The only requirement to create a Fund or Program is to have a 50 USD value to start one. The full value is still your own, and you only pay a small fee to the platform on each investment you make. (0,5% i think).

From there, the fund creator/manager can set an entry fee and an exit fee, that will go to the creator manager account.

From my understanding those funds work in a way like SMTs or hive-engine tokens. Am I correct?

I still have to do a deeper research to see how everything works under the hood, but Genesis vision works more as an exchange, but with extra options beyond only buying and selling coins.

But if you are thinking about a fund that somehow would work as a security/stock for a project, that is not what it is.

All the investments/trading can only be dealt with cryptos that are already on the market (or forex assets).

Here is a suggestion that could work for project.hope: A community defined fund, where the participants of the community vote for what coins should be on the fund every month, through a vote.

Then, whatever profit that comes from the new investment of the funds (entry and exit fees) could be redirected to buy more HIVE to the project.