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Investment Management Is Still a Boys’ Club, Goldman Finds

  • All-male teams run 409 out of 528 large-cap mutual funds
  • Women get similar returns compared to their male peers
A pedestrian walks along a street near the New York Stock Exchange.
A pedestrian walks along a street near the New York Stock Exchange.Photographer: Jordan Sirek/Bloomberg

Portfolio management remains largely a band of brothers, new research by Goldman Sachs finds.

An analysis of 528 large-cap mutual funds showed 409, or 77%, had all-male portfolio management teams, strategists led by David Kostin wrote in a note on Nov. 25. Those funds accounted for 64% of domestic equity mutual fund assets.