PT - JOURNAL ARTICLE AU - Chris Riley TI - Selecting Investment Managers AID - 10.3905/JOI.2009.18.1.024 DP - 2009 Feb 28 TA - The Journal of Investing PG - 24--26 VI - 18 IP - 1 4099 - https://pm-research.com/content/18/1/24.short 4100 - https://pm-research.com/content/18/1/24.full AB - 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