%0 Journal Article %A Chris Riley %T Selecting Investment Managers %D 2009 %R 10.3905/JOI.2009.18.1.024 %J The Journal of Investing %P 24-26 %V 18 %N 1 %X 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 %U https://joi.pm-research.com/content/iijinvest/18/1/24.full.pdf