AIMA, together with leading digital asset investors and industry experts, has today published a new set of due diligence questionnaires (DDQs) for digital asset investment managers and funds.
The release is timely given the increased scrutiny of the risks involved when allocating to digital assets and investors’ heightened demand for transparency. These DDQs have been primarily designed for investors to evaluate the unique investment and operational risks that come with allocating to digital asset investment funds. It will also assist investment managers in the space to meet investor demands for transparency more efficiently by creating a comprehensive standard template for information sharing. There are versions for open-ended funds as well as closed-end fund vehicles so that these templates can be used by hedge fund, venture capital and hybrid funds.
The questionnaires address: strategy, trading, risk management, leverage, liquidity risk, fund service providers including custody, costs and expenses, performance and valuation.
Managing Director, Head of Americas, AIMA
Director, Asset Management Regulation, AIMA
Contributors to the Digital Assets DDQ Modules
- Gail Mac Kenzie - Edmond de Rothschild Asset Management
- Henri Arslanian - Nine Blocks Capital Management
- Jasmine Burgess - One River Digital
- Jennifer Murphy - Runa Digital Assets
- John D’Agostino - Dagger Consulting (and Co-Chair of AIMA’s Digital Assets Working Group)
- John Ward – Kroll, LLC
- Jonathan Gilmour – Travers Smith LLP
- Justin Feldman - Stable
- Katherine Sullivan - Brevan Howard
- Kim Waldman - Withum
- Michelle Perry - Galaxy Digital
- Mitchell Dong - Pythagoras Investments
- Nicole Dyskant - Hashdex
- Nick Dimitriou - GSG
- Steven D'Mello - Albourne Partners
- Thomas Barton - Trovio
- Wendy Beer - Azimuth Governance
- Yelena Nemenko - Coinbase
Access the Modules
AIMA has developed a set of DDQ modules for use with respect to digital assets funds. Managers should complete the Short Form Manager Module (2019) with respect to their activites and either the Digital Assets Open-End Fund Module (2023) or the Digital Assets Closed-End Fund Module (2023) with respect to the fund.
Managers using a models or systematic trading, fund of funds, private equity or illiquid credit strategy should see the respective linked pages.
Digital Assets Working Group
AIMA’s work in digital assets is overseen by our global Digital Assets Working Group (AIMA DAWG). The AIMA DAWG is a cross-section of senior industry experts including fund managers, allocators, custodians, exchanges, lawyers, consultants and other service providers. The group is tasked with driving AIMA’s regulatory engagement, thought-leadership initiatives and operational guidance in the area of digital assets.
AIMA has also set up digital assets sub-groups on taxation, regulation, operational due diligence, and cybersecurity.
If you would like to find out more about AIMA’s digital assets work, please contact:
• Michelle Noyes, Managing Director, Head of Americas;
• James Delaney, Director, Government Affairs
We will be hosting a webinar on Digital Asset Due Diligence on Wednesday, March 1st that will cover practical details on the DDQ as well practical insights from global allocators and investment managers on this theme.
Date: Wednesday, March 1
Time: 9:00 am - 10:00 am (ET), 2:00 pm - 3:00 pm (GMT), 10:00 pm - 11:00 pm (SGT)
- Kevin Coll, Chief Operating Officer, Great South Gate Asset Management
- Jasmine Burgess, Chief Operating Officer One River Digital
- Michelle Noyes, Head of Americas, AIMA
- Michelle Perry, Head of Operational Due Diligence, Galaxy Digital
- Nick Dimitriou, General Counsel and Chief Compliance Officer, Great South Gate Asset Management
- Steven D'Mello, Partner, Operational Due Diligence, Albourne Partners
- James Delaney, Director, Asset Management Regulation, AIMA