Team-managed large funds in China perform poorly, impacting equity fund performance.
The study looked at how Chinese equity mutual funds perform and how the managers' attributes affect their performance. They used different methods to measure fund performance. The results showed that having a team managing a large fund can lead to worse performance. Funds managed by experienced managers perform worse than those managed by newer managers. Also, larger funds tend to perform worse. Only managers with Master's degrees have a positive impact on fund performance in China.