# Due Diligence Questionnaires (DDQs) 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. **Status**: active | **URL**: https://open.gamstandards.com/collections/adea93b5-4b12-4626-9c7b-1b06332b7df9 ## Templates ### DDQ_Luxembourg_RFP and RFI_version 1.1 GAMS RFI & RFP DDQ Version 1.1 - **Version**: 1.0.0 - **Format**: Excel (.xlsx) - **File**: DDQ_Luxembourg_RFP and RFI_version 1.1.xlsx - **Download**: https://open.gamstandards.com/api/collections/adea93b5-4b12-4626-9c7b-1b06332b7df9/templates/81050a2d-5899-4060-97a5-6c4fa2008121/download?inline=true ## Resources and References ### GAMS-DDQ-Standardisation-Initiative (April 2026) Version 1.1 Introducing the Cube Methodology - **Type**: Document (application/pdf) - **Download**: https://open.gamstandards.com/api/collections/adea93b5-4b12-4626-9c7b-1b06332b7df9/references/46b4b198-243d-4471-b2f9-9be946d73e6f/download?inline=true ## Frequently Asked Questions **Q: What is this initiative about?** The GAMS DDQ Standardisation Initiative introduces a standardised, modular approach to due diligence across the investment fund ecosystem. It replaces fragmented, bespoke questionnaires with a reusable framework, enabling consistency, efficiency, and comparability across market participants. **Q: What is the key takeaway?** Due diligence is evolving from: static, duplicated questionnaires to: a modular, reusable, and structured framework — built by the industry, for the industry. **Q: What problem does this initiative solve?** The current DDQ landscape is characterised by: ● Repetitive and duplicated questionnaires ● Lack of standard structure ● High operational burden ● Limited comparability This initiative addresses these inefficiencies through a shared, structured methodology. **Q: What is the core idea behind the methodology?** The methodology is based on a modular approach, where due diligence is broken down into independent functional components that can be reused and assembled depending on the context. **Q: Who developed the methodology?** The initiative is conducted under the GAMStandard Platform, and based on the FinSoft Templates | Industry-standard templates used as the baseline for structuring and developing DDQ Cubes https://www.finsoft.lu. The modular methodology applied is based on an approach originally developed by Rushd Advisors: www.rushd.one. **Q: What is the “Cube Methodology”?** The Cube Methodology is a three-dimensional framework that structures DDQs along: ● Functions → what is being assessed ● Entity Types → who is being assessed ● Depth → level of detail applied This enables both standardisation and flexibility. **Q: Why use a cube structure?** The cube ensures that: ● all relevant areas are covered ● questions are adapted to the entity ● the level of scrutiny matches the need It provides a consistent yet adaptable framework. **Q: What are the “Functions” in the methodology?** Functions represent the areas of activity, control, governance, oversight, or service delivery assessed within the DDQ. Examples include, but are not limited to: ● Governance & Organisation ● Compliance & Regulatory ● Risk Management ● Operations & Internal Control ● IT, Cybersecurity & Data ● ESG & SFDR ● AML / CFT ● Outsourcing & Third-Party Risk ● RFP / RFI ● Data Protection ● Finance, valuation, reporting, and other specialised domains Each function can be developed as a standalone, reusable DDQ module. **Q: Can the framework evolve?** Yes. It is designed to: ● evolve with regulation ● integrate feedback ● improve continuously **Q: What are “Entity Types”?** Entity types refer to the category of organisation or counterparty being assessed. Examples include, but are not limited to: ● IFMs / AIFMs ● Depositaries ● Fund Administrators ● Central Administrations ● Transfer Agents ● Portfolio Managers ● Investment Advisers ● Distributors ● Placement Agents ● Outsourcing providers ● Technology providers ● Other service providers within the fund ecosystem Modules are adapted depending on the entity’s role, regulatory status, and services. **Q: What does “Depth” mean?** Depth reflects the level of due diligence applied, depending on context and risk: ● Initial → high-level baseline for early screening ● Normal → standard due diligence ● Enhanced → detailed assessment for higher-risk or complex cases **Q: How does this replace traditional DDQs?** Traditional DDQs are: ● static ● bespoke ● duplicated The GAMS approach: ● uses reusable modules ● allows dynamic assembly ● ensures consistency **Q: What is the expected outcome?** A scalable, industry-wide DDQ framework that: ● reduces operational burden ● improves transparency ● enables comparability **Q: Is this a commercial initiative?** No. ● Non-profit ● Voluntary participation ● Industry-driven **Q: How are DDQs assembled?** A DDQ is built by combining: ● relevant functional modules ● tailored to the entity type ● with the appropriate depth level This creates a customised but standardised DDQ. **Q: How is the work organised?** ● One working group per module ● Defined leads and contributors ● Cross-functional collaboration ● Centralised tracking **Q: Who benefits?** ● Asset managers ● Service providers ● Due diligence teams ● Oversight and control functions **Q: What is the delivery methodology?** All modules follow a structured lifecycle: 1. Initiation 2. Drafting 3. Review 4. Finalisation 5. Publication **Q: How is consistency ensured?** Through: ● standard structure ● shared methodology ● central coordination ● cross-module alignment **Q: What are the key benefits?** ● Reduced duplication ● Increased efficiency ● Improved comparability ● Better regulatory alignment ## Glossary **FinSoft Templates**: FinSoft Templates | Industry-standard templates used as the baseline for structuring and developing DDQ Cubes. **Thematic Areas**: Key subject domains within DDQ Cubes, such as governance, risk management, compliance, or operations. **Modular Approach**: A design method where components (cubes) can be combined or used independently depending on the need. **GAMS DDQ Working Group**: The industry group responsible for developing and refining the cube-based DDQ methodology. **DDQ Cube**: A modular, self-contained set of due diligence questions focused on a specific thematic area. **Cube Framework**: The overall structure that organizes DDQs into interoperable, reusable cubes. **Digital Enablement**: The ability to integrate DDQ Cubes into technology platforms for automation and analysis. **DDQ (Due Diligence Questionnaire)**: A structured set of questions used to assess the governance, operations, and risks of an investment fund or related entity. --- ## Suggested Workflow To extract data from a document using this collection: (1) Review the JSON schema to understand the data structure and required fields. (2) Download the template file to see the expected output format. (3) Use the glossary terms to understand domain-specific terminology. (4) Extract data from your source document matching the schema fields. (5) Populate the template or produce JSON conforming to the schema.