DD on distributors (KYD) & DD on Lannebo Fonder (fund manager).
Lannebo Fonder is a Swedish fund company founded in 2000 by Anders Lannebo together with a group of portfolio managers from fund companies owned by leading banks in the Nordics. Lannebo has approximately 70 billion SEK in AUM in 16 funds and they are now expanding with distributors in other countries.
Before GRC WATCH: “The number of distributors has grown during the past years and it’s a challenge to monitor all of them on a regular basis. It’s not partner friendly to send a lot of unique questionnaires and emails when we perform our own due diligence. Distributors and institutional clients have also started to intensify their due diligence on us and it’s very time-consuming to fill out questionnaires and send them to one company at a time. We had to find a solution for all of this.
With GRC WATCH: We think it’s great that distributors can share the same profile with all asset managers because due diligence is not an area for competition. It’s great that we can share our own documents as well and use the network for due diligence in both directions. It was important for us to secure that we could use the standardized DDQ by the Swedish Investment Fund Association that was launched in December 2019. GRC WATCH made it possible to ask questions that are only relevant for the Swedish market and they launched this service right after the “Swedish DDQ” was launched.
A final comment by Lannebo:
“The support team at GRC WATCH is really active and we like the fact that the tool is based on many years’ experience of distributor due diligence.”
Daniel Sundqvist, Head of Sales and Marketing, Lannebo Fonder
More info about Lannebo Fonder: https: www.lannebofonder.se
More info about Daniel: Linkedin
Avanza - 3 types of due diligence.
Linnea Wiklund, Head of Fund Selection at Avanza Bank, is sharing the ROI when handling 3 different types of due diligence in GRC WATCH. Distributor, fund manager and investor due diligence - in one single place.
Joint effort by asset managers in Norway.
Norwegian asset managers wanted to comply with the rules in MiFID II related to "mandatory" due diligence on distributors. They also wanted to minimize the work for the distributors and avoid sending a lot of unique questionnaires to them.