What’s a fund manager’s job? One might say it’s to make clever investments on clients’ behalf, or help figure out their financial needs. That’s half right. But it’s not the full picture. The fund manager’s real job, the one that’ll make or break his career, is to attract lots of money to the fund. Smart investments are useful only in that they bring in more money. That’s because fund managers make most of their money from fees on assets under management, rather than for their performance.  This informs the type of funds they start. Fund managers create the funds investors…

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