Investment Association and Thinking Ahead Institute launch investment industry drive to gather richer diversity data
The Investment Association (IA) and Thinking Ahead Institute have today launched a campaign to gather richer data on equity, diversity, and inclusion (EDI) across the investment management industry. As investment managers increase efforts to promote inclusive workplaces and attract and retain a diverse workforce, this data will help provide an evidence-based understanding of the progress being made and the areas requiring improvement.
In a survey sent to the IA’s 250 members, firms are being asked to provide data on a range of employee attributes, including: gender, ethnicity, sexual orientation, as well as socio-economic background and neurodiversity. This will, for the first time, provide a more detailed overview of the demographic makeup of the UK investment management industry and allow firms to benchmark their progress. With the FCA calling on firms to gather richer EDI data, this initiative will also support firms on this journey.
To understand what firms are doing to boost EDI within their workforces, the survey will ask about the type of diversity data currently being gathered by the industry and how often they’re collecting this information. It also aims to establish how firms are advancing EDI within their organisation and the wider industry through different initiatives and charters. With the results to be published later this year, this study will help create a central resource of best practice, so that firms can understand how to recruit and support a more diverse pool of talent.
Karis Stander, Director of Culture, Talent and Inclusion at the Investment Association, said: “Creating inclusive workplaces and diverse workforces is crucial to the success of the investment management industry and to ensure that we truly represent the customers we serve. Data lies at the cornerstone of this - only by gathering richer data and gaining a deeper understanding of the backgrounds of those working within our industry can we drive forward meaningful change.”
Marisa Hall, Head of the Thinking Ahead Institute, said: “We are delighted to be working with the IA on this initiative to provide an evidence-based understanding of the EDI landscape in the UK investment management industry. In doing so, we’ll be allowing asset managers to benchmark their progress and to better focus resources on improving EDI. In time, this should result in a more diverse pool of talent in the UK industry, and beyond, with the corresponding improvement in investment outcomes.”
For further information, please contact:
Helen Ayres, Head of Communications: [email protected]
T: +44 (0)20 7269 4620
Arianna Schardt, Communications Executive: [email protected]
T: +44 (0)20 7269 4625
IA press office: [email protected]
About the Investment Association (IA):
- The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £10 trillion of assets and the investment management industry supports 114,000 jobs across the UK.
- Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
- Our purpose is to ensure investment managers are in the best possible position to:
- Build people’s resilience to financial adversity
- Help people achieve their financial aspirations
- Enable people to maintain a decent standard of living as they grow older
- Contribute to economic growth through the efficient allocation of capital.
- The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
- The UK is the second largest investment management centre in the world, after the US and manages 37% of all assets managed in Europe.