Investors unconcerned about gender diversity
Almost half of all individual investors do not believe gender diversity is a major issue in investment management, which could offer an explanation as to why women are underrepresented in all levels of the financial profession, the CFA Institute said.
In its global survey of 5,259 investment management professionals on the issue of gender diversity to date, the CFA Institute found that top female investment professionals held only 17.3 per cent of personal financial advisers or planner roles, 9.8 per cent of chief executive roles, 10.2 per cent of chief investment officer roles, 11 per cent of chief financial officer roles, 14.9 per cent of portfolio manager positions, and 15.1 per cent of investment consultant roles.
The research also found the gender gap in the sector was a reflection of the divide that was evident in homes: 65.9 per cent of women reported they were responsible for 50 per cent or more of family care, versus 22.4 per cent of men.
CFA Institute chief executive, Paul Smith, said: "It's unacceptable that a young woman today might feel that the doors of opportunity in the investment management profession are shut to her simply based on her gender. In 2016, this is something our industry cannot and should not tolerate".
Most female CFA members (70 per cent) and nearly half of all CFA members (48 per cent) diverse gender teams of investment professionals resulted in more diverse view points, while only 12 per cent of female CFA members and 27 per cent of male CFA members believed gender diversity did not matter when managing investments.
However, 46 per cent of retail investors and 45 per cent of institutional investors said gender diversity did not matter for managing investments.
Suggestions to close the gender gap included providing young women early exposure to the investment industry in their university years and early career, stressing the need for gender diversity and its positive impact to investors, and bridging the work-life balance gap that unduly affects women.
AUTHOR
Malavika Santhebennur
Recommended for you
Selfwealth has provided an update on the status of its scheme implementation deed with Bell Financial Group as well as whether rival bidder Svava remains in the picture.
Magellan Financial Group has reported its first half FY25 results while appointing a new chief financial officer and promoting Sophia Rahmani to chief executive.
Schroders Australia has launched two active ETFs and plans to further expand its listed range over the year ahead.
Platform Netwealth has reported its financial results for the first half of FY25, reporting an 80 per cent increase in net flows, with its CEO viewing a “huge opportunity” from private assets.
