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ODD Reporting on Funds
Operational due diligence reports with the audit trail built in

Your questionnaires in a tracked workflow, findings flagged by severity, every review step recorded: Cloud ODD turns the review itself into the ODD report, so proving the process takes one click rather than a week of inbox archaeology.

Last updated 11 November 2026.

In short

ODD reporting on funds is the defensible record of operational due diligence: A report that sets out what was reviewed, what was found, how severe each finding is, how the manager responded and who signed off, with an audit trail behind every step. AlternativeSoft's Cloud ODD generates ODD reports from your own process: Your questionnaires, issued and tracked in a workflow, findings flagged by severity, reviews recorded step by step, and the report produced at the end on the same manager record as the fund's analytics. Every fund is analysed the same way, so conclusions hold up in front of the investment committee and the regulator.

At a glance

  • Your processYour questionnaires and review steps, digitised
  • FlagsFindings rated by severity, consistently
  • Audit trailWho reviewed what, and when
  • Committee-readyReport generated from the review itself
  • RecurrenceAnnual refresh tracked by the system
  • One recordODD beside the fund's IDD analytics
Report contents

What goes in an ODD report on a fund

The sections an operational due diligence report needs, and how Cloud ODD fills each one from the review itself.

SectionWhat it answersHow Cloud ODD fills it
Manager and fund profileWho runs the operation, and with which service providersCaptured once on the manager record: Administrator, auditor, custodian, prime broker, counsel
DDQ responses and evidenceWhat the manager said, and what supports itYour questionnaire, completed in the platform, with documents attached to the answers they evidence
Findings and flagsWhat stood out, and how much it mattersEach finding flagged with a severity rating, applied the same way to every fund under review
Manager responses and remediationWhat the manager says about each finding, and what changesFollow-ups tracked in the workflow, with responses recorded against the original flag
Review and sign-offWho reviewed each section, and what they concludedReviewer steps recorded as they happen, not reconstructed afterwards
Audit trailProof of the process itselfEvery action timestamped: Issue, response, flag, comment, decision
Five-stage fund selection workflowFive numbered stages from screening to committee decision with the current fund's progress.Workflow · screen to ICFUND SELECTION WORKFLOW, SCREEN TO COMMITTEE1Screen500,000 funds2Quant review41 shortlisted3Investment DD12 in progress4Operational DD6 scheduled5IC decision2 approvedInvestment DD, Fund gammaPeer ranking, risk report and DDQ attached. IC memo draft generated.74% completeOne recordPer fund, every stageSharedAcross the teamAudit trailFor the committee
Capabilities

Your ODD process, producing its own report

Cloud ODD digitises the process you already run, so the report is a by-product of the review rather than a second job.

Your questionnaires, digitised

Your DDQs move into the platform as they are: Your questions, your sections, your scoring. No forced template.

Cloud ODD platform

Severity-rated flags

Findings are flagged on a consistent scale, so a flag on fund A means the same as a flag on fund B.

A real audit trail

Issue dates, responses, reviewer comments and decisions are recorded as they happen. When someone asks who reviewed what and when, the answer is one click.

AI inside the workflow

AI reads the DDQ responses and attached documents first and proposes the extraction; your analyst confirms. Less manual work, same judgement.

See how it works

Recurrence and deadlines

Annual refreshes, overdue responses and expiring documents are tracked by the system, so coverage scales without headcount.

The report at the end

The ODD report is generated from the review itself: Findings, flags, responses and sign-off, formatted for the committee pack.

Due diligence reports
Why it matters

Defensible to the committee, and to the regulator

Most ODD teams run a rigorous process through tools that were never built for it: Questionnaires in Word, evidence in email threads, review status in a spreadsheet. The work is sound. Proving it is the hard part, because the record of who reviewed what, and when, lives in inboxes.

An ODD report generated from a digitised workflow carries its own proof. Every conclusion traces to a response, a document and a named reviewer, and every fund was put through the same questionnaire and the same severity scale. That consistency is what makes the conclusion defensible when the committee, an investor or a regulator asks how it was reached.

Because Cloud ODD sits on the same manager record as the quantitative analytics, the operational review and the investment case stay together: One record per manager, from first screen to ongoing monitoring.

Due diligence questionnaire completed and reviewedA DDQ progress bar, five sections with drafted, review and flagged statuses, and the time saved.Due diligence · DDQ completionINVESTOR DDQ, 312 QUESTIONS298 of 312 drafted from documents✓Fund governance and ownershipDrafted✓Valuation policyDrafted✓Counterparty and prime brokerDrafted✓Cyber security controlsReview!Regulatory historyFlaggedMinutesInstead of six weeksEvery answerVersion-controlledFull auditTrail for the committee
Process

From questionnaire to ODD report in four steps

Issue the DDQ

Your questionnaire goes to the manager through the platform, with a deadline the system tracks.

Review with flags

Responses and documents come back into the workflow. AI proposes the extraction, the analyst confirms, and findings are flagged by severity.

Record the decision

Reviewers sign off section by section. Comments, escalations and the final decision are recorded as they happen.

Generate the ODD report

The report assembles itself from the review: Findings, flags, responses, sign-off and the audit trail, ready for the committee pack.

See Your ODD Process Digitised

Bring one of your own questionnaires. We show it running in Cloud ODD: Workflow, flags and audit trail, on a live manager record.

Frequently Asked Questions

Common questions

What is ODD reporting on funds?

ODD (operational due diligence) reporting is the written record of an operational review of a fund manager: What was asked, what the manager answered, what was found and how severe it is, how the manager responded, and who reviewed and signed off each step. It is the document an investment committee and a regulator rely on.

What should an operational due diligence report include?

The manager and fund profile with service providers, the DDQ responses with supporting documents, findings flagged by severity, the manager's responses and remediation, reviewer sign-off, the conclusion, and an audit trail showing who reviewed what and when.

How is an ODD report different from an IDD report?

ODD examines the operation: People, processes, controls, service providers and governance. IDD examines the investment: Returns, risk, peers and factors. A complete manager review needs both, and AlternativeSoft keeps them on one manager record.

Can we keep our own questionnaires and scoring?

Yes. Cloud ODD digitises the process you already run: Your DDQs, your sections, your severity scale and your review steps. The point is to automate your existing process, not to replace it with someone else's.

How does the audit trail work?

Every action in the workflow is timestamped as it happens: When the DDQ was issued, when each response arrived, who flagged what, every comment and every sign-off. The trail is part of the record, so it never has to be reconstructed from emails.

Does AI write the ODD report?

AI accelerates the work inside the workflow: It reads DDQ responses and documents first and proposes extractions and summaries, which the analyst confirms. Every statement in the report traces back to a response, a document and a reviewer.

How much does ODD reporting cost?

AlternativeSoft is licensed annually by users and modules, not by assets. Pricing follows a demonstration on your own funds, and a free trial is available afterwards.
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