A study by a finance professor and one of his research students shows that if you want to save on trading costs, you should invest with female mutual fund managers. “While we cannot confirm whether women are from Venus and men are from Mars, our study at least shows that male and female managers are not very similar,” say authors Stefan Ruenzi and Alexandra Niessen of the University of Cologne. Women are less likely to take risk, and employ less active trading strategies than their male counterparts, the researchers find. However, there are no significant differences in returns between male and female managers, the report concludes. Pinning down a female-managed fund might be difficult, though. The report says only around 10% of funds are run by women.
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