The asset management industry has long been short of woman leaders. That may be changing, but the pace is glacial. Following a hunch that women may actually be losing posts as fund managers, Morningstar fund analyst Russel Kinnel crunched some numbers; what he found could be considered good news.

Women now hold 12 percent of the portfolio manager slots in the nation's top 200 mutual funds. That is up 50 percent from 8 percent of the slots a decade ago.

While 50 percent growth appears significant, the base is pretty low. Kinnel found that 44 women act as PMs for the largest 200 funds (compared to 329 men). That is up from 28 women holding PM posts at the funds in 1998.

Kinnel points out that the 12 percent figure still does not reflect well on mutual funds. Indeed, 19 percent of those holding CFAs are women, hinting that there is still room for growth.

He also takes the time to highlight some of the most prominent women managing funds. They include:

Sarah Ketterer (Causeway International Value)

Mary Ellen Stanek (Baird Aggregate Bond)

Susan Byrne (WHG LargeCap Value)

Diana Strandberg (Dodge & Cox International) 

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