Envestnet, Inc., the Chicago-based wealth management platform provider for investment advisors, and Fund Evaluation Group, LLC (FEG), an institutional investment consulting firm, have formed a “Hedge Fund Research Alliance.”
The partnership will add FEG’s research on more than 40 hedge funds and hedge funds-of-funds to Envestnet’s platform, complementing the existing research on separate account managers, mutual funds, ETFs and liquid alternative investments, according to a press release.
FEG’s hedge fund due diligence includes on-site meetings, operational due diligence, third party service provider verification and multiple reference checks, the release said. 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.
FEG advises on a reported $33 billion in assets for institutional clients and has more than $3 billion allocated to hedge fund managers via direct investment from their clients as well as discretionary access vehicles.
© 2012 RIJ Publishing LLC.
