eVestment looks to mitigate the data request deluge

The service provider is adding a performance module to its TopQ analytics tool, aiming to help managers get on top of the flood of performance reporting requests from LPs since March.

eVestment plans to announce the addition of a new performance reporting module to its TopQ track record analytics and management tool, Private Funds CFO has learned. The Excel report builder module aims to help GPs deal with “the deluge of information” requests amid the market turmoil of recent months.

The module allows users to re-create their investors’ report templates within the app, pinpointing the specific data points and configurations required, according to a forthcoming announcement. GPs are then able to “export their latest fund performance into pre-formulated outputs that align with individual investor requirements.”

Managers have been inundated with data requests since the onset of the global pandemic, even as they struggle to get a clear picture of how their assets are performing. Second-quarter valuations won’t be out for months, but some managers expect them to be significantly lower than March 31 marks.

“There’s a natural lag in private markets, but the lag should not be exasperated by inefficiencies in current processes of pulling data into the configuration and cuts required by each of their investors,” said Graeme Faulds, director of product for eVestment’s private markets division. “Especially in this volatile environment, many GPs need to give their investors insight on performance as soon after quarter-end as possible.”

TopQ clients can also upload transactional cashflow data and parameters to the tool’s performance calculation engine at the beginning of the reporting process for a quickly-generated track record of deal and fund metrics, according to the company.