If you think that you do not have the knowledge, time, or inclination to manage your portfolio of investments, you can hand over responsibility for managing your money to an expert fund manager. When you purchase a fund or collective investment, you pool your capital with other savers and pay money managers to make investment choices on your behalf. You choose geography, the asset class, or theme and then the fund managers invest money for you. Damian Maggio says that one of the major advantages of funds is that they allow you to build a diversified portfolio. By investing just a few hundred pounds in a fund, you can get exposure to far more stocks or bonds than you can invest directly in the market. In addition, funds allow you to gain access to a range of geographical markets across the world, a range of specialist asset classes, and a range of industry segments. There are two main structures of funds – open-ended and closed-ended. Open-ended funds: You can redeem cash
Damian Maggio has more than 25 years of experience as a financial services professional and has held high-level management positions including, fund manager, branch manager, supervisory and broker relations at several financial firms over the past 18 years. Damian Maggio has formed FINRA member broker dealers and worked at various sized financial firms where he gained experience in all facets of the financial services industry, from compliance to human resources, to managing customer accounts.