RT Journal Article SR Electronic T1 Selecting Investment Managers JF The Journal of Investing FD Institutional Investor Journals SP 24 OP 26 DO 10.3905/JOI.2009.18.1.024 VO 18 IS 1 A1 Chris Riley YR 2009 UL https://pm-research.com/content/18/1/24.abstract 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