b'(and securities regulators) start viewing you as an investment adviser to your companys investors. What Do Investors Expect of a Fund of Funds Manager?Investors expect: That you have fully vetted the asset manager on their behalf and that you are satisfied that they have sufficient knowledge and experience (i.e., a track record of past successes with similar investments) to be able to successfully invest your investors funds. If you dont do this and the deal fails, you might be accused of negligence. Sodont go raising money from your hard-won group of investors to invest in someones first deal. If it tanks, you may have some defending to do.That you have fully vetted the deal and that it makes sense for your investors and matches their investment goals.That you will be minding the storeand making sure that the issuer is doing what it said it was going to do with your investors money, and that the property is being operated competently and profitably. If not, your investors expect that you are taking steps to remedy the problem.That you will keep them informed of activities related to: a) the company that your fund of funds invested in, b) the investment property, and c) you. For instance, if something catastrophic happened at the property or businessyou get to be the bearer of bad news. Or, if you suddenly decide to move out of the of country, or have become 135'