A due diligence questionnaire (DDQ) is the standard set of questions an allocator sends a fund manager before investing, covering strategy, team, structure, operations, risk management and compliance. The AIMA DDQ is the most widely used template for hedge funds.
A completed DDQ is the starting point for both investment and operational due diligence. Allocators compare answers against documents and provider confirmations, and follow up on anything unclear. Managers maintain a master DDQ and update it as the fund evolves.
For an emerging manager, a well-prepared DDQ signals institutional readiness; a thin or evasive one ends the conversation.
Every POD fund on Discover comes with a standard due-diligence pack covering the operational sections, so a manager's own DDQ can focus on strategy and team. [CONFIRM: whether the pack follows the AIMA template.]
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