Shares of the electric automaker have soared by more than 400% this year, compared with a gain of less than 10% in the S&P 500.
“Even after adjusting for risk, female-managed funds have outperformed their counterparts amid the pandemic-related market swings,” Goldman strategists led by David Kostin wrote in a note to clients.
The tech sector “is the largest source of disagreement between female-managed and all other large-cap mutual funds,” they wrote.
Women are still a small minority in the industry. Only 3% of the mutual funds
tracked by Goldman have an all-female fund manager team, collectively managing just 2% of total assets. In contrast, 77% are managed by an all-male team, with these funds accounting for 57% of assets.