Where Do Successful Managers Come From? Evidence on Personal Characteristics, Fund Managers’ Skills, and Performance

Sudipta Majumdar (), Sankalp Bose and Abhijeet Chandra
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Sudipta Majumdar: O. P. Jindal Global University
Sankalp Bose: Indian Institute of Technology (IIT) Kharagpur
Abhijeet Chandra: Indian Institute of Technology (IIT) Kharagpur

Chapter Chapter 8 in Financial Markets and Corporate Finance, 2024, pp 149-166 from Springer

Abstract: Abstract Research on fund management aims to ascertain whether fund performance is attributed to fund resources or the skills of the manager. However, most of the earlier research makes assumptions about manager skills based on fund return as the return of the manager who manages multiple funds throughout their career. In this paper, we examine the impact of fund managers’ personal traits, such as age, gender, education, and experience, on their managerial abilities. We compile an extensive dataset of returns attributable to managers by sampling fund managers of Indian origin. This dataset encompasses returns accumulated over the career trajectories of managers, amalgamating performance from the diverse range of funds they have overseen throughout their tenure. The findings demonstrate that manager skills are enhanced by undergraduate technical degrees and CFA certification but are diminished by manager age and experience. This study presents findings on how fund managers’ individual traits in determining manager skills, which remains largely uncharted, particularly when viewed through the lens of emerging markets.

Keywords: Fund manager; Manager skills; Manager age; Manager education; Career experience; G11; G12; G41 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-981-97-6242-2_8

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DOI: 10.1007/978-981-97-6242-2_8

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