July 26, 2021
That headline wouldn't be news in the pages of Bon Appetit, but represents an overlooked trend on Novus's Women-led Funds dashboard.
According to regulatory filings, these funds overwhelmingly limit their exposure to any one name to the 3.5%-5.0% range. Those positions account for 92.3% of their portfolios. Compare that to five and a half years ago, when that proportion was 36.5%. Back then, women-led funds preferred exposures in 5.0%-7.5% range, and a significant amount of positions accounted for more than 10% of portfolios.