Fund managers are made up of a team of expert professionals who analyse the behaviour of companies and markets, develop investment strategies and make the necessary decisions to achieve the fund's target returns. In other words, the success of an investment fund is largely reliant on the efficiency of the fund manager.
Fund managers define the investment strategy to follow, seeking out the financial assets that best reflect the needs and interests of the funds they manage. Remember, an investment fund is made up of different types of assets (securities and cash) and it is the fund manager that decides which to buy and which to dispose of.
Another of the functions of the fund manager is to provide detailed information about the investment fund to prospective and existing unit holders.