GAMS Standards
Open templates, data standards and reference documents for the global asset management industry
GAMS Standards is a free, open library of standardised resources for asset managers, fund distributors and service providers. Browse collections such as due diligence questionnaire (DDQ) templates, the SICAV prospectus template and openfunds data standards — each curated and maintained by an industry working group. Every template, schema and reference document can be downloaded without registration.
Resource Collections
The European Fund Classification (EFC) is a pan-European classification system of investment funds which has been developed by the European Fund Categorisation Forum (EFCF) – a dedicated Task Force of the European Fund and Asset Management Association (EFAMA). The EFC classification schema is well-defined and built on transparent classification criteria that permit an easy comparison of like-for-like investment funds across different European jurisdictions. The EFC fund universe is split into 6 main, high-level categories: Equity, Bond, Multi-asset, Money market, “Absolute Return Innovative Strategies” (ARIS) and Other. Those six categories are then further broken down into subcategories based on a combination of different categorisation elements. These subcategories are both exhaustive and unique, offering a level of detail and differentiation that sets it apart from other fund classification systems. A fund can only belong to one category, ensuring clear and comparable results. The term “fund” covers all types of funds, including all funds classified according to the EU UCITS (Undertakings for Collective Investments in Transferable Securities) Directive and AIFM (Alternative Investment Fund Managers) Directive. Exchange-Traded Funds (ETFs) are also included and are classified the same way as conventional funds. The EFC is industry owned and governed without commercial bias. All professional industry stakeholders, fund managers, distributors, platforms, data vendors, national associations and policymakers can use the EFC results freely. The classification results can be used to build other applications on (ratings, …) or integrate into stakeholders own systems. The EFC is not targeted at retail investors.
Last validated: 7/17/2026
The openfunds association provides an open, extensible and cost-free standard for the characterization of investment fund data with the aim to facilitate the data exchange across the industry. For more information, visit https://openfunds.org.
Last validated: 7/9/2026
The GAMS DDQ Working Group was established with the objective of enhancing the efficiency, consistency, and transparency of due diligence processes across the investment fund industry. Its primary goal is to develop a standardized framework that enables stakeholders to perform comprehensive and comparable assessments of various industry participants, including asset managers, service providers, and fund structures. By promoting harmonization and reducing duplication in information requests, the Working Group aims to streamline due diligence practices while maintaining a high standard of regulatory and operational scrutiny. The work of the group has been grounded in templates provided by FinSoft, which served as a foundational reference point for structuring the Due Diligence Questionnaires (DDQs). These templates offered a robust and industry-relevant baseline, allowing the Working Group to focus on refining content, aligning terminology, and ensuring adaptability across different use cases and jurisdictions. The GAMS DDQ Standardisation Initiative introduces a modular, cube-based methodology to transform due diligence across the fund ecosystem. By structuring DDQs along three dimensions—functions, entity types, and risk-based depth—it replaces fragmented, bespoke questionnaires with reusable, standardised modules, enabling greater consistency, efficiency, and comparability across the industry. This modular architecture provides significant flexibility: DDQ Cubes can be assembled in various configurations to support targeted reviews or full-scale assessments of any investment fund industry actor. The approach facilitates reusability, reduces redundancy in data collection, and supports digital processing and automation. Ultimately, the DDQ Cube methodology aims to create a scalable, interoperable framework that improves both the quality and efficiency of due diligence across the industry.
Last validated: 5/28/2026
This dynamic prospectus template transforms how fund documentation is created, used and managed. Its approach is adopted by UCITS funds representing over EUR 1 trillion in AUM. This iteration has been designed for the Luxembourg asset management community; if you would like a version tailored to a different jurisdiction, please contact the working group behind this prospectus by clicking the "Who can we contact if we have queries" button at the foot of this page. The template addresses the growing complexity of fund compliance documentation while providing the potential for significant benefits in usability (internal and external), cost efficiency, reviewing/updating time, regulatory approval time and risk management. The template includes "golden source" modules — language for key fund and risk information that is both marketing-grade and legally sufficient, so the same language can be used in the prospectus and in marketing and other fund documents. The template is based on a market-leading approach developed by the streamlined communications firm More Carrot. The formatting, structure and content of this approach have been reviewed and approved by hundreds of professionals in the asset management industry, including in the legal, compliance, product, operations, governance and regulatory areas.
Last validated: 3/6/2026
The Due Diligence Questionnaire (DDQ) for Non-Listed Real Estate Investment Vehicles, assists an investor or consultant in determining, in principle, whether a proposal fits the investor’s investment objectives.
Last validated: 3/6/2026
The Findel UBO Declaration Template is a standardized form designed to collect and document Ultimate Beneficial Ownership information in compliance with EU AML regulations, particularly the Luxembourg AML Law of 12 November 2004 as amended. This template provides a structured approach to gathering essential information about company ownership, control structures, and beneficial owners.
