Performance Persistence of Experienced Mutual Fund Managers

Authors

  • Gary E. Porter Assistant Professor of Finance, College of Business Administration, University of Central Florida, Orlando, Florida 32816
  • Jack W. Trifts Professor of Finance, Crummer Graduate School of Business, Rollins College, Winter Park, Florida 32789.

DOI:

https://doi.org/10.1016/S1057-0810(99)80013-4

Abstract

This study examines the performance of 93fund managers over the 10 year period 1986 through 1995 using relative percentile ranks based on quarterly compounded, annual total returns measured against funds with the same investment objective. On average, managers with lO-year track records at the samefund do not perform better than managers with shorter track records. Also, for these experienced managers, superior performance in onefive-year period is not predictive of superior performance over the next five years. However, inferior performance persists, particularly for funds with above average expense ratios.

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Published

1998-03-30

How to Cite

Porter, G. E., & Trifts, J. W. (1998). Performance Persistence of Experienced Mutual Fund Managers. Financial Services Review, 7(1), 57–68. https://doi.org/10.1016/S1057-0810(99)80013-4

Issue

Vol. 7 No. 1 (1998): Financial Services Review

Section

New Original Submission

License

Copyright (c) 1998 JAI Press Inc.

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