Why passive investment if there is an active funds like Peregrine Capital who have yielded such a high cumulative return net expense? What's the catch?

Fund factsheet: Microsoft Word - Peregrine Capital High Growth H4 QI Hedge Fund MDD_January 2024.docx (windows.net)

https://preview.redd.it/aarp551o6dmc1.png?width=328&format=png&auto=webp&s=361489760afb6e9f8a3d751e4760f33673a48423

​

​