Article: Keep that revolving door; Article authors argue that rotating through set of managers could be very best way of achieving optimum investment performance.(Money Management)

Byline: Douglas Appell

WELLESLEY, Mass. - You can love your portfolio managers, but you have to be prepared to leave them, according to Howard Present, president and chief executive officer of virtual multimanager portfolio provider F-Squared Investments LLC, Wellesley.

In a recent Journal of Indexes article, Mr. Present, former managing director of global product management and strategy for Evergreen Investments, and Ron Santangelo, a former manager of Merrill Lynch & Co.'s managed solutions and analytics group, argue that the inability of even top portfolio managers to deliver alpha consistently over a full market cycle makes "buy and hold'' a ...

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