What aspect does the structural review of due diligence examine?

The structural review of due diligence primarily focuses on the fund organization and the manager's operations. This aspect is crucial because it assesses how well the fund is set up to achieve its investment objectives and how effectively the manager can operate within that structure. A thorough understanding of the organizational framework allows investors to evaluate the alignment of interests between the fund's management and its investors, as well as the institutional robustness of the fund.

Evaluating the fund organization involves looking at the governance structure, policies, and procedures that guide the fund's operations. This includes examining who makes key decisions and how those decisions are made, which is vital for ensuring sound risk management and operational efficiency. Additionally, understanding the manager's operations—such as trade execution, compliance, and reporting systems—ensures that the fund is not only operationally capable but also adheres to regulatory and ethical standards. Thus, a comprehensive review in these areas helps investors mitigate risks and feel more confident in their investment decisions.

Other aspects like the fund's investment strategies, operational issues affecting the manager, and investment objectives and benchmarks are essential as well, but they do not provide the same deep insight into the structural integrity of the fund and its management that the organization and operations review does.