Mutual fund portfolio managers are turning over their holdings less frequently, The Wall Street Journal reports. The median turnover, now at 58%, according to Morningstar’s analysis of 3,900 funds, is at the lowest level in at least a decade. At its peak in 2000 and 2001, median turnover was 75%.

And that is boosting returns; funds in the bottom quartile for turnover have delivered between 2% to 3% higher returns than those in the top quartile for the one-, three-, five- and 10-year periods.

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