Active management refers to a strategy where investment decisions are made with an aim to outperform a particular market benchmark. It involves regular monitoring and analysis of the portfolio, making adjustments based on changes in market conditions or the fundamentals of individual securities. Active managers use their expertise and experience to actively buy and sell assets in hopes of generating higher returns than passive investment strategies that simply track a particular index. The goal is to add value through skillful security selection, asset allocation, and market timing decisions.