Envestnet, a provider of technology-enabled wealth management solutions for investment advisers, has formed a hedge fund research alliance with Fund Evaluation Group (FEG), an institutional investment consulting firm.
The alliance complements the research on separate account managers, mutual funds, ETFs and liquid alternative investments on the Envestnet platform, powered by Envestnet | Prima.
As part of this partnership, advisers will have access to research and due diligence reports on more than 40 hedge funds and hedge fund of funds that are covered by FEG. The research will be available on the Envestnet platform. Advisers will be able to leverage research reports and information that include manager and strategy overviews, fund terms and service providers, historical performance and exposure detail. Advisers will also get access to quarterly monitoring reports including quantitative analysis and commentary on quarterly performance and organisational updates.
"This partnership is the natural progression of Envestnet's commitment to providing advisors with a better way to manage wealth," says James Patrick (pictured), managing director, adviser managed programmes, Envestnet. "FEG is leading the movement to democratise investing in hedge fund strategies and we believe their research and due diligence process complements and enhances the solutions on our platform."
Hedge fund due diligence is performed by FEG's research team. The process includes on-site meetings, operational due diligence, third party service provider verification and multiple reference checks. FEG also provides ongoing monitoring of hedge fund managers via performance analysis, risk monitoring, position level monitoring, quarterly conference calls and face-to-face meetings.