diff --git a/rest_framework/serializers.py b/rest_framework/serializers.py
index 052a766cd..8bb28e3f8 100644
--- a/rest_framework/serializers.py
+++ b/rest_framework/serializers.py
@@ -681,7 +681,9 @@ class ListSerializer(BaseSerializer):
         """
         # Dealing with nested relationships, data can be a Manager,
         # so, first get a queryset from the Manager if needed
-        iterable = data.all() if isinstance(data, models.Manager) else data
+        iterable = data.all() if isinstance(data, (
+            models.manager.Manager, models.manager.BaseManager
+        )) else data
 
         return [
             self.child.to_representation(item) for item in iterable