A study carried out in 2016 showed that only one in five investment funds globally is run by women.
The Morningstar report also revealed that when it comes to the US, Germany, Brazil, India and Poland that ratio rises to only one in ten funds.
As part of our International Women's Day coverage we decided to take a look at the top performing female fund managers running Ucits funds that are available to investors through their domiciliation in Luxembourg or Dublin.
Interestingly, the top three entrants are all based in Asia.
1. Caroline Yu Maurer – BNP Paribas Investment Partners
- Fund: BNP Paribas Flexi III Equity Greater China I Cap/Janus Henderson HF China
- Sector: Equity - China
- 3-year returns: 132.8%
- 3-year ranking: 2/68
Topping our list of leading female fund managers is Caroline Yu Maurer, head of greater China equities at BNP Paribas Investment Partners.
Maurer has been in her current role since joining the French firm’s Hong Kong office in June 2015. Prior to that she worked at Henderson for eight years in both its London and Singapore offices.
Her performance covers her track record running the greater China equity funds at BNP and Janus Henderson. In interview with Citywire dating back to 2016, Maurer shed some light on her approach to investing in her market.
'We are very much bottom-up driven, but are constantly carrying out validation checks to ensure the portfolio aligns with our macro perspective,’ she said.
‘You can pick the right stock, but the weighting and sector allocation need to be supported by the macro view at that point of the economic cycle.
‘The macro view is not about what the Chinese GDP figure is this year. It is more about where we are in terms of the economic cycle, whether the government has intentions to further loosen monetary policy and whether inflation or corporate leverage are heading in the right direction.'
2. Taeko Setaishi – Atlantis Investment Management
- Fund: Atlantis Japan Opportunities
- Sector: Equity – Japan
- 3-year returns: 106.1%
- 3-year rankings: 2/158
A manager for Japanese-based Atlantic Investment Management, Setaishi joined the boutique in 1996 and has been managing its Atlantic Japan Opportunities fund since 2003. She started her career as an analyst at Schroders before joining Atlantis.
In Japanese equities she comes second over three years behind fellow experienced fund manager Hideo Shiozumi from Legg Mason.
Currently holding a Citywire AAA rating, Setaishi looks for undervalued growth companies across the market cap range that can do well for her Japan Opportunities fund over the long term. She also took over the management of the Atlantis Japan Growth fund in 2016.
3. Quynh Le Yen – Dragon Capital
- Fund: Vietnam Equity (UCITS) USD
- Sector: Equity - Vietnam
- 3-year returns: 97.3%
- 3-year ranking: 21/62
Citywire A-rated Le Yen is in third place with her performance in her niche Vietnam Equity fund. She is a director and portfolio manager at Ho Chi Minh-based boutique Dragon Capital, which she joined back in 2007.
Launched in September 2013, she adopts a value investment style for her local Vietnamese equity fund to find companies that focus on their core business, generate healthy cash flow, provide good transparency and comply with ESG standards.
In the fund’s latest end of January factsheet her top sector allocation was towards banking, retailing and materials companies.
4. Anick Baud-Woodtli - BCGE
- Fund: Synchrony (LU) Swiss Small & Mid Caps CHF A
- Sector: Equity - Switzerland Small & Medium Companies
- 3-year returns: 93.9%
- 3-year ranking: 3/31
For our next entrant we leave Asia behind and move to the picturesque Switzerland. Citywire AAA-rated Anick Baud-Woodtli has been with Geneva-based group Banque Cantonale de Genève (BCGE) for 15 years.
She has been running her Swiss small/mid cap fund since 2006 and launched a Ucits version of the strategy in June last year.
Prior to joining BCGE, she worked at Fiduciary Trust as a portfolio manager focused on institutional clients.
5. Fatima Iu – Polar Capital
- Fund: Polar Capital Global Technology
- Sector: Equity - Technology
- 3-year returns: 93.3%
- 3-year ranking: 16/105
From Switzerland we move to the UK to round off our top five best performing female fund managers running Ucits funds.
Fatima Iu works at UK boutique Polar Capital and has been co-running the firm’s Global Technology fund. The fund is run by a four person team, with Iu the second longest serving manager after Ben Rogoff with 12 years on the fund to his 15.
Nick Evans and Xuesong Zhao are the remaining two co-managers having joined in 2007 and 2012 respectively.