The surprising winners from the rise of passive investing? Women
New York — On a chilly Thursday afternoon last month, several dozen women gathered at the Flywheel Sports spinning studio in Manhattan’s Chelsea neighbourhood, donned tights and sneakers, and started pedaling. Just your ordinary pre-weekend exercise class, right? Wrong. The women were part of a growing collection of financial professionals called Women in ETFs, an industry group for 2,700 members who work in the exchange-traded fund (ETF) industry. The event was a charity spin in support of Save the Children and involved satellite gatherings in Boston, Chicago and Washington. All told they raised more than $5,000. Beyond charitable fundraising, cycling offers an apt metaphor for the group. After all, its members are constantly pedaling for equal opportunities for women in finance, traditionally a male-dominated industry. Today, just one in five investment funds globally is run by a woman, a rate that’s remained virtually unchanged since 2008, according to a study by Morningstar. How...
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