Performance of managers vs peer group over 3-yrs
| Manager |
Funds managed |
Manager 3-yr returns (%) |
Peer group 3-yr returns (%) |
| Liz Evans |
Cavendish Asia Pacific |
44.8 |
42.9 |
| Jenny Jones |
Schroder US Smaller Companies, Schroder US Mid Cap |
52.8 |
59.3 |
| Mary McBain |
CF Ruffer Pacific |
36.7 |
8.3 |
| Sue Round |
Ecclesiastical Amity UK |
59.6 |
53.9 |
| Jennifer Sculley |
Consistent UT |
31.7 |
18.5 |
| Elena Shaftan |
Jupiter Emerging European Opportunities |
70.9 |
65 |
| Elaine Morgan |
Kames UK Smaller Companies |
76.2 |
89.7 |
Source: FE Analytics
Of the seven who are now FE Alpha Managers, two have held the title since the award’s inception four years ago: Elaine Morgan and Jenny Jones.
Performance of fund since launch vs sector
Source: FE Analytics
Morgan’s Kames UK Smaller Companies fund has returned the most from the sample over a three year period. While it has lagged the average fund in the IMA UK Smaller Companies sector over the past year, her longer-term track record is stronger. The fund has returned 53 per cent since launch.
While this year more women have achieved FE Alpha Manager status, which is awarded to the top 10 per cent of fund managers, industry experts say the industry still isn’t a level playing field.
"We obviously don’t have the same number of leading female fund managers working at the moment as we do men," said Philippa Gee, manager of Philippa Gee Wealth Management.
"However I don’t believe this is any deliberate move and that, over time, the balance will be better. Historically the job involved long hours, being office-based, or visiting companies and regions. Now it is possible to work from home and use technology in all sorts of ways, so this could prove helpful."
Sylvana Caloni is president of Women in Banking and Finance, and was the first female fund manager at Bankers Trust Australia.
She says the disparity between men and women is not confined to the fund management industry.
"In more testosterone-driven areas it is not uncommon for there to be fewer women. There is the initial problem of feeders into the industry; courses at university which are well suited to analysis and understanding numbers are typically done by men," she said.
Caloni added: "You need someone to endorse you – if you want to get ahead you need a network. There have been relatively few women role models – role models are important. Newton’s chief executive Helena Morrisey and city ‘superwoman’ Nicola Horlick are both extraordinary women. But we need more of the ordinary being extraordinary to encourage people."
She says that some parts of fund management are actually more amenable to women, particularly the buy-side, which involves the careful study of balance sheets, research and buying to hold.
"Women shouldn’t be demoralised – they have the capability but it’s about confidence, putting yourself forward and stepping up to the role," Caloni finished.