Nasdaq owned eVestment’s LP reporting module
eVestment, a Nasdaq company, has announced the launch of a new performance reporting module to help private fund managers more efficiently report to LPs - a timely development given the flood of information requests being received during the recent market crisis.
As also seen in the fallout of the 2008 GFC, the impact of the COVID-19 pandemic on the markets has increased investors’ and stakeholders’ need for timely and granular data about fund and deal performance from GPs. To help GPs supply these groups with the information they need, when they need it and in the format they request it, eVestment has released a new reporting module within its track record analytics and management tool, TopQ.
TopQ’s new Excel Report Builder equips users to re-create their capital allocators’ report templates in the app, choosing the specific data points and configurations required for each LP. Once these formats have been logged, fund managers can then export their latest fund performance reports into pre-formatted outputs that align with individual LP requirements, saving time and equipping them with a more responsive reporting process.
“Providing insights to both GPs and LPs has been the mission of the TopQ product since day one,” said Graeme Faulds, Director of Product for eVestment’s Private Markets division. “Especially in this volatile environment due to the coronavirus, many fund managers need to give their investors insight on performance as soon after quarter-end as possible. 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. This latest development in TopQ helps GPs automate this to a greater extent, and significantly reduces the time and effort involved in delivering insights to their investors.”
TopQ also helps fund managers streamline and improve the starting point of the reporting process: using the tool’s performance calculation engine, users can upload transactional cash flow data and parameters for a full track record of deal and fund metrics which power data analytics and visualization tools.
Nasdaq acquired eVestment in 2017 for $705M to bolster its market technology business and woo more institutional investors. Since then, Nasdaq has also acquired Solovis, a privately-held financial technology company offering multi-asset class portfolio management, analytics and reporting tools across public and private markets. Solovis solutions are available through Nasdaq’s eVestment group and broadens eVestment’s capabilities with portfolio analysis and monitoring for institutional investors and consultants.
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