In the News

In the News

The Buy-Side Club named as a founding member of new project aimed at addressing diversity levels in asset management

20th June 2016

The Buy-Side Club is one of the founding members of a new project aimed at solving the diversity issue across the asset management industry “once and for all”.

The Diversity Project officially launched on Monday with the aim of solving poor levels of diversity in gender, ethnicity, socio-economic background, degree discipline, sexual orientation, age and disability. The members will work with business leaders to launch initiatives that will ensure diverse recruitment and the development of new collaborative approaches to solving the diversity crisis.

The project is led by a senior-level steering group that includes Sarah Dudney, Client Partner at The Buy-Side Club, Helena Morrissey, Chair, The Investment Association and CEO of Newton Investment Management, Allianz Global Investors’ Head of Institutional for Europe, Irshaad Ahmad and Carmignac Gestion Managing Director, Maxime Carmignac.

“It’s time for the investment and savings industries to seek diversity in its broadest sense to ensure the industry has the cognitive and experiential diversity needed to be modern, to represent society and to make effective decisions,” Helena Morrissey said.

The lack of women in fund management has been widely reported and described as “unacceptably low.” A Citywire report, Alpha Female, published at the end of May found that just 10% of the world’s fund managers are women. Analysis of its global fund manager database found that 13,488 were men versus 1,562 women.

There is widespread agreement of the benefits of greater diversity and as a result a group of some of the largest investment firms have joined the list of 28 founding members. Other founding members include Aberdeen Asset Management, LGIM, Investec and Invesco Perpetual.

“Since its inception The Buy-Side Club has always seen the merit in encouraging diverse talent to flourish in the asset management industry and we strive to achieve this for our clients. We all recognise the challenge ahead so it is great to participate in The Diversity Project and work collaboratively with major asset managers to ensure this happens,” Sarah Dudney said.