The financial services industry — and hedge funds in particular — has long been a billionaire boys’ club. According the latest Morningstar research report on fund managers by gender, less than 10 percent of all U.S. fund managers are women, and only about 2 percent of the industry’s $12.6 trillion in assets and open-end funds are run exclusively by women. While women and girls have increasingly been encouraged to get involved in science and math fields, financial services has taken a lower priority when it comes to recruiting and maintaining female employees and leadership. Experts say it’s hard to pinpoint...