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CFA Study Casts Doubt on Whether Passing Test Is Key to Fund Manager Success

  • Experienced managers perform better, even without charter
  • Managers with technical degrees also outperform, study finds
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Fund managers with a Chartered Financial Analyst qualification are less likely to perform well over long time periods than those who haven’t taken the famously tough exams, according to a study

Researchers looked at the careers of more than 6,000 managers and found that persistent performance was more likely in portfolio managers without a CFA charter, and experience in the market was more closely aligned with a manager’s skill.