Research: female-led investment teams doing better over longer term
/MySuper products led by women have consistently outperformed by 0.3 per cent per annum over three, five and 10 years, a new report by Pooja Antil at Rainmaker shows.
Rainmaker examined 18 female-led MySuper products, where women were in senior positions such as chair, chief executive or chief investment officer, or where most trustees were women. The analysis sample represents $450 billion in funds under management.
The data runs to June 2022, with the following key findings:
Over three years, these funds outperformed by 0.25 percentage points
Over five years, by 0.31 percentage points
Over 10 years, by 0.27 percentage points
Women-led funds held slightly greater concentration of Australian share portfolios
Female-led favoured stocks include BHP, CSL, Commonwealth Bank, NAB and Transurban Group, while male-led favourites were BHP, CSL, Commonwealth Bank, NAB and Macquarie
In sector favourites, women and men favoured materials, banks, energy, pharmaceuticals and diversified financials
Women-led funds had greater structural exposure to the transport, banking, food and diversified financials areas, while male-led funds had greater exposure to healthcare, materials, professional services, energy and media
"The Rainmaker IWD performance analysis shows that funds with a stronger women leadership outperform the industry-wide benchmarks over multiple time periods. The outperformance is not massive, but it's consistent and large enough to have a long-run impact," Antil said.
