By Wangrui ( Morningstar China )

1、A “star” fund managers is whether the brilliant performance of the founders?

Investment research team is the “star” fund managers play a personal capacity (such as stock options) in the solid backing, and the fund managers after-service plays an important role. Remember, the fund manager does not constitute a separation of the redemption fund, it is important to invest in research team strength.

2、Fund managers personal ability or the investment team, who contributed to the greater performance?

Usually, the team of investment decision-making is the intrinsic value of the Fund reflect, and fund managers remain after departuring the cornerstone of good performance.

3、Fund managers departure triggered what is the reason? Cases or a trend?

“Star” fund managers are also facing the lack of incentives for personal reasons, or looking for new challenges, it is the result of human nature. However, if the outgoing phenomenon followed, it is more a trend. Investors should fund managers to the frequent changes in the fund companies to maintain high vigilance, it may be reflected in company funds to keep the team lacks stability, the new fund managers will face the same problem.

4、Who is the new fund managers?

Fund performance can copy? If the Fund to take the team management model, then the fund manager’s departure and the team will not change the collective decision-making and performance of the Fund can be replicable.

5、Fund managers departure, bring about performance drop?

Fund managers departure does not mean the end of good performance. Sometimes, the star fund manager’s departure brought fund performance down; But there are also good fund performance, and strong performance in the history of the situation.

6、The new fund manager’s investment style and philosophy with the investment objectives of clients?

The new fund manager may be more radical operation of the Fund and there is a greater investment style change. Investors may wish to check portfolio investment, Morningstar’s style boxes and investment portfolio perspective can help you.

7、In portfolio with more funds by the same fund manager?

We encourage investors to diversify investment not only in position or investment style spread, but also try to avoid investing in the same fund managers over the funds, so fund managers can reduce the risk of separation, choose a different fund manager of the Fund is to establish a portfolio of principle.

Copyright Fund China 2009.

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