It is not uncommon for a mutual fund manager to hop from one fund house to another for a better opportunity. However, this does not necessarily mean that your fund's performance will suffer. Most fund houses hard-code the entire investment process, so that a new fund manager can quickly adapt to the fund house's investment process. Also, most schemes are run with co-fund managers. The second fund manager can smoothly take over the fund if there is any exit. If your fund's performance was down to a star fund manager's stock-picking skills, then monitor the scheme's performance after her exit. Also, check the new fund manager's pedigree.