During this intial launch phase, 18 global asset managers will now submit fund information in an industry best practice, standard format which will be used by professional fund investors when monitoring and screening funds.

Door is registering fund investor users in groups of 100. The ‘First100’ Group is now oversubscribed, representing 28 major fund buying firms. Door is already registering users for its ‘Second100’ Group.

Driving value to all participants

Door drives value to fund investors and asset managers alike. Within fund investor teams, too much time is being spent collecting and organising fund information for analysis. Asset managers have to resource large teams to be able to respond to information requests in a multitude of formats.

Door brought together a collaborative group of innovators from 10 fund investors, such as Mediolanum, Santander, All Funds, EFG and Pictet Wealth Management, and 12 global asset managers, such as Schroders, Pictet Asset Management, Robeco, Aberdeen, Franklin Templeton and Columbia Threadneedle. They helped co-create the solution. Now 18 global asset managers will participate on the first Door platform.

Door is overseen and endorsed by the Association of Professional Fund Investors to ensure independence and best practice in fund due diligence. On Door, asset managers find efficiencies by reducing the repetitive nature of responding to due diligence requests and improve their responsiveness to client requests.

Derick Bader, Head of Marketing & Products at Pictet Asset Management said “Door helps us streamline and manage a large volume of information requests. We estimate that if Door had been in place in 2016, we would have saved more than 100 man/woman days of work and achieved a much quicker response rate to our clients.”

Ben Seager-Scott, Director of Investment Strategy & Research at Tilney said “Door is a welcome and innovative solution to help improve the efficiency and effectiveness of the fund due diligence process, which I believe will significantly benefit fund providers, fund analysts and our underlying clients. Standardising and digitising the common core of the due diligence process gives analysts access to an on-demand resource, while preserving the integrity of the proprietary elements of our due diligence and insight process. I’m grateful to Door for inviting us to be part of this exciting development, and am pleased to support such innovation.”

“Standardisation in due diligence information means I can access the majority of the information I need without waiting weeks for a response. It will save me time and allow me to focus on that information that is most important to me.” José María Martínez-Sanjuán, Santander.

Rob Sanders, Co Founder of Door said “Door is a simple solution to common innefficiencies. We aim to create value for all stakeolders in the fund due diligence process. Margin pressure and work volumes are increasing for both asset managers and fund investors. Digitisation, standardisation and the streamlining of this process make a lot of sense to our clients.”

For more information follow this link.