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HAS ELVIS LEFT THE BUILDING?

This article probes the emergence and evolution of a culture of celebrity in the field of mutual fund management. After discussing the broad contours of the star-manager trend as well as specific examples from various historical junctures, this paper identifies and evaluates several theories to help explain the rise of celebrity fund managers. Finally, this article also endeavors to assess the importance of this trend, the likelihood of it persisting, as well as the long term impact of a culture of celebrity suffusing the world of mutual fund management.