Best practices: Investment commentary

Investment commentary production has changed. At many asset management firms, commentary is no longer owned exclusively by marketing. It increasingly sits within operations, product or centralised production teams.

The mandate is straightforward. Deliver accurate, compliant and timely investment commentary at scale. And do it efficiently.

Yet for many firms, the monthly or quarterly commentary cycle still feels reactive. Deadlines compress. Inputs arrive late. Revisions multiply. Marketing worries about brand voice. Operations worries about throughput.

When commentary production becomes stressful (and costly), the problem is rarely the content itself. More often, it’s process design.

The good news? A smoother investment commentary workflow is possible. It requires a clear structure, disciplined inputs and realistic expectations about where automation helps (and where it doesn’t).

Start with the process, not content

Often, commentary delays are rooted in unclear ownership. Who finalises performance data? Who drafts the content and reviews? Who manages compliance edits? Who gives final approval?

When those roles are implicit rather than explicit, friction is inevitable. Emails multiply, files circulate and timelines slip.

Operations teams benefit from clearly mapped responsibilities at every stage of the commentary production process. Marketing teams benefit as well, because defined ownership protects tone, positioning and consistency. Even a simple documented workflow – reviewed before the start of each quarter – can reduce confusion and rework.

Stabilise inputs before writing begins

Investment commentary depends on data – performance numbers, attribution analysis, transaction data. When those inputs shift mid-cycle, the narrative has to shift with them.

One common inefficiency in commentary production is drafting before the data is finalised. Writers reconcile spreadsheets. Portfolio managers adjust figures. Compliance flags discrepancies. And what should have been a straightforward process becomes iterative and time-consuming.

High-functioning asset managers separate data validation from narrative development. Performance figures are finalised and centralised before drafting begins. A single data owner signs off. Once approved, the numbers are locked. This discipline reduces revision cycles and increases confidence in the final product.

Treat commentary as a master narrative

Many firms unintentionally duplicate effort. A long-form commentary is written for institutional clients. A shorter version is drafted for intermediaries. A web summary is created separately. An email excerpt is built from scratch. A social snippet is then written again.

Each version may be technically accurate. But they’re not always strategically aligned.

A more efficient model treats the commentary as a master narrative. From that single core document, shorter formats are derived. Sections are modular, and consistent messaging is used across channels.

For operations, this reduces production time. For marketing, it ensures brand coherence. For sales, it creates clearer messaging across client touchpoints.

Use AI in commentary production thoughtfully

AI in financial content is now part of the conversation. Some asset managers are experimenting aggressively. Others remain cautious.

AI can support commentary production in practical ways. It can assist with drafting based on structured inputs. It can help normalise tone across multiple products. It can generate alternate lengths for different distribution channels.

However, AI can’t replace investment judgment. It can’t interpret nuance in portfolio positioning. It can’t intuit how a firm wants to frame risk or opportunity in a particular market environment.

Firms that see meaningful gains treat AI as an efficiency tool within a defined process, not as a substitute for subject-matter expertise. Guardrails and editorial oversight matter. Compliance review remains essential. The focus is integrating AI responsibly within an existing workflow – without increasing the risk of brand-damaging (and career-limiting) mistakes.

Protect the commentary calendar

Even the most well-designed commentary process breaks down when timelines are unrealistic. Deadlines compress because upstream inputs arrive late. Reviewers request substantial changes with little time remaining. Distribution dates are fixed, but internal milestones are fluid.

Smoother commentary production requires calendar discipline. Firms that work backward from distribution deadlines – and enforce internal cutoffs – experience fewer last-minute escalations.

Predictability reduces stress across marketing, operations, compliance and investment teams. It also reduces risk. Rushed commentary is more likely to contain inconsistencies, tonal shifts or preventable errors.

Revisit the system regularly

Investment commentary production shouldn’t be treated as a static monthly routine. After all, market conditions evolve. Regulatory expectations change. Organisational structures shift. Technology advances.

That’s why best practices for commentary workflows include periodic re-evaluation and practical questions. Where are delays recurring? Which review stage generates the most rework? Are we producing formats that no longer deliver measurable value? Has ownership drifted informally over time? Small structural adjustments – clarifying roles, tightening inputs, consolidating formats – can materially improve efficiency without increasing headcount.

Commentary production doesn’t have to be chaotic

Investment commentary is a core communication channel for asset managers. It shapes client perception, reinforces investment philosophy and supports distribution efforts.

When commentary production runs smoothly, operations teams gain predictability. Marketing teams retain control of brand voice. Portfolio managers spend less time revising drafts. Compliance sees fewer late-stage surprises.

That’s why process discipline can be a competitive advantage. With the right structure, investment commentary becomes scalable and manageable.

For many firms, that structure benefits from experienced external support. 

For more than 20 years, Copylab has helped asset managers produce accurate, on-time and on-budget commentary. We’ve even managed the entire process from start to finish. Learn how we can help your firm.