It must have been galling for business women over the decades, perhaps even the centuries.
Watching the men saunter into the business establishment, patronize the women staff, say a half-dozen inappropriate things -- some related to some sports nonsense or whatever -- and then do a lousy job running the business. And despite this stunning, inspiring performance, the dudes still get all the investors and the higher salary.
Now women are getting their payback, and it has every right to be a bitch.
The vehicle for this movement comes in the form of a number of fund and index launches, according to the Wall Street Journal
Such initiatives include the Barclays Women in Leadership Total Return Index
and the Barclays Women in Leadership ETN
launched in July and the Pax Ellevate Global Women's Index Fund
launched in June and developed by Sallie Krawcheck's Ellevate Asset Management
in a partnership with Pax World Management
Moreover, according to the WSJ
article, both Bank of America's U.S. Trust unit and Morgan Stanley Wealth Management maintain customized portfolios that take gender into account.
Some would argue that this is being PC for the sake of PC, which might be a viable argument if it weren't for the stats. The WSJ
article cites Eve Ellis of Matterhorn Group at Morgan Stanley, who is co-manager of Morgan's portfolio. She told the Journal
that research from multiple sources which shows that companies with more women on their boards have stronger finances.
This growing focus on women-led companies will inevitably lead to more focus on women-led PMs and fund executives, including the fact that we simply need more of them.
It should also force many industries as well to answer this simple question: So just what do dudes bring to the table anyway?
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