PT - JOURNAL ARTICLE AU - Greg Filbeck AU - Daniel L. Tompkins TI - Management Tenure and Risk-Adjusted Performance of Mutual Funds AID - 10.3905/joi.2004.412310 DP - 2004 May 31 TA - The Journal of Investing PG - 72--80 VI - 13 IP - 2 4099 - https://pm-research.com/content/13/2/72.short 4100 - https://pm-research.com/content/13/2/72.full AB - Longer-tenure fund managers are often thought to provide better returns than shorter-tenure fund managers. An examination using a risk-adjusted performance measure indicates that the longest-tenured managers do show better risk-adjusted performance than shorter-tenured fund managers. These longer-tenured managers also charge lower fees than the others. Lower expense ratios and more time at the helm result in higher mutual fund returns on both a total return and a risk-adjusted return basis. This research extends our knowledge of mutual fund performance covering the entire bull market of the 1990s.