Portfolio manager, or PM is a professional who is responsible for making investment choices and carrying out investment operations on behalf of people or institutions that have invested capital. Customers put their money into the PM's investment policy in the hopes that it would increase in the future. This might be in the form of a retirement fund, an endowment fund, or an education fund. PMs are responsible for establishing an investment strategy, selecting appropriate investments, and properly allocating each investment towards an investment fund or asset management vehicle. They work with a team of analysts and researchers to accomplish this task, and they share this responsibility.