Tracking Women-Led Funds vs. Benchmarks
January 15, 2020 by Ginger Szala
Women may only account for a fraction of U.S. mutual fund managers, but they have delivered returns similar to funds that lack women managers, according to the Goldman Sachs’ report “2020 U.S. Equity Outlook: United We Fall, Divided We Wise.”
As the paper notes, “While women have voted for a century, their progress in the labor force has been uneven.” The Goldman analysis found that 40% of all employees at U.S.-headquartered S&P 500 companies were women, but “they account for only 5% of CEOs and 21% of directors.”
Drilling down into the mutual fund industry, the skew is similar. Of the 528 large-cap mutual funds analyzed by Goldman, only 15, or 3%, have all-female fund manager teams and collectively have 1% of total assets. In comparison, 409 teams — or 77% — have all-male teams and control 64% of assets.
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