LONDON (HedgeWorld.com)–The Alternative Investment Management Association is releasing improved due diligence questionnaires to aid its membership in selecting managers and service providers.

A lengthy series of questionnaires are available for due diligence on: hedge fund managers; managed futures fund managers/commodity trading advisers; fund of funds managers; hedge fund administrators (for managers); hedge fund administrators (for investors); and prime brokers.

A new questionnaire for selecting custodians, also drafted by the AIMA Sound Practices Committee, will be issued by year-end, according to AIMA officials. The documents are being made available to AIMA members only.

The 2002 versions of the questionnaires were distributed to thousands of companies worldwide and followed the original sets of generic due diligence documents in 1997. Senior industry practitioners reviewed and enhanced each questionnaire, said Dermot Butler, deputy chairman of AIMA and chairman of the AIMA Sound Practices Committee.

“Our aim was to meet the needs of the industry and its investors more appropriately by adding new questions that reflect the improvements in industry practices,” he said.

SBarreto@HedgeWorld.com

Contact Bob Keane with questions or comments at: bkeane@investmentadvisor.com.