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FAQ for Emerging Managers


What is the process for becoming a funded manager?

How long does the funding process take?

What are the initial allocations a manager can expect?

Do I have to have a five-year performance track record or a certain amount of assets under management?

What is the payment structure — i.e., how does Progress get paid and how does Progress pay the managers?



What is the process for becoming a funded manager?

The first step in the process is to complete and submit the Manager Questionnaire. Progress conducts thorough due diligence on all qualified managers prior to funding. The process includes visits at our offices and on-site at the investment manager's offices. Click here to learn more about our manager selection process.

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How long does the funding process take?

This depends on many factors — the primary factor being what our clients are looking for in their investment lineup. On average, managers selected for our program are funded in six months to one year.

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What are the initial allocations a manager can expect?

Initial allocations are based on fund construction. Average allocations for newly funded managers range from $5 to $25 million. Allocations can grow significantly depending on client needs and the manager's investment performance.

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Do I have to have a five-year performance track record or a certain amount of assets under management?

No, we evaluate each manager on a case by case basis. A portable track record is helpful but not required. We are comfortable being the first investor in a manager's product.

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What is the payment structure — i.e., how does Progress get paid and how does Progress pay the managers?

Most of our clients pay Progress one all-in fee, which Progress then splits with the managers. In a few instances, our clients pay the managers and Progress separately and directly, consistent with their organization's specific legal or contractual guidelines. It is important to emphasize that Progress never under any circumstances accepts monies from the managers. We sometimes are asked if managers pay to be in our database or to attend our Plan Sponsor and Emerging Manager Conference. The answer is no, never. We do not accept any form of payment from the emerging managers in our investment programs.

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