Hi,
I worked in funds for 5.5 years and qualified as ACCA in that time. I haven't looked back since. It was hard work but it paid off. It opened up a range of opportunities for me, both within the world of fund administation and outside.
I found that my employer looked on me favourably while I was doing my ACCA exams. And I received a nice promotion on qualification. It showed that I was determined, hard-working and was driven. It set me apart from everyone else.
ACCA is relevant to fund accounting - it is a great way to get experence in financial reporting within the industry. Once quaified, you also have the option to move outside the world of funds - thats what I did. This an be quite difficult to do successfully without an accounting qualification.
For me, ACCA was a value-add qualification.
That's my €0.02. Good luck with whatever path you choose. Fair play to anyone that takes on an extra qualification while working full time.