What is the function of a fund manager? What is the relationship between fund managers and fund companies?

We often say that choosing a fund is choosing a fund manager. Especially for active funds, the fund manager is the soul of a fund. Why do fund managers play such an important role? For active funds, the authority of the fund manager is very large, and the performance of the fund depends largely on the ability and experience of the fund manager. Basically, it is entirely up to the fund manager to decide what stocks to buy, including positions, and when to sell them. Of course, freedom is relative, and we still have to abide by the relevant fund laws and regulations, and be bound by the fund theme strategy and the relevant regulations of the fund company. For an excellent active fund, besides an excellent fund manager, the strength of the fund company and the investment theme or strategy of the fund are also very important. The successful operation of a fund needs the cooperation of a team. It is difficult to find a Public Offering of Fund manager with strong ability, excellent performance and stability. Fund managers are very important not only for active funds, but also for fund companies. Fund companies are one of the most important institutions in the asset management industry. As an asset management institution, fund companies mainly rely on management fees. Of course, some special account management businesses still have certain performance commission income, but the proportion is relatively small. The management fee is equal to the management scale multiplied by the rate, which is basically fixed and has a downward trend with the intensification of competition. However, the management fees of active funds are generally higher. For example, the management rate of stock funds and hybrid funds is basically between, which is more than three times that of bond funds and monetary funds. Therefore, from the perspective of income, partial stock active funds such as stock funds and hybrid funds are very important to fund companies. The scale of partial stock funds mainly depends on performance, and the scale with good performance will grow faster. The importance of fund managers to funds and fund companies is self-evident.