The surprising profile of the perfect hedge fund manager
What does a talented hedge fund manager look like? Is it a 28 year-old man with a bank of computer screens and a thing for protein shakes? Is it a 59 year-old man who became attached to a pet pig? Is it a 42 year-old who retired aged 41 and made a comeback one year later? No. No. And no. On average, it's a woman.
So says some new research from the (possibly biased) Kyria Capital Management firm, an organization whose stated aim is to help women in alternative investment. Even so, Kyria's conclusions are objective. After analyzing performance over a five year basis, it found that 40% of women-run hedge funds achieved returns in the top 5% to 25% of funds, compared to just 20% of male-run funds. Female-run funds were also significantly more likely to be in the top 5% of performers.
Despite their talent for alternative investments, there aren't many hedge funds run by women. Kyria only counted 132 at June 2015, while there are over ten thousand hedge funds run by men. There may therefore be an element of sample bias in the mix: in an industry dominated by men, a woman who runs her own fund will need to be exceptional from the outset.
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