TY - JOUR T1 - Selecting Investment Managers JF - The Journal of Investing SP - 24 LP - 26 DO - 10.3905/JOI.2009.18.1.024 VL - 18 IS - 1 AU - Chris Riley Y1 - 2009/02/28 UR - https://pm-research.com/content/18/1/24.abstract N2 - This article explores the relationship between manager quality and future performance and concludes there is only a weak relationship between the two. High quality managers tend to attract capital which acts as a drag on their returns and hence restricts their ability to outperform. Therefore, the most important factor to be considered when assessing managers is unrecognized quality rather than quality alone; there is greatest scope for fund analysts to add value by undertaking research within the universe of smaller managers.TOPICS:Manager selection, performance measurement, exchanges/markets/clearinghouses ER -