Committee Management at Mutual Funds

                       

We recently blogged about Investor, mutual fund manager risk.  This occurs when choosing an investment portfolio that's fully and actively managed.

                       

To choose managers, investors rely on past performance which is not reliable, as evidenced by independent research.

                       

Furthermore, many funds use a staff or committee system of managers, not a single individual. Individual managers on staff come and go, in a game of musical chairs. So what management is really being evaluated? (See the Earl J. Weinreb NewsHole® comments and @BusinesNewshole at Twitter.)