2023-09-11 17:44:22
The proportion of female fund managers in wealth management rose to 12.1% in the world in 2023, up 0.1 percentage point from the previous year. This emerges from the current Alpha Female Report of the international financial information provider Citywire.
Of the more than 18,000 fund managers listed in the database, only 2179 are women. “The number of women portfolio managers is growing even more slowly than before as a difficult year for the asset management industry turns into an even worse one for diversity initiatives,” says the report’s author, Margaryta Kirakosian.
In the past twelve months, the number of newly launched funds has halved. According to the author, this also reduces the chance for women to manage them. Only 6.2 percent of the newly launched funds were currently assigned to female fund managers or all-women teams, 15.7 percent are managed by mixed teams. Most of the funds managed by women are in Taiwan with a share of 29 percent.
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In addition, women, in contrast to men, often receive smaller and very specialized funds. The average fund volume managed by women is EUR 371 million compared to EUR 558 million for funds managed by men. In economically difficult times, these are more likely to be cut or liquidated than large funds.
Wealth managers often argued that they couldn’t promote women without enough experience, Kirakosian said. However, companies generally do not give women the opportunity to qualify for a promotion.
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