A fee-reporting tool that enables limited partners to cross-reference fee validation with peers in the same fund has been launched in the UK.
The Fee Allocating Incentive Reporting service, developed by UK-based fund services firm Colmore, aims to tap into LPs’ desire for more transparency on reporting data.
“The focus in the market is LPs using the data they get from managers to gain greater clarity on fees and GP carry,” Richard Lyons, director at Colmore, told pfm.
“We’re able to leverage the systems we already have to develop technology solutions, and we’ve heavily invested in that area.”
The service allows LPs to analyze GP reported data, including cross referencing the fee validation processes with other LPs in the same funds. The firm amalgamates information from standard investor notices, quarterly reporting packs, financial statements and other issued correspondence from the underlying GPs.
“Colmore has developed a comprehensive client portal which offers clients a real time look-through of portfolio assets and advanced analytical tools. FAIR will be delivered through this portal, and compliments Colmore’s wider service offering. We are also able to send reports via secure email,” Ben Cook, Colmore’s chief executive, told pfm.