1. if the fund you selected is fund of fund, then the mangement company will charge you a management fee on top of the fees charged by the original fund house.
The advantage is almost all fund of fund or mirror fund providing daily trade.
2. all investment products cannot be put aside for ten years as market is keep changing. A regular review is definitely good to you.
3. no one can tell you the return of a fund ten years later. As I said, you need to have regular review on your investment product.
4. the risk of the product has to associate with your risk attitude which could be assessed via answer to a simply list of question.
Finally, it would be great to you to consult a professional body such as investment advisor with qualification license.