-performing managers multitask by taking over poorly performing funds or launching new funds. Subsequent to multitasking, funds run by … managers prior to multitasking (i.e., incumbent funds) experience performance deterioration while the performance of the … of the incumbent funds to those of the funds the managers take over. Multitasking arrangements are terminated when …

We examine the determinants and consequences of the multitasking phenomenon in the mutual fund industry where fund … managers simultaneously manage multiple funds. We show that wellperforming managers multitask either by taking over poorly … performing funds within fund companies (i.e., acquired funds) or by launching new funds. We find that funds managed by managers …