NEW YORK - Women advisors are more risk averse than their male counterparts and, in the wake of the financial crisis, that has proven to be a good thing.
Cathy Smith of Allianz Global Investors center for behavioral research told an audience of 200 advisors at the Women Advisors Forum on Wednesday that women portfolio managers and hedge fund managers have outperformed men over the past five years. Smith said this is a result of the fact that women are more risk averse and tend to hold less risky portfolio positions.
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