Acting on research which claims to show that women make better hedge fund managers than men, US group Pomegranate Capital has announced plan...

Acting on research which claims to show that women make better hedge fund managers than men, US group Pomegranate Capital has announced plans to launch a new hedge fund run solely by women. Pomegranate chief executive Susan Solovay has identified 250 hedge fund managers across the world, and says that their performance is consistently better than those run by men. Ms Solovay has gained backing from private bank Fortress and the Monaco-based Safra family for her female-managed hedge fund, and is currently on a marketing roadshow to win more investors. According to Ms Solovay’s research, male managers tend to produce more volatile results, making big returns one year and poor ones the next. Women managers, in comparison, were able to deliver more consistent long-term growth, although they struggled to raise the same levels of funding as men. The plans for the female managed fund comes as 100 women meet in New York this week for the fifth annual 100 Women in Hedge Funds charity ball. Two senior female hedge fund managers, however, have left their jobs in the last few months. In October, Jolyne Caruso announced she was leaving her position as head of Lehman Brothers’ Absolute Return Strategies business, while Citigroup replaced Tanya Styblo Beder as head of its Tribeca Global Management hedge fund unit in September.