Are Opportunity Funds reviewed and approved by the government or some other organization?

Simeon Cathey

No.  You should carefully confirm information about an Opportunity Fund before investing.  We feel the most important aspect to investigate is the identity of the people running the Fund.  Who are they?  What is their past experience and how long is their track record?  People who have carefully and effectively built a good reputation over many years will be more careful with your money.  Here is a publication by the SEC about researching financial professionals.  And here is an article from Forbes on the same subject.