单选题

Which of the following least likely describes an advantage of investing in hedge funds through a fund of funds? A fund of funds may provide investors with:

A、 lower fees due to economies of scale.
B、 access to funds that are closed to new investors.
C、 access to managers with expertise in finding reliable and good-quality hedge funds.

【正确答案】 A

【答案解析】

A is correct because the fees on funds of funds are usually higher. The fund of funds manager charges a fee, and there is a fee charged by each hedge fund.