The answer to the question about the best place to start depends on a number of variables, but first and foremost, the type of entity filling in the questionnaire matters since the appropriate starting places for investment managers*, sub-advisers** and platform providers*** differ. Since this is the subject of the first question in the tree, take a moment to review the definitions below so you understand which category best describes your firm's relationship to the relevant fund/client.
Glossary
* The term "investment manager" for this purpose is meant to capture any entity with the top level, direct contractual relationship with the fund to provide portfolio and risk management and will be considered the sponsor or operator of the fund.
** The term "sub-adviser" for this purpose is meant to capture any entity to which the investment manager has delegated day-to-day portfolio management responsibilities and who is responsible for executing the relevant investment strategy. This entity is one whose contractual relationship with respect to the fund is either with the top level investment manager (not the fund) or with the fund, but there is another entity that has clear responsibility for the operation of the fund. It could include CTAs that are not also the relevant CPO. This entity will have portfolio and risk management responsibilities, but will not be the sponsor or operator of the fund. The consequence of making this selection is that there will be no product module included in the documents suggested as a starting place.
*** The term "platform provider" is used to decribe a specialist investment manager whose business is to host funds/separate accounts (e.g., act as the sponsor or operator of a fund) for third party investment managers, but not to provide day to day portfolio management services. The consequence of making this selection is that there will be no strategy module included in the documents suggested as a starting place.