GLOBAL – The multi-manager team at CBRE Global Investors is joining up with data firm Indirex to create a dedicated secure information exchange network for non-listed property funds and investors.
Indirex said it aims to have 100 funds providing data to the network by the end of the year.
Dugal Hunt, director and fund manager at CBRE Global Multi Manager (GMM), said: “It should improve the communication and ease of transfer of information between managers and their investors.”
Having a single reporting point that can be used by most fund managers to communicate and distribute important fund documentation would be much more efficient for both parties, he said.
Managers will be able to use the new system to provide many kinds of information to clients, such as monthly and quarterly reports, valuation statements, annual report and accounts, fund documentation and amendments to it, as well as research reports and material about new fund opportunities.
Standards of delivery of information currently vary widely from manager to manager, Hunt said. “There are various different delivery methods and security processes for the delivery of this data and the Indirex system is aiming to centralise this process."
CBRE GMM has over 150 investments in unlisted real estate funds and working relationships with more than 100 investment managers, and so gaining consistent access to standard documentation and undertaking basic data collection was a challenge.
The challenge was made even more complicated because of the range of delivery standards and variety of security processes used across the industry, it said.
Cameron McVean of Indirex’s operations department, said: “With 25% of managers contacted already developing their presence on the Indirex platform, the project is progressing well.”