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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n