A professional investor is an individual or organization with the experience, knowledge, and expertise to make investment decisions in investing, such as managing money on behalf of other individuals or institutions. They have knowledge, experience, and resources that typically exceed those of the average retail investor. They may be subject to different regulatory requirements and are often held to a higher standard of care when managing investments. Examples of professional investors include hedge funds, mutual funds, and institutional investors such as pension funds, endowments, and sovereign wealth funds.