What annoys me most about "funds" is that it is a very lazy way of raising people's money. Most end up as Ponzis, becoming a Ponzi or just fail. Don't get me wrong I like the idea of these "fund" and I would invest in them from time to time but it is so annoying when there are apparently 5 new funds every week just because it's obviously a very lazy job for those who don't know what they're doing. Despite that, I am not saying that all bitcoin funds are scams but it appears that it's very difficult to find one good fund manager, the only people who want to create funds are usually new members or have some other flaws and are likely quite inexperienced.