Résumé
This article comprehensively covers the new field of natural-resources fund-of-funds investing. We will first explain why the demand for such an investment has emerged, and then we will discuss the opportunities that an actively-managed natural-resources fund-of-funds can potentially exploit. Next we will examine the types of risk management analyses that fund-of-funds investors should expect of their commodity managers. And lastly, and perhaps most importantly, we will provide a from-the-trenches view of the crucial due diligence steps that a fund-of-funds investor should follow before investing in this emerging investment field.