Citywire: Percentage of female fund managers starts to rise again

September 16, 2024

Diversity

Overall numbers show some improvement, but launches and turnover still hold back progress.

Progress towards gender parity in investment management has picked up again, Citywire’s Alpha Female Report 2024 has revealed. While last year’s report showed progress at a virtual standstill, over the past 12 months the headline figure for women in portfolio management roles has risen from 12.1% to 12.5%.

There was more positive news as the report also shows a significant jump in the average portfolio size run by female managers, but the lion’s share of new launches continue to go to men.

The data, which draws on Citywire’s database that tracks 18,141 portfolio managers globally, raises questions about the extent of asset managers’ efforts to support and retain women, and comes against a backdrop of higher rates of turnover across asset management.

Nicola Blackburn, Citywire’s Alpha Female project leader, said: ‘After a period of stagnation the number of female portfolio managers is on the rise. However, the pace of change remains much too slow if the industry is serious about achieving gender parity. With a predominantly male talent pool, too few women are being appointed to new funds, and firms are struggling to retain women in senior portfolio management roles.’

‘However, it is encouraging to see firms’ asset pools growing and new funds being launched this year. As cost pressures across asset management ease, firms have a significant opportunity to grow their numbers of female managers. We would hope to see that progress reflected in the coming years.’