Last validated: 3/6/2026
This resource collection is designed to streamline the process of gathering data required for SFDR precontractual and periodic disclosures as mandated by the CSSF (Commission de Surveillance du Secteur Financier). It provides a structured format for collecting key sustainability-related information about financial products before client contracts are finalized. The questionnaire covers essential SFDR data points, making it easier for financial institutions to compile and organize the necessary information efficiently. By using this template, firms can ensure they capture all required data in a consistent format, simplifying compliance with SFDR reporting requirements.
Last validated: 3/6/2026
In Development
The GAMS AML Working Group is an industry‑led initiative bringing together asset managers, management companies, transfer agents and compliance professionals to develop practical, standardised AML/KYC templates for the asset management sector. Its objective is to improve efficiency, consistency and transparency across the AML value chain by reducing unnecessary duplication and supporting a shared, risk‑based approach. The Working Group’s first deliverable is a standard AML Risk Appetite Statement template, designed to align with Luxembourg and international regulatory expectations while remaining flexible enough to accommodate firm‑specific risk profiles. The GAMS AML Risk Appetite Statement template is intended as a practical industry reference, not a prescriptive rulebook. It complements existing regulatory frameworks and internal policies by providing a shared foundation that supports scalability, comparability and effective AML governance across the asset management ecosystem.
Template for Corporate Actions dividend payment liquidations mergers.
This framework establishes a standardized template for reporting Environmental, Social, and Governance (ESG) metrics across non-listed real estate investments. It covers both fund-level and asset-level sustainability data, streamlining alignment with global regulatory frameworks and industry best practices. Ultimately, the standard aims to facilitate transparent, consistent, and efficient ESG data exchange between investment managers and institutional investors.
This framework provides a standardized template for exchanging quantitative data between investment managers and investors within the non-listed real estate sector. Its scope encompasses comprehensive financial, operational, and performance metrics detailed at the vehicle, investor, and asset levels. Ultimately, the standard aims to streamline reporting processes, ensure data consistency, and enhance transparency across the alternative investment industry.
The ESG SDDS (Standard Data Delivery Sheet) serves as a common language for ESG reporting in non-listed real estate. It standardises how ESG KPIs are calculated and communicated to investors across real estate investment vehicles and portfolios. Developed by INREV through industry consultation, The ESG SDDS provides a framework that supports comparability and transparency by providing a structured approach to reporting.
The GAMS Alternative Fund Term Sheet Template is a standardised, practitioner-developed template designed to support the structuring and documentation of Luxembourg alternative investment funds, particularly those established as SCSp structures (including RAIFs, SIFs, and sub-threshold structures). It provides a non-binding summary of principal fund terms, intended to facilitate early-stage discussions and alignment between sponsors, investors, and advisors prior to the preparation of definitive legal documentation (e.g. LPA, PPM, subscription agreement). Users can: - Use the drafting language as a starting point for negotiation - Adapt modular sections based on the regulatory regime (RAIF, SIF, unregulated) - Remove internal guidance before external circulation - Use the document as a bridge between commercial discussions and formal documentation The template is not legally binding and does not constitute legal advice; users must obtain independent advice before use.
Working Groups
The development of optimised fund prospectus templates aims to fulfil a threefold purpose: 1. Make prospectuses a better tool for the Luxembourg fund industry, including stakeholders such as fund promoters and their clients and the CSSF 2. Use the prospectus as the foundation for a consistent, systematic and effective product disclosure approach 3. Leverage and foster technology for greater efficiency in the analysis, monitoring and dissemination of prospectus content
Working group for managing the promotion of INREV resources
Harmonizing legal frameworks and standardizing documentation for alternative investment vehicles (AIFs) to reduce cross-border complexity and legal friction.
Group working on creating and improving templates for SFDR (Sustainable Finance Disclosure Regulation) data gathering and reporting.
The Working Group aims to rationalise and simplify the process of company incorporation in Luxembourg by developing standardised templates and best practices. The goal is to: - Enhance procedural efficiency while maintaining legal certainty. - Reduce administrative burdens and costs. - Support Luxembourg’s reputation as a reliable and innovative jurisdiction.
Promoting the adoption of the openfunds standard for the cost-free, efficient, and transparent exchange of fund data across the investment industry.
Developing industry-wide Anti-Money Laundering (AML) and Know Your Customer (KYC) standards and templates to streamline compliance and risk assessment for fund managers.
The Working Group aims to improve market efficiency by standardising Due Diligence Questionnaires (DDQs) across the investment fund value chain. The goal is to: - Reduce duplication and administrative burden for service providers. - Provide IFMs with comfort that they are using an industry-standard template. - Enhance transparency and consistency for all actors and underlying investors
Establishing
Questionnaire and reporting templates to facilitate DORA regulatory reporting