https://www.morningstar.com/articles/959082/strong-performing-bond-managers-may-have-better-odds-of-future-success Strong-Performing Bond Managers May Have Better Odds of Future Success
This study finds evidence that bond managers' risk-adjusted gross-of-fee performance tends to persist.
Alex Bryan, CFA
Dec 11, 2019
How much do active bond managers' performance records say about their odds of success in the future? Fund flows suggest investors give a lot of weight to past performance, often interpreting a strong record as a sign of manager skill that should continue to benefit fund investors. However, managers often take very different levels of risk from their benchmarks and each other.
