How does everyone choose their managed funds? Do you have a checklist of things to look for before purchasing units? Perhaps it is performance since inception or looking at the fund manager’s history. I’m looking to help a friend purchase some managed funds, I have a couple myself, however, I picked them by just looking at the sector/asset class and 5-7 year returns. I’m not going to tell my friend what to by as I’m only a novice myself, but I’d like to be able to give them some advice on what to look for in a fund. I did a search and have seen that a few of you don't pay too much attention to the Morningstar ratings but I’m sure you still have an extensive criteria for selecting a fund, if you were willing to share I’d be most grateful.