outperform traditional mutual funds. Most interesting, this superior performance is largely driven by managers with experience in …

managers with "better" ability self-select into joining MS funds and the competition among MS funds results in the rents from …, flexibility, and fee structure between MS funds and FOFs, our results suggest that self-selection by managers with superior …

We examine the determinants and consequences of mutual fund managers simultaneously managing multiple funds. Well …-performing managers multitask by taking over poorly performing funds or launching new funds. Subsequent to multitasking, funds run by … managers prior to multitasking (i.e., incumbent funds) experience performance deterioration while the performance of the …

managers simultaneously manage multiple funds. We show that wellperforming managers multitask either by taking over poorly … performing funds within fund companies (i.e., acquired funds) or by launching new funds. We find that funds managed by managers …

of such “multitasking” arrangements. We find that, despite fund companies choosing more qualified managers to run … greater distraction of managers since underperformance is more pronounced when managers are responsible for more funds or … strategies. Further supporting the distraction hypothesis, multitasking managers devote less effort to their funds. Despite this …