Goldman Report Finds Women-Managed Funds Outperforming
A number of media outlets are reporting on a client note from Goldman Sachs citing data that 43% of women-managed funds — as defined by those with at least one third of portfolio manager positions held by women — have outperformed their benchmark this year, compared with just 41% of those managed by men. Of the 496 large-cap mutual funds analyzed by Goldman, with a combined total of $2.3 trillion in assets under management, just 63 funds, or 13%, qualify as women managed. Bloomberg reports that women are still a small minority in the industry, and only 3% of the mutual funds tracked by Goldman have an all-female fund manager team, collectively managing just 2% of total assets. In contrast, 77% are managed by an all-male team, with these funds accounting for 57% of assets. The reports attribute some of the success of the women-managed funds to picks in tech stocks.