What primarily defines the role of a professional fund manager?

The role of a professional fund manager is primarily defined by making investment decisions. This involves analyzing financial markets, evaluating investment opportunities, and selecting the appropriate assets to include in a fund's portfolio. Fund managers use their knowledge and expertise to identify potential investments that align with the fund's objectives, whether those are to achieve growth, income, or a balance of both.

They continuously monitor market conditions and make adjustments to the portfolio as needed to optimize performance and mitigate risks. Fund managers may also communicate with portfolio holders about the fund's strategy and performance.

While managing administrative tasks and minimizing paperwork are necessary responsibilities that come with the role, they are not the primary function. Guaranteeing profits is not feasible in the investment world, as all investments carry inherent risks. Therefore, the essence of a fund manager’s responsibilities lies in making informed and strategic investment decisions to enhance the fund's value over time.