RT Journal Article
SR Electronic
T1 Management Tenure and Risk-Adjusted Performance of Mutual Funds
JF The Journal of Investing
FD Institutional Investor Journals
SP 72
OP 80
DO 10.3905/joi.2004.412310
VO 13
IS 2
A1 Greg Filbeck
A1 Daniel L. Tompkins
YR 2004
UL https://pm-research.com/content/13/2/72.abstract
AB 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.