More fund managers named Dave than women, says report

Gender inequality remains rife in the UK funds industry, according to a report which found that there are more fund managers named Dave or David than there are women at the helm.

Out of 1,496 UK-listed open-ended funds, around 108 are run by managers named David or Dave, the equivalent to 7.2% of funds, the study by Morningstar found. There were only 105 women overall managing funds.

The most common women’s names in the study were Kate and Johanna – but they accounted for just eleven of all fund managers in total and managed 22 funds between them.

Emma Morgan, portfolio manager at Morningstar, said: “It’s a great shame that the industry is missing out on a whole swathe of talented individuals. The more the industry can do to attract and promote women in fund management, the better outcomes we can achieve for everyone.”

According to a separate study by campaign group the Diversity Project, under 10% of senior managers in the asset management industry are female.

Another recent report by the Diversity Project claimed that the gender pay gap had worsened between men and women.

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©2019 funds europe

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