A portfolio manager is an investment professional that takes over the management of an investment portfolio. There are many types of managed investment portfolios: mutual funds, pension funds, insurance funds, portfolios of private clients and other. The managers of all the mentioned investment portfolios can be called a portfolio manager, investment manager or fund manager (in fund case). There is no real difference between a portfolio manager and investment manager (except when investment manager is a company).
The main functions or a portfolio manager is to buy and sell the securities in a proper time, research the markets, meet other managers and the management of companies selected for investment, and represent the fund to the public.
The main goal of the portfolio manager is to beat the market or in more particular to beat the selected benchmark, which is some index that represents the composition of the investment portfolio the best. However, not many portfolio managers really succeed with this goal.
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