Why are there so few women in finance and even fewer managing funds? There is a major discrepancy between the
number of female and male fund managers worldwide. The aim of this paper is to
ascertain if gender is a contributing factor to fund managersí performance. This
is examined through analysis of data from 2012-2022 attained from eight major IA
sectors of funds (Asian, European, North American, UK All Companies and UK
Income equity funds; Targeted Absolute Return, Sterling Corporate Bond and 40-85
Sector funds) which are available to UK retail investors. This paper aims to
compare the performance of all funds in the data pool with funds that involve
one or more female managers through a quantitative and qualitative analysis. There
is no significant research on the performance of women fund managers for UK
investors. The authors intend to fill this gap with this paper. We find that
funds managed by women or mixed teams produce similar and sometimes better risk-adjusted
returns than male-only managed funds but are few in numbers and find it difficult
to raise significant amounts of assets.
JEL classification numbers: D61, G11, G14, J16, M14.
Keywords: Gender, Investment, Asset Management,