How do funds work?

Eco_Miser

Quite, but that's nothing to do with it being a zero-sum game.

Orwell

Top fund managers aim to get their funds into the upper quartile. The darts analogy only works when you include all the third-rate fund managers and zombie funds.

Gadfium

Anthony Bolton?

bigadaj

Orwell wrote: »

Fund managers aim to add "alpha" which means performance in excess of the benchmark index.

Some achieve this, some don't. The idea that Woodford (for example) just invests at random is naive.

I've got a range of funds; that with the highest alpha rating is my legal and general pharma tracker, not too much manager skill in that.