FINCAP PLATFORM · GOVERNANCE
Independent Research
and Due Diligence
Fund selection on the FinCap Platform is supported by two independent research relationships. Together they bring global macro rigour and institutional-grade operational due diligence to every investment available through the platform.
Every fund on the FinCap Platform has been through a structured selection process that begins with macro-level asset allocation research and ends with fund-level investment and operational due diligence. The two relationships described below are the external pillars of that process, independent of FinCap, independent of each other, and engaged specifically to hold the platform to an institutional standard.
Macro and Investment Research
STRATEGIC ASSET ALLOCATION · CAPITAL MARKET ASSUMPTIONS · TAA FRAMEWORK
BCA
Research
BCA Research is one of the world’s leading independent investment research firms, with over 75 years of history providing macro and investment strategy research to institutional clients globally. Their Private Markets and Alternatives division brings deep expertise in long-horizon asset allocation, capital market assumptions, and cross-asset positioning across private equity, private credit, infrastructure and real assets.
The FinCap Platform’s Strategic Asset Allocation (SAA) framework is built directly on BCA’s annual Private Markets Capital Market Assumptions, which set 15 to 20 year return expectations across asset classes and sub-strategies. Tactical Asset Allocation (TAA) tilts are informed by BCA’s quarterly outlooks, which the Investment Committee translates into portfolio actions. Brian Payne, BCA’s Chief Strategist for Private Markets and Alternatives, leads the engagement.
Strategic Asset Allocation
BCA’s annual Capital Market Assumptions set the 15 to 20 year SAA framework for the Helm Income and Helm Growth portfolios across six asset classes and fourteen sub-strategies.
Tactical Asset Allocation
Quarterly BCA outlooks inform TAA tilts across the portfolios. The Investment Committee translates BCA’s macro views into positioning decisions.
Independent of fund selection
BCA’s role is asset allocation, not fund selection. This sequencing is a hard rule: BCA’s SAA framework comes first, before independent due diligence and before any fund commitments.
Investment Committee Input
Brian Payne attends Investment Committee sessions, presenting Capital Market Assumptions and SAA and TAA process directly to the Committee.
Fund-Level Due Diligence
INVESTMENT DUE DILIGENCE • OPERATIONAL DUE DILIGENCE • ONGOING GOVERNANCE
FinCap has engaged a leading independent specialist to provide investment due diligence (IDD) and operational due diligence (ODD) on funds available through the platform. This arrangement ensures every fund has been assessed to an institutional standard before it can be included on the Approved Product List.
The sequencing is strict: no fund selection commitments are made before due diligence findings are available. This gate applies at initial admission and continues through ongoing quarterly governance reviews, so the standard does not erode after a fund is admitted.
Investment Due Diligence (IDD)
Assessment of strategy, team, track record, portfolio construction, terms, capacity and evergreen-specific risk. Applied at admission by the independent research partner.
1
Operational Due Diligence (ODD)
Assessment of firm governance, service providers, compliance framework, valuation policy, and reporting transparency. A separate gate from investment merit, applied independently.
2
FinCap Internal Overlay
FinCap’s internal Evergreen Fund DD Framework runs alongside external due diligence, specifically addressing liquidity terms, NAV integrity, fee alignment, capital dependency, distribution sustainability and leverage. Applied at admission.
3
Ongoing Governance Scoring
Every fund on the platform is scored quarterly against a 10-pillar qualitative governance framework. Material weakness on any single pillar can trigger escalation to the Investment Committee, placing the fund on a watch list or initiating a removal process.
4
Note on disclosure: The identity of the independent due diligence partner is not published externally. Registered advisers and wholesale investors can request further information about the due diligence framework through the platform.
How the Two Work Together
SEQUENCING • GOVERNANCE INTEGRATION
The two research relationships are structurally independent and serve different functions in the investment process. BCA’s work comes first: it sets the asset allocation framework before any fund shortlisting begins. The independent due diligence partner then assesses individual funds against the shortlist that emerges from that framework. No fund selection commitments are made until both layers are complete.
Both relationships feed directly into the two-tier governance structure of the FinCap Platform. The Research Committee reviews findings monthly and makes APL admission and removal decisions under delegated authority. The Investment Committee ratifies those decisions quarterly and receives BCA’s macro views at each meeting.
GET STARTED
Register for the FinCap Platform
Once registered, you can explore our investment opportunities, review past performance, understand fees, read and watch content, and access all disclosure documents. Getting started takes just a few minutes.
This content is general in nature and does not constitute financial advice. It does not take into account your personal objectives, financial situation or needs. FinCap PAMA Pty Ltd (ACN 686 609 361) is a Corporate Authorised Representative of FinCap Custodians Australia Pty Ltd (AFSL 540419). · Privacy Policy