Mickey Morrissey: Best practice in monitoring funds

Parts of the fund management industry are facing a turbulent time. While some have taken this as a sign of the inherent flaws in active management, really it should instead serve to illuminate best practice in the selection and ongoing monitoring of funds. In particular, it should finally lay to rest the idea that selecting funds is just about finding a manager with a good track record and sticking to them like glue. Recent events serve to highlight a number of under-the-radar elements of fund selection and monitoring. These elements may seem like a side-show for much of the time yet rec...