Individual #investors pulled $20 million from #Fisher Investments following billionaire’s #sexist comments #womeninvest

Though retail investors have largely remained, public pension plans said they are divesting more than $3 billion in the weeks following Fisher’s comments.


Individual investors at Fisher Investments transferred $20 million from the firm the week after the billionaire made lewd comments at a conference, according to a research note from Mercer, an advisor to institutional investors.

The development was disclosed on a conference call Fisher executives held on Oct. 14 with Mercer, to discuss the fallout from founder Ken Fisher’s comments at the Tiburon CEO Summit, according to the note obtained by CNBC.

When speaking at the conference on Oct. 8, Fisher had likened winning new clients to picking up women at a bar. He had used similar language at another conference in 2018.

Though the billionaire apologized, institutional investors — including seven government pensions — reacted quickly.

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Billionaire #Buffett says women's place is in investing

Billionaire investor Warren Buffett said Saturday that women ought to have a higher profile in investing.


On the sidelines of the annual shareholders meeting of his Berkshire Hathaway empire in Omaha, Buffett made a surprise appearance at a gathering called Variant Perspectives, organized by a group of women financial professionals aiming to end the imbalance.

"It's long overdue," Buffet said of the goal.

"When someone calls me from the outside with an investment idea, I'm not going to ask what their sex is; it wouldn't make a difference," he added, stressing that: "The stock doesn't know who owns it."

Only three percent of investment funds in the United States are owned by women, according to Variant Perspectives.

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JP Morgan just promoted 117 people to Wall Street’s top rank, including a record number of women #Chase

Of this year’s incoming class of managing directors, 26% were women, up from 18% last year, according to a person with knowledge of the figures.


J.P. Morgan Chase’s Wall Street division just promoted 117 people to its highest rank of managing director, and a record number of women earned the title.

Of this year’s incoming class of managing directors, 26% were women, up from 18% last year, according to a person with knowledge of the figures. Of these 30 women, seven made use of the bank’s maternity leave policy in the past two years, the person said.

Bank CEOs from J.P. Morgan’s Jamie Dimon to Goldman Sachs head David Solomon have said that hiring and promoting women and minorities are priorities for their trading and advisory businesses, which are still dominated by men, especially at senior levels.

For instance, last month Goldman expanded a year-old program to hire more junior bankers from underrepresented groups. By aiming for half of all new analysts and entry-level associates hired in the U.S. to be women, 11 percent black, and 14 percent Latino, the bank hopes that more women and minorities will eventually make it to the firm’s senior roles.

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Do women really make better investors than men?

Although fewer females are in the stockmarket, numerous studies suggest they outperform on returns


Plenty of articles have been written bemoaning the fact that women are less likely to invest in the stock market than men. However, several recent studies suggest that women who do take the plunge outperform men when it comes to investment returns.

So what is the evidence — and what exactly are female investors doing to gain the edge over men?

Warwick Business School conducted a study of 2,800 UK men and women investing with Barclays’ Smart Investor, tracking their performance over three years. Not only did the women that were examined outperform the FTSE 100 over the time period, they also achieved better returns than their male counterparts.

The men in Warwick’s study managed an average annual return 0.14 per cent higher than the FTSE 100, but women outperformed the benchmark by 1.94 per cent, beating men by 1.8 per cent.

A separate study by Hargreaves Lansdown, the UK’s biggest consumer investment platform, also found that women investors had the edge, returning on average 0.81 per cent more than men over a three-year period. Hargreaves points out that if this pattern were to continue for 30 years, the average woman would end up with a portfolio worth 25 per cent more than the average man.

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These investments aim to push for workplace diversity and gender-pay equity

If you want to invest in companies based on how well they integrate women, there are funds that follow that strategy.


If you want to see a better gender balance in the workforce, you may want to consider putting your money where your mouth is.

Enter gender and diversity funds, which screen for certain characteristics — such as women in leadership — and let you back companies that share those priorities.

These are funds that seek to make a measurable impact, alongside financial return, by investing in companies with a record of measuring and improving workplace diversity and equal pay for equal work.

Among U.S. asset managers, there are 15 funds — exchange-traded funds and mutuals — that fall into the gender and diversity sustainable investing category, according to investment research company Morningstar.

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