Simply put, the management style is the way how the fund manager going to invest your money to make profits. Different style will dictate the return of your investment marginally. On the other hand, choosing mutual funds with different management styles can add a flavour of diversification to you portfolio.

Value - Fund manager study at individual company on indicators such as P/E ratio, P/B ratio or dividend yield to make investment decision.

Growth - Fund manager chooses investments by looking for industry and niche market.

Top-down - Fund manager examine the economy first, narrow down to industries, then focus on individual companies.

Bottom-up - Focus on individual companies.

Sector rotation - Aggressive investment strategy by investing in sectors poised for next significant advances.

Market timing - Another aggressive investment approach by trying to find the best time to make investment decision.