The turnover ratio is a measure of the amount of churn in a fund's portfolio. If the fund manager churns or changes the portfolio once during the year, it will have a 100 per cent churn. If he churns only half the portfolio, it will have a turnover ratio of 50 per cent. And if he churns it twice in a year, it will have a turnover ratio of 200 per cent.
In the matter of turnover ratio, the best thing to do is to stick to the mean. A very low churn can at times (though not always) be indicative