There Are More U.K. Mutual Funds Managed by Davids Than by Women
There Are More U.K. Mutual Funds Managed by Davids Than by Women
(Bloomberg) --
More U.K. mutual funds are run by managers named David than by women.
Of almost 1,500 U.K. mutual funds, 108 are run by managers named David or Dave, more than 7% of those strategies, according to data compiled by Morningstar Inc. That compares to just 105 managed by women, the data show.
“It is disappointing to see so few women fund managers in our industry,” Emma Morgan, a portfolio manager at Morningstar Investment Management Europe, said in an emailed release. “It’s a great shame that the industry is missing out on a whole swathe of talented individuals.”
Gender diversity at financial services has remained low and improvements have been slow. Women make up just 17% of people approved by the Financial Conduct Authority to work in the industry, according to a report from the regulator. Investment management is still far ahead of other financial services in gender diversity, with more than 25% of senior manager roles filled by women, according to the report. Brokerages and smaller investment banking firms are the least gender diverse with less than 10%.
To contact the reporter on this story: Lucca de Paoli in London at gdepaoli1@bloomberg.net
To contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, Chris Bourke
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