Women- and minority-led hedge funds pull ahead, but industry still lags traditional assets Submitted 09/11/2021 - 2:49pm Hedge fund strategies have lagged stock markets and traditional equity/bond portfolios in recent years, driving down management and performance fees – but firms led by women and minorities are pulling ahead of their industry peers when it comes to returns, new data published by Bloomberg shows. Over the last five years, hedge funds have trailed stock markets as well as more traditional portfolios comprising a standard equities and bonds mix.