Also found in: Acronyms.
A portfolio manager is responsible for overseeing a collection of investments, either for an institution -- such as a mutual fund, brokerage firm, insurance company, or pension fund -- or for an individual.
It's the portfolio manager's job to invest the client's assets in a way that's appropriate to meet the client's goals. A portfolio manager develops investment strategies, selects individual investments, evaluates performance, and rebalances the portfolio as necessary.
Portfolio managers may also be referred to as fund managers or money managers and may be paid fees based on the value of the assets under management, the performance of the portfolio, or both.