Mutual Fund Portfolio Manager Arrangements and Performance

2013 ◽  
Author(s):  
John A. Haslem
Keyword(s):  
Mutual Fund ◽  
Portfolio Manager ◽  
And Performance ◽  
Fund Portfolio

You’re Fired! New Evidence on Portfolio Manager Turnover and Performance

2015 ◽  
Vol 50 (4) ◽  
pp. 729-755 ◽  
Author(s):  
Leonard Kostovetsky ◽  
Jerold B. Warner
Keyword(s):  
Mutual Funds ◽  
Mutual Fund ◽  
Previous Literature ◽  
Fund Management ◽  
Management Performance ◽  
Managerial Turnover ◽  
Portfolio Manager ◽  
And Performance ◽  
New Evidence ◽  
Manager Turnover

AbstractWe study managerial turnover for both internally managed mutual funds and those managed externally by subadvisors. We argue that turnover of subadvisors provides sharper tests and helps address several unresolved issues and puzzles from the previous literature. We find dramatically stronger inverse relations between subadvisor departures and lagged returns, and new evidence on how past flow predicts turnover. We find no evidence of improvements in return performance related to departures, but flow improvements are associated with departures of poor past performers. Our findings represent new evidence on how investors, sponsors, and boards learn about and evaluate mutual fund management performance.

The Quality of Mutual Fund Portfolio Supervision

1950 ◽  
Vol 6 (4) ◽  
pp. 32-36 ◽  
Author(s):  
William D. Carter
Keyword(s):  
Mutual Fund ◽  
Fund Portfolio
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