So there are two types of enterprises that are trading. Those who invest and are after the price changes -- their entire goal is to buy things that will increa

So there are two types of enterprises that are trading. Those who invest and are after the price changes -- their entire goal is to buy things that will increase in value. And there are those who for some reason have to trade but the price changes are nuisance for them. Like agriculture farmers. They know they will have to sell their produce at some point in the future, but they would very much prefer to know the price in advance because that makes it easier for them to plan and make better choices. Do I plant this or that? When we are talking pensions, this is definitely the first scenario. The large part of the reason to trade is investing (the other is improving supply of money and also helping your businesses have easier time getting funding they need). The about only reason I can come up with is fund managers sabotaging long term returns just to ensure small, steady, more predictable return every year. So that they can their bonuses every year. Maybe another reason is people who do not understand trading? Then more steady returns create the illusion their managers are doing good job.