What advantage he/she has?

Can anyone tell me:

What advantage a fund manager has over a private day trader who is trading 0.5-3 millions $ from home, like Gary Smith?

TIA

 

Hes not risking his own money?

 

He gets a % of assets under management, thus gets paid irregardless of performance.

 

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Fund manager gets to have a much more rigid workk schedule;
private trader or private swing/position trader like Gary Smith could work by appointment.


And like Lescor wrote . at least in mutual funds;
much performance isnt necessary for 7 figures.