Why Gender Diversity Is Important in Investment Management

By: DiversityWorking Press
Date Posted: July 18, 2015
News Source: CFA Institute.org

Investment banking jobs are mostly dominated by men, according to a study done last year, as reported by an article on CNBC, "Male bankers beat females in hedge fund job hunt."

An article by Lauren Foster posted on the CFA Institute blog shares the findings of a recent Morningstar report: “A woman is less likely to be running a US mutual fund than working as a doctor (37%), lawyer (33%), or accountant or auditor (63%). Women are also better-represented in law leadership ranks: 20% of law-firm partners are women, while 24% of federal judges are women. In accounting, 19% of partners in US accounting firms are women.”

The article continues to say, based on the Morningstar report - “Fund Managers by Gender,” - that the ranks of female professional money managers remain very small. Heather Brilliant, CFA, chief executive of Morningstar Australasia was asked during the recent Women in Investment Management Conference in San Antonio where women have an investment edge and where their skills are complementary. She said there was not much of a performance differential between men and women, but added that "unfortunately there were very, very few women to study.”

Despite that, according to her, their research show that teams that have "collaboration and diversity of thought" outperform others with less diversity.

Allison K. Thacker, president of the Rice Management Company, agreed with this.
“Having a diverse team managing portfolios has a far better outcome,” she said. “That has been my experience running a mutual fund business and then moving over to the endowment space. But I will second the comment that there are so few women to study.”

Many other studies collaborate these observation and findings, thus presenting a really strong business case for diversity in the financial industry, yet there is a need to create awareness for this. There is a convincing business case for diversity — not just gender and ethnicity, which is how we typically think about it, but even in terms of introverts versus extroverts on boards, Lauren Foster adds.

DiversityWorking.com, the largest diversity job board online, is a career opportunity resource and job search engine for the cultural diversity marketplace. Through DiversityWorking.com, you can post jobs for veterans who can readily fill your diversity and equal employment opportunity requirements. Visit <a href="http://www.diversityworking.com" target="_blank">DiversityWorking</a> now.

Read the full article at CFA Institute.org

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