Not surprisingly, skin in the game is a good indicator of fund-manager tenure. But you may be surprised by how much.
According to a new Morningstar study, managers who have invested more than $1 million in their own funds stay twelve years, compared to less than five years for managers who have invested no money at all. Both stock and bond funds with more manager money also had higher star ratings (although this was not a criteria in the rating system.)
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