TY - JOUR T1 - Management Tenure and Risk-Adjusted Performance of Mutual Funds JF - The Journal of Investing SP - 72 LP - 80 DO - 10.3905/joi.2004.412310 VL - 13 IS - 2 AU - Greg Filbeck AU - Daniel L. Tompkins Y1 - 2004/05/31 UR - https://pm-research.com/content/13/2/72.abstract N2 - Longer-tenure fund managers are often thought to provide better returns than shorter-tenure fund managers. An examination using a risk-adjusted performance measure indicates that the longest-tenured managers do show better risk-adjusted performance than shorter-tenured fund managers. These longer-tenured managers also charge lower fees than the others. Lower expense ratios and more time at the helm result in higher mutual fund returns on both a total return and a risk-adjusted return basis. This research extends our knowledge of mutual fund performance covering the entire bull market of the 1990s. ER -