Fund industry watchers are used to fund managers churning their portfolios at a higher-than-normal rate during a bull market.
But over the past one year, the industry has witnessed a different kind of churn: that of fund managers themselves, many of whom have got themselves new jobs.
A prominent fund manager leaving one fund house can be quite a loss for mutual fund investors, who draw comfort from their current manager’s expertise and skill. This is especially is true for those funds which are doing well under the present fund manager.
Regardless, the fund industry's churn can attributed to a number of things.
