Check your fund manager’s privilege
Yahoo! Finance - 03/18/2016
A 2015 study of hedge funds found that only 2.6 percent in the sample were managed exclusively by women and 4.6 percent name any women as managers, again resulting in a fairly small sample size. There were only 439 hedge funds identified with any women managers over the 20 years covered by the study, carried out by Rajesh Aggarwal and Nicole Boyson of Northeastern University.
Female-only funds do about as well as male-only funds, while mixed-sex teams seem to underperform both male- and female-only funds. What was striking was that among hedge funds that survive (and remember many hedge funds fail in the first few years), those with at least one female manager have better performance than male-managed surviving funds, despite having lower assets under management.
“Using media mentions as a proxy for investor interest, female-managed funds receive proportionately less attention. Our results suggest that there are no inherent differences in skill between female and male managers, but that only the best performing female managers manage to survive,” the authors write.