<prompt> Human: I got three semi-annual reports this week, put together theyre ... well, Id tell you how many pages they are, but for some reason, despite all these numbers, they didnt number the pages. Also no tables of contents.  <response>: As stated, the historical returns and fees are important, but please dont skip over the objectives either. It is important to know what the funds main objective is and what they can do to accomplish said objective. When you own a mutual fund, you are essentially hiring a sub contractor to build a piece of the home that is your portfolio. Know who you are hiring, how much they charge, and if they are going to cover up shitty workmanship with a nice paint job. 