基金业绩和风险是投资者选择基金的重要依据，而基金经理是基金投资决策的核心角色，可以说选择基金就是在选择基金经理。 本文利用2012-2022年中国股票型和混合偏股型公募基金的非平衡面板数据，针对基金经理的专业背景与海外背景与基金业绩、风险之间的关系开展研究，采用基金绝对收益率、风险调整后的收益和超额收益衡量基金业绩，采用年化波动率和下行标准差衡量基金风险。结果表明，基金经理是否有理工科背景对基金业绩和风险均没有显著影响，有海外背景的基金经理的基金业绩和风险显著弱于没有海外背景的基金经理。该结论在稳健性检验和内生性检验后依旧成立。 进一步地，本文拆解基金经理的择时能力与选股能力，发现有海外背景的基金经理业绩更差主要是择时能力更差导致的，在选股能力上是否有海外背景没有显著差异。此外，基金经理的海外背景与业绩之间的负相关关系在牛市中更显著，在内资基金公司中更显著。在硬科技主题基金中，有理工科背景的基金经理有更高的超额收益且主要由选股能力贡献，但在控制了其他变量后不显著。在QDII基金中，拥有海外背景的基金经理所管理基金的夏普比率与索丁诺比率比没有海外背景的基金经理显著更高，而在基金风险上没有显著差异。 创新点上，本文利用更长时间和更多维度的个人特征数据进行研究，并进行稳健性检验和内生性检验。学术意义上，本文丰富了国内关于基金经理专业背景和海外背景与基金业绩、风险相关性的专门研究。现实意义上，对有志于从事二级投资工作的应届生而言，本课题对其学业与职业规划有重要指导意义。他们有兴趣了解在二级市场投资领域中，哪类专业、哪类课程、是选择本土高校还是出国留学、是先在海外工作再回国还是直接国内就业更有利于自己的职业发展。对院校而言，研究结果在一定程度上能丰富其招收学生的标准，同时完善课程设置以提高学生的职场竞争力。对基金公司而言，可以完善人才招聘画像。对基民而言，可以在他们日后进行基金投资时，提供基金经理个人特征维度的筛选标准。

Fund performance and risk are important factors for investors to choose a fund, and the fund manager is a core decision-maker of the fund investments. Therefore, it can be said that selecting a fund is essentially selecting a fund manager.Based on the panel data of Chinese equity and mixed equity public funds from 2012 to 2022, this paper uses absolute return rate, risk-adjusted return rate as well as alpha to measure fund performance, uses volatility and downside standard deviation to measure fund risk, and examines the relationship between the fund managers’ professional and overseas background and the fund performance and risk. The results show that whether the fund manager has a STEM background has no significant impact on the fund performance and risk. However, the performance and risk of funds managed by fund managers with overseas backgrounds are significantly weaker than those managed by fund managers without overseas backgrounds. These conclusions still hold after robustness tests and endogeneity tests.Further, this paper divides personal ability into timing and picking ability, finds that the worse performance of fund managers with overseas background is mainly due to their weaker timing ability. In addition, the negative relationship between fund managers’ overseas background and performance is more significant in a bull market or in domestic fund companies. In hard-tech-themed funds, fund managers with STEM backgrounds can earn higher excess returns mainly contributed by picking ability, but it is not significant after controlling other variables. In QDII funds, fund managers with overseas backgrounds manage funds with higher Sharpe ratio and Sortino ratio than those without overseas backgrounds, and there is no significant difference in fund risk.In terms of innovation, this paper utilises more individual characteristics over a longer period to study the relationship between fund managers’ background and fund performance and risk, and conducts robustness tests and endogeneity tests. On the academic level, this paper enriches the specialized research on the relationship between fund managers‘ professional and overseas background and fund performance and risk in China. On the practical level, it provides students aspiring to work in the secondary market with important guidance about academic and career planning, and helps educational institutions to improve their student recruitment standards and curriculum design to enhance students‘ competitiveness in the workplace. Meanwhile, this paper supports fund companies to refine their talent recruitment profiles, and guides investors how to select a better fund based on the personal characteristics of fund managers.