The new service will help fund selectors to access detailed operational due diligence information from a single consolidated platform. The service has been launched after close collaboration with the Association of investment companies (AIC) and leading market participants.
“Having a complete record of detailed information in a consistent field based format, irrespective of the collective product type, is very much in accordance with regulatory guide lines” says AssetQ product Director, Richard Green.
AssetQ will layout a new standard for difficult-to-source information, which is needed to properly assess investment suitability and underlying risk. “Due diligence is all about getting under the hood and knowing a product beyond its performance, liquidity and volatility” says Green.
Nick Britton, Head of Intermediary Communications at the Association of Investment Companies (AIC), said: “Investment companies are an essential part of the investment toolkit for many wealth managers and advisers. So we support any initiative to help bring investment company information and data to fund selectors in a form that is more convenient for them. We worked with AssetQ to help ensure that key areas of due diligence were covered in a way that is relevant to investment companies, and we hope the launch of this service will contribute to the wider use and understanding of closed-ended funds as part of a well rounded portfolio.”
AssetQ plan to announce the launch of their ETF service later this year making the platform a complete due diligence information service across the industry for Exchange Traded Products, in addition to the existing closed and open end funds.
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