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Fund Manager Consistency vs Performance — Intelligence Brief
Top trailing returns often coincide with style concentration. Consistency requires checking overlap, category fit, and manager tenure — not 1-year rankings alone.
Key Takeaways
- •Manager change can alter overlap profile.
- •Category rank ≠ portfolio uniqueness.
- •Use overlap + rolling returns together.
FAQ
Should I chase last year's top fund?
Educational view: evaluate overlap, risk, and process fit — not leaderboard rank alone.