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Laxman Pai, Opalesque Asia: Recruitment into investment teams currently sits at two men per one woman, according to Redington research, suggesting the asset management industry is still dominated by men, despite initiatives to create a better gender balance.
Overall, the study found the average investment team's gender split is 78% male and 22% female, while just 5% of investment teams consisted of more than 40% women.
The investment consultant's 2022 Sustainable Investment Survey, which analysed responses from 122 managers representing GBP 37.7 trillion in assets under management, revealed 97% of managers believed that diverse teams helped deliver a better investment strategy, though, for every one female hire, a manager was, on average, recruiting two men.
Continuing the theme of rhetoric vs. reality, nearly 58% of asset managers agree or strongly agree that their investment teams represent the demographics of the areas where they operate despite only 9% of teams consisting of more than 40% women. 62% of investment teams are more than 75% male - an increase of 4% since last year. Startlingly, fewer than 7% of firms recognise their teams are unreflective of broader demographics.
The common reason cited for the uneven gender split in the financial industry is the challenge of retention. However, this isn't reflected in our survey results: on average, there was no gap in turnover in 2021 between men and women. There is, however, a gender gap in recru...................... To view our full article Click here
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