Similar assessments should be made of the fund team, and any other key personnel involved, as those above for the fund management firm. An investor should gain comfort that there are sufficient resources in all areas relevant to the fund itself and that key personnel have the appropriate experience for their respective roles and to deliver on the aims of the investment strategy. Check resource capacity also and whether any potential conflicts of interest may arise.
As with the firm, assess the stability of the team, as high staff turnover can indicate material issues with the team or the organisation. How the team is incentivised will demonstrate the level of alignment with investors and also indicate their ability to attract and retain the best people.
Listed below are a set of questions that should help draw out this information:
