PFM performs extensive due diligence on a Fund/Manager before entering into an agreement.


Some of the processes/reviews we perform include the following:

  • Manager and key personnel credit/background check
  • Review of Manager References including previous employers, personal references, current and past investors
  • Review and verification of data in existing marketing materials
  • Review of Risk Management and Valuation Procedures
  • Review and analytics of performance, attribution and other portfolio data
  • Review of Fund’s performance audits for all years reported
  • Review of Offering Documents/Limited Partnership Agreement
  • Review of Top 5 Largest Client Redemptions – dates and reasons
  • Review and confirmation of current investors and AUM under management
  • Review/confirmation of Form ADV and any other regulatory/corporate registrations
  • Review and verification of Manager Due Diligence Questionnaire
  • Subscription Agreement
  • Manager On-Site Review
  • Confirmation call and/or meeting with Fund Auditor
  • Confirmation call and/or meeting with Fund Prime Broker (review of transactions and verification of investment style)
  • Confirmation call and/or meeting with Legal Advisor
  • Confirmation call and/or meeting with Fund Administrator