Gender and Mutual Fund Liquidity

Saba Sehrish, Muhammad Abubakr Naeem, Sitara Karim, Larisa Yarovaya

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)


We examine whether US mutual funds managed by females have a higher portfolio liquidity than those of their male counterparts. Single female managers’ holdings are 8–25% more liquid than those of single-male-managed funds. When there is a transition from a male to a female manager, fund holdings liquidity increases compared with a male to male transition. The findings are consistent with the risk-averse and conservative decision-making behaviour of female managers. We do not find evidence to support the excessive trading hypothesis that predicts a higher portfolio liquidity for overconfident male fund managers. Our findings add to growing evidence that gender affects professionals’ investment choices.

Original languageEnglish
Pages (from-to)729-749
Number of pages21
JournalBritish Journal of Management
Issue number2
Publication statusPublished - Apr 2024

ASJC Scopus subject areas

  • General Business,Management and Accounting
  • Strategy and Management
  • Management of Technology and Innovation


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