Given that technology and internet companies have come to dominate market - cap weighted indexes, a 10 % restriction on individual holdings is a necessity
for real diversification.
A REIT tracks very closely to the stock market so you really don't
get real diversification; it's the same roller coaster.
If the fund is doing something truly unique,
adding real diversification to your portfolio by being uncorrelated to your existing investments, and posting good returns, high fees might be completely reasonable.
«Still, it is going to be helpful to make sure your investment options offer a sufficient chance for
real diversification, and the fees must be appropriate.»