People copy other successful businesses all the time. Granted, it takes some time, but innovative business ideas become mainstream if they're successful.
Keep in mind that changing an investment strategy is simply changing the algorithm used. If I was running a fund returning 7% yoy, and yours was returning 10% yoy, you bet I'd be telling my staff to try out your algorithm.
Magellan was the biggest fund in the world until other funds adopted their innovations and it pretty much reverted to the mean.
Sure, but in finance it's not clean. It's not like one fund is getting 10% every single year and the other 7% every single year - there's high variability. The fund that'd underperforming may expect that the other fund's strategy is likely to blow up once every 20 years and thus not be worth it. It takes decades to get statistically significant results, and by then the world has changed.
Keep in mind that changing an investment strategy is simply changing the algorithm used. If I was running a fund returning 7% yoy, and yours was returning 10% yoy, you bet I'd be telling my staff to try out your algorithm.
Magellan was the biggest fund in the world until other funds adopted their innovations and it pretty much reverted to the mean.