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Manager characteristics: Predicting fund performance

Clare, A. ORCID: 0000-0002-4180-6778, Sherman, M., O'Sullivan, N. , Gao, J. & Zhu, S. (2022). Manager characteristics: Predicting fund performance. International Review of Financial Analysis, 80, 102049. doi: 10.1016/j.irfa.2022.102049


A great deal of research effort has sought to understand whether fund managers have skill. However, most of this research draws inferences from fund returns attributable to funds that may have been managed by many different managers over the years. In this paper we focus on the fund manager. We put together a comprehensive data base of manager returns, including a time series of managers' career returns, concatenating performance from the different funds that a manager may have managed over time. We relate these returns to the characteristics of the managers as we seek to understand whether these characteristics have an impact on: manager skill; manager style; and on performance persistence.

Publication Type: Article
Additional Information: © 2022. This article has been published in International Review of Financial Analysis (IRFA) by Elsevier. This manuscript version is made available under the CC-BY-NC-ND 4.0 license
Publisher Keywords: Mutual fund performance, Manager characteristics, Manager skill, Performance persistence
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
H Social Sciences > HG Finance
Departments: Bayes Business School > Finance
[img] Text - Accepted Version
This document is not freely accessible until 18 July 2023 due to copyright restrictions.
Available under License Creative Commons Attribution Non-commercial No Derivatives.

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