It is the investment return of the fund during the fund manager's tenure. This is an important reference for examining the investment management ability of fund managers.

The embodiment of fund manager's ability;

1, let's see if you dare to invest, and if you dare to hold a heavy position in a promising industry.

2. Although heavy positions are not equal to betting, even if they are heavy positions, they will be moderately dispersed to improve the risk-return ratio. It is said that when investing, don't put your eggs in one basket, provided that the basket is safe enough.

Extended data:

Investment is a process of constantly weighing risks and benefits and constantly managing risks.

Howard Marx, an investment guru, said that if fund managers want to stand out from their peers, they must build a portfolio different from most investors. When the industry allocation styles of most funds are similar, the relationship between this industry allocation style and performance is not so obvious.

According to the standard that the allocation ratio of a single industry exceeds 20%, about 55% private equity funds will have at least 1 industry, and less than 20% funds will have more than two industries. Moreover, with the increase of the number of heavy industries, the relative performance of the fund ranks higher. The industries that dare to allocate heavy positions are often industries with thorough research and high certainty by fund managers. Therefore, the allocation of heavy positions in these industries can directly reflect the ability of a fund manager.