MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, March 17, 2017 A Fund-Selector-Focused Startup Comes A-Knockin' Rob Sanders and Roland Meerdter just launched a platform designed to revolutionize due diligence in Europe, and they've got plans to bring it stateside before year-end.
"At the moment, the process is pretty archaic," Sanders, co-founder of Door, tells MFWire. Due diligence folks use Door for free, while asset managers pay a fee based on number of funds, though it's not a per-fund charge. To create the platform, Door collaborated with a group of ten fund distributors and twelve global asset managers, including Aberdeen, Franklin Templeton, and Columbia Threadneedle. For the initial launch, the company is working with 18 asset managers and 28 fund distributors, representing 100 individual fund investor users. They're onboarding individual users in phases of 100 and already quickly filling slots for the next round of users. When consulting distributors, Sanders and his team found a 90-percent overlap in due diligence questionnaires. Door incorporates those questions into a standard model but also gives distributors the option to include supplemental questions. For distributors, the platform is designed to save time in gathering information and even alerts research teams when an asset manager updates fund information. For asset managers, the idea is to reduce the repetitiveness of responding to due diligence requests. Door is overseen and endorsed by the Association of Professional Fund Investors, a group of fund investors concentrated largely in Europe. Printed from: MFWire.com/story.asp?s=55927 Copyright 2017, InvestmentWires, Inc. All Rights Reserved |
