New white paper highlights latest diversity data and insights in asset management
The majority of key professional positions at asset management firms around the world are largely held by white men, at 54.07 per cent, according to data supplied by these firms to eVestment.
The second largest group of key professionals are Asian men, at 12.44 per cent, followed by white women at 9.11 per cent. Black males only make up 1.73 per cent of key asset management professionals and black women make up just 0.55 per cent of key asset management professionals.
A new Nasdaq white paper, “Diversity, Equity & Inclusion: The Path to Transparency,” looks at this and other findings and trends in diversity, equity and inclusion (DEI) in asset management. The paper pulls insights from a variety of industry sources, including consulting firm Verus, the Institutional Investing Diversity Cooperative, the California Public Employees’ Retirement System, the CFA Institute, investment trade association Nisca, eVestment and Nasdaq Investment Intelligence, and offers a look at where the industry stands and where it is going, including:
• The collective efforts on the entire investment industry ecosystem, including asset owners, consultants and asset managers to adopt and implement the standardisation of diversity and inclusion data (D&I).
• The current state of diversity within asset management firms at both the ownership and portfolio management levels.
• How the use of D&I data will impact stakeholder decision making, board member composition and investment policies in the future.
“The ongoing conversations and industry-wide efforts to promote a more diverse, equitable and inclusive investment industry are gaining momentum, and industry participants are making more commitments to advocate for change,” says Erica Jack of Nasdaq/eVestment, the report author. “With this paper we look at quantitative data to provide a benchmark of where we are and highlight industry thought leaders on where the industry could go and how we can get there.”