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Sex Matters: Gender and Mutual Funds

To shed some light on the relationship between men and women and money, Stefan Ruenzi, an assistant finance professor at the University of Cologne in Germany, and one of his Ph.D. students, Alexandra Niessen, investigated the differences among male and female US mutual fund managers in their study, "Sex Matters: Gender and Mutual Funds." They found that female fund managers took less risk and followed less extreme investment styles that are more consistent over time. They also found female fund managers were less overconfident and traded less frequently. However, they also found no evidence that these differences were reflected in fund performance. These and other finding are detailed in a 54-page report which can be found here.