Investment management industry remains committed to core principles of EDI

The Investment Association (IA), alongside PwC, has today published its third annual Talent Report: A Demographic Snapshot of the Industry – the most comprehensive demographic dataset for the investment management industry in the UK.  

The 2025 report captured data across eight attributes: age, caring responsibilities, disability status, ethnicity, gender, neurodiversity, sexual orientation and socio-economic background. Respondents come from 45 UK investment management firms, employing around 29,000 people directly. 

The survey is designed to help build a more robust picture of the investment management workforce and serves as a vital tool for gaining insights into the dynamics that shape the recruitment, advancement and retention of the people who work in our industry.  

Other key findings on firms’ data collection include: 

• Firms are collecting data against a wider set of characteristics compared with previous years, with 75% of respondents collecting data across at least six of the eight characteristics listed above. 

• Age (94%), gender (92%) and ethnicity (82%) have the highest disclosure rates, with disclosure of socio-economic background data increasing from a rate of 49% to 57%.  

• While these voluntary disclosure rates increased slightly year-on-year for most demographic characteristics, disclosure rates remain lower for sexual orientation (62%), disability (53%) and neurodiversity (47%), highlighting the need for continued efforts to build confidence. 

On the demographic make-up of the industry, this year’s figures remain broadly stable year-on-year: 

• About three-fifths (58%) of the workforce is male, while 41% are female. This represents a slight increase in women year-on-year and a slight decrease in the representation of men. 

• Overall representation by ethnicity remained the same between 2023 and 2024. Under two-thirds (63%) of employees identify as white. Asian employees account for 11% of the workforce, while black employee make of 3% of the population. 

• Disability representation remained relatively stable at 4%, with a high non-disclosure rate of 47%. 

The survey also found that accountability for EDI strategies lies increasingly at the top of firms, with 61% of respondents identifying CEOs and executive leadership as accountable, compared with 59% in 2023. Responsibility for implementation is increasingly being held with human resources (HR) functions, increasing by six percentage points from 18% in 2023 to 24% this year.  

Karis Stander, Director of Culture, Talent and Inclusion at the Investment Association, said:  

“Consistent collection of demographic data remains vital for understanding the composition of our industry's workforce and tracking its evolution over time. This year’s report reveals that firms are expanding both the breadth and depth of data gathered, providing clearer insights into workforce demographics despite the absence of a regulatory requirement to do so. While data collection is on an upwards trajectory, and the demographic make-up remains steadfast year-on-year, we recognise that building trust and encouraging disclosure remains a journey.  

“The findings also highlight the industry’s continued alignment with equity, diversity and inclusion values, ensuring that people from different backgrounds can access careers, progress professionally and feel a sense of belonging.” 

Katy Bennett, Workforce Reporting Lead at PwC UK, said: 

“To fully unlock the potential of a workforce through the lens of equity, diversity and inclusion (EDI) starts with understanding where organisations are today, where barriers remain and where opportunities exist. Collecting and analysing workforce data provides the foundation for that understanding. It enables firms to identify patterns, measure impact and make informed decisions that lead to meaningful and lasting change. The industry’s ongoing commitment to transparency and accountability is encouraging. However, to shift the dial, the data needs to be used to create evidence-based insights that are used to drive action.”