this is patrick munro, financial adviser.we're talking today about, what is a fund manager. mutual funds are very widely heldfinancial planning instrument, and of course they have a wide variety of sectors that youcan invest your money in. mutual fund companies look to recruit individuals that have expertisein these areas. and a fund manager takes the money that comes into the fund, and usinghis area of expertise, be that in oil, precious metal, real estate, whatever his area of expertiseis, he will take that money and buy stocks that are used to value the investment. andif he does it correctly, buying and selling stocks in the market that reflect the fundsdecisions, he will be a successful fund manager. if he doesn't do so well, he'll be an unsuccessfulfund manager. and in fact 70 percent of mutual
funds miss their lipper averages, so it'sa very challenging field. if you're good at it, you can be recruited away from your fundto another fund, and normally they pay very high bonuses for that type of talent. thisis patrick munro discussing what is a fund manager.
