Statistical methods of strategic portfolio management for fund of funds A “fund of funds (FoF)” is an investment fund that invests in other investment funds rather than investing directly in shares bonds or other securities. Sometimes referred to as multi manager funds these investment funds pose apart from the challenges that arise for every portfolio to be managed special problems to their management teams. Most of those must be addressed with appropriate statistical or mathematical methods. We show how this may be done using among others both state of the art tools like post modern portfolio optimization as well as using accessible and comprehensive representations.