Reuters Italia- Investors looking for better performing hedge funds may want to try putting their money into portfolios run by women or minorities, a new industry benchmark launched on Wednesday shows.
The HFRX Diversity Index tracks returns at firms owned and operated exclusively by women and minorities and shows these managers have long outpaced competitors around the world.
Since 2003, these managers have returned 11.26 percent annually net of fees, said Chicago-based hedge fund tracker Hedge Fund Research (HFR), which created the index.
Global hedge fund managers returned 7.76 percent during the same period, according to another one of the company’s benchmarks, the HFRX Global index.
HFR created the new benchmark at a time loosely regulated hedge funds are attracting billions of dollars in new assets every year from pension funds, endowments and wealthy individuals.
