Therefore, investors should select a fund based on its long-term performance, not on the fact that it had one really great year. Consistent performance by the fund's manager, or managers, over a long period of time indicates the fund will likely pay off well for an investor in the long-run. Investing in a fund is not so different from creating your own investment portfolio. The main difference is that here it is experts who try to make your money grow and, as they manage a bigger pot of money, they can implement more efficient and different strategies than you would be able to on your own.