I know funds of funds invest other's money into profitable managers that can supposedly beat the index at times and yes it gives returns like equity being that its cash. I even know the ways these funds of funds make money (from the investor, the clients.) How smart is it to work in a funds of funds firm and how is this going to help one's career in the future, being that fund of fund administrators are middle men; what are their vertical career jumps like or do they even have any?
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well, that all depends on what you're after at the end of the stint. it wont open the same types of doors as being a gp or into being a gp for that, but if youre looking to go to fund management, why not. good luck.
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""if youre looking to go to fund management, why not.""
Kindly pardon my ignorance but could you briefly define what you meant by looking to go into fund management. How can being in fund of funds help in fund management ultimately? Thanks.
You can get into fund management b/c in essence that's what you do as a Fund of Funds operator - you monitor the investment strategies and performance levels of Hedge funds, choosing which of them best suit the needs of your clients.
Not the easiest to describe, but you're a Broker - who does not manage money per-se, yet you actively monitor fund performance levels - Thus granting you a foray into the hedge fund world.
Imagine that your job is to pick "Baskets" of Hedge funds in which you clients assets will be best taken care - you're still investing.
If you like PWM or AM, Fund of Funds offers you a more flexible alternative to a larger brokerage firm, as the Funds you are investing in are private, relatively unregulated vehicles with no guarantees of any ROI - Thus removing a fair amount of liability from your end - and also that the clientele who can afford to use a fund of funds are by their own right HNW individuals and Sophisticated Investors - If you manage their money well as an intermediary, they may entrust you to manage their money principally.
That's the best I can do right now. . .
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