I would be more interested in whether it will outperform in the future, and whether it will outperform before I start moving into more conservative investments.

I would be more interested in whether it will outperform in the future, and whether it will outperform before I start moving into more conservative investments. Given that I'm going to be around a while, consistent but middling performance will eventually outperform inconsistent great performance. I would hate to invest in a managed fund only to have it underperform for several years.