International Women’s Day: Companies and Female Fund Managers to Know

In honor of International Women’s Day, we’re celebrating strong pay practices and the achievements of women in asset management.

Women make up a smaller percentage of upper management than their proportion of the population: A 2025 global Equileap survey found that women made up 22% of executives and 27% of senior management positions.

Our coverage recognizes female fund managers around the world who are worth considering for their merit. We also highlight companies that are pursuing pay equality while scoring well on Morningstar financial metrics.

Top Female Fund Managers From Around the World

A recent Morningstar survey found that women filled 18% of portfolio manager roles and 26% of analyst roles, on average.

Another report looks at women portfolio managers who deserve investors’ attention for their proven skills and consistent performance. They have earned High or Above Average People Pillar ratings, a comprehensive evaluation of a strategy’s investment team.

In the United States, Nataliya Kofman and Loren Moran lead the charge at the $2.4 billion Vanguard Global Wellington VGWAX. Kofman has led the fund’s equity sleeve since its 2017 inception, and comanager Moran leads its bond side. An investor who put $10,000 into the fund when it started in November 2017 would have had about $16,700 at the end of February 2025—almost $3,200 greater than the typical global allocation Morningstar Category peer.

Our coverage also highlights 28 other high-achieving US fund managers.

In Asia, J.P. Morgan veteran Joanna Kwok is a proven stock-picker with a knack for identifying successful companies in their nascent stages. We see her as a best-in-class Asia ex-Japan small-cap investor. Star managers like Schroders’ Julia Ho and Capital Group’s Winnie Kwan also have led their respective funds to success.

In the United Kingdom, Saida Eggerstedt manages dedicated sustainability portfolios as Schroders' head of sustainable credit. During her tenure, Schroder ISF Sustainable Euro Credit has achieved consistent outperformance compared with peers and its category index, driven predominantly by strong security selection.

Capital Group’s Hilda Applbaum is a distinguished senior portfolio manager and principal investment officer responsible for coordinating sleeves of Europe-domiciled multimanaged funds. The bulk of her outperformance has come from skilled stock selection within a high-conviction approach.

Overall, 143 EU- and UK-domiciled active funds with female managers on the roster received High or Above Average People Pillar ratings.

Looking beyond active management, we also recognize outstanding women in the exchange-traded fund industry. One leader is Deborah Fuhr, managing partner of ETFGI. Her many accolades include being named among the “100 Most Influential Women in Finance” by Financial News.

Leading Companies With Equitable Gender Practices

Effective human capital management, which includes factors like compensation, can be material to investors. A well-managed workforce supports growth, while employee neglect may lead to decreased productivity. Research shows a correlation between employee satisfaction and shareholder returns.

For International Women’s Day, we revisited three companies that we recognized in 2024 for their strong pay-equity practices. All three have maintained their economic moats, which help companies fend off competition and earn high returns on capital for many years to come. We also looked at three new companies with strong pay-equity practices.

When recommending portfolio adjustments, advisors should still prioritize the clients’ goals above all. Accurately identifying those surface and deeper goals can help advisors find a place to naturally incorporate values-based considerations when clients want them.