I have to say that I learned from bitter experience to be wary of “managed funds”. I mean, it gives quite a cosy feeling, the idea that you have expert fund managers working on your behalf somewhere to invest your money for you. But you may need to consider that there are limits to what they do. For example, if you buy into an equities fund, then your money will be pretty much fully invested in shares. The fund manager will just adjust the composition of those shares from time to time. But if the stock markets as a whole are in a downward cycle, you’re still going to be fully invested in shares. If you’re lucky, the fund manager might shift you into shares which are falling less quickly than others.
I say this because I moronically invested quite a bit in managed funds at the top of the market. I just assumed that since the fund managers were smart guys with phone-number salaries, they’d know enough to get out of stocks when they started falling. So it came as quite a shock to find that I was fully invested in equities all through the market collapsed. I reckon I’ll probably be retired by the time my funds get back to the price I bought them at.
The other thing to remember is that financial advisors generally only advise you to buy investments that they can sell to you. They wouldn’t, for example, tell you to buy a house or gold or commodities, even though these have performed far better than equities in recent years.