Ann: Net Tangible Asset Backing, page-10

Absolutely that's my expectation. Everybody knows past performance not a predictor of future, markets could be different yada yada yada.
Over the past 10-15 yrs my run of the mill growth fund has returned over 10%, and their fees are negligible.
Risk reward. There is extra risk involved in what they do, you shouldn't expect run of the mill performance and they certainly shouldn't expect that run of the mill performance is sufficient.
If they cant do 10% more than my vanilla growth fund, doesn't make sense.

Now we may of course have 10 years of 0% returns, in which case 10% to 15% will pass muster.