(Bloomberg) -- Hedge funds not controlled by white men had returns almost double their peers the last three years, according to a Bloomberg analysis of hedge fund data.
Within Bloomberg's database of 2,935 funds, the analysis found 35 managed by minorities or women and compared them with 908 peer funds. The database includes over 65% of the industry's top 1,500 managers by assets under management.
Hedge funds either controlled or managed by a minority or female leader had a return of about 6.6% over the past three years, compared to about 3.9% for their peers, the analysis of Bloomberg's hedge fund database found.
Macro funds, which invest in broad, global trends, had the biggest disparity. During the past five years, the funds not managed by white men outpaced their peers by about 41%, the data showed.
--With assistance from James Munro and Cara Slear.
To contact the reporter on this story: Jeff Green in Southfield, Michigan at jgreen16@bloomberg.net
To contact the editors responsible for this story: Rebecca Greenfield at rgreenfield@bloomberg.net, Philip Gray
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