The title of portfolio manager can be confusing for investors of all ages and levels of experience. To help put a stop to this confusion, U.S. News & World Report recently turned to Sawchuk Wealth Founder and Chairman Terry Sawchuk to learn more about what exactly a portfolio manager does.
According to Sawchuk, “an active fund manager often works with a team of analysts to help with research and come up with investment ideas. The portfolio manager narrows those ideas down to the investments that are most consistent with the fund’s objectives.”
Regarding the qualifications of a portfolio manager, Sawchuk says some of the most important skills include discipline and a steady temperament. “The most successful money managers are those that have a plan and stick to that plan,” he explains. “The market will try to push you away from the plan, and all kinds of events can happen. A logical mind may want to walk away. But if you want to build systems, you have to stick to the system, and it’s not easy to do that as human beings.”
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