Fund callback generally refers to the decline of funds. When the fund rises for a period of time, the decline of the fund affected by the market belongs to a callback, so the fund callback is mainly affected by market conditions.

The rise and fall of funds are mainly influenced by market conditions and the management level of fund managers. When the market is good, the performance of the fund is generally not bad. The fund manager is the main factor for the fund to obtain excess returns. If the fund manager's management level is good, the probability that the fund will get excess returns is greater.