With Convergent, manager due diligence isn't confined to the selection stage. It's an ongoing process. Our Investment Strategy Group remains in frequent contact with each of our recommended managers and continuously gathers and analyzes data to determine whether or not each manager remains an attractive investment. Much of the group’s efforts is spent obtaining and evaluating market and manager information, and on assessing the potential benefit or impact this information may have on client-invested funds.

Formal due diligence is performed on our approximately 100 recommended investment managers and working files are kept for more than 2,400 managers.  Through our internal and external databases, we have access to qualitative and quantitative data on over 20,000 investment funds/strategies.

At a minimum, formal due diligence is conducted on a semi-annual basis, although it is often conducted more frequently.  The frequency of formal due diligence is determined by a number of factors, including the amount of money we have with the manager, the complexity of the strategy and the frequency and transparency of manager communications (because we place such high importance on maintaining a transparent operation ourselves, we also expect the same of the managers in which we invest.)

Convergent’s ongoing due diligence is a continuous effort that is performed in conjunction with our formal due diligence process.  The Investment Strategy Group interviews principals of the firm, documenting and investigating any changes in investment process, staffing, assets under management or any other material developments.