- Should investors seek to understand the structure of the fund and the manager?
- How do I know how to review a corporate structure?
- What details should I look for in an investment management or an investment advisory agreement?
- What kind of governing body should the fund have?
- Should the fund have investment restrictions?
- Should side letter agreements be disclosed?
- How should the performance fees or carried interest be calculated?
- Can the fund restrict redemptions?
- Should the fund have leverage and borrowing restrictions?
- Why is the Total Expense Ratio an important indicator?
- Should the fund have Soft Dollar Agreements?
- Is staff turnover in the manager relevant?
- Who is considered a key person at an investment manager?
- How should the fund's IT infrastructure be protected?
- Who should do the valuation of assets and calculation of NAV?
- How should trade confirmations be handled?
- Should the fund appoint a Prime Broker, a Custodian, and a Depositary?
- What provisions should be in place for cash transfers?
- Should the fund make use of order/execution management systems?
- How should the middle/back office be segregated?
- How should reconciliations occur?
- Who should review and approve the NAV produced by the administrator?
- What is the role of a risk committee at an investment manager?
- Should a manager perform due diligence reviews on its service providers?
- How often should the manager review its compliance systems and controls?
- What topics related to compliance should be covered in training?