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Laxman Pai, Opalesque Asia:

Probable sexual harassment at fund portfolio management firms is an increasingly important concern for institutional investors as they seek to allocate assets.

But, according to a survey, most investors are not asking money managers about their record on sexual harassment in the workplace, despite the scrutiny and the #MeToo movement.

A survey by the Investment Management Due Diligence Association (IMDDA) show that just over a quarter, or 26%, of the 78 due diligence officers from institutional investors surveyed by it said they specifically ask money managers about the firm's record of sexual harassment compared to 11% in the organization's 2018 survey.

However, 26% of allocators inquire about sexual harassment in a higher figure compared to just 11% in the previous survey (in 2018).

9% of allocators would still invest with a manager that has workplace sexual harassment issues, vs. 4% in the previous study.

45% of due diligence pros - vs. 18% in 2018 data -- said they would dig deeper if people said they do not wish to answer questions regarding sexual harassment.

The survey reports that 76% of investors say they look at social media data and lawsuit history for possible red flags involving sexual misconduct. That is up from 63% in the previous survey.

The risks of ignoring sexual harassment at investment management firms can be devastating for allocators. These risks include negative media coverage, reputational ......................

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