ODD used to be about the "report", prepared when a new manager was onboarded, and then potentially refreshed every 2-3 years. This legacy approach to ODD has now been superceded by active, ongoing manager monitoring.
OpsMonitor offers investors a consistent, auditable monitoring platform, capturing changes at the manager and fund level intra year.
- Quarterly / semi annual questionnaires are sent to each manager. What has changed - a new fund launch, a new office...or a new regulatory inspection or lawsuit? Has anyone left - if so, why? Any changes in service providers? Has the manager had a cyber incident?
- DiligenceExchange is updated quarterly
- "Trust but verify" checks updated annually.
- Routine manager communications are reviewed. The investor's front office may review the performance commentary, but is the ODD team aware of a new compliance officer or the resignation of the CFO disclosed in this month's manager letter?
- Portfolio wide, interactive dashboard of monitoring factors - who is "in the red" this quarter?
- Updated documents received and stored in the DiligenceHub data room.