White Paper: where are all the women?

A white paper published by female talent incubator Future IM/Pact shows large superannuation funds are leading gender equality progress in the Australian investment sector. In-house asset management teams and profits for members are attracting more women.

Australia’s funds’ management industry is still stuck in the boys’ club when it comes to male-dominated professions, though the dynamics are changing, says the white paper Where are all the Women? How the Australian investment management industry is grappling with its lack of gender diversity and ideas to accelerate progress.

New trends such as consolidation in superannuation funds and funds managing assets internally are supporting more women entering the industry, and importantly, sticking around.

The paper discusses the barriers to women entering into the investment stage in the first place, with major impedances being that women are less likely to know about investment management as a career option, a perceived lack of confidence and passion in competing for jobs, lack of mentors and sponsorship early on, and critical structural barriers like small investment teams with low turnover and junior analysts require 2-3 years of relevant experience.

Larger super funds could offer a larger array of positions, with more junior roles and clearer pathways that can attract developing talents. Additionally, larger super funds support structural change in reducing barriers to entry or re-entry for women who want to work in the industry. Supporting the pipeline of female talent is key to bringing more women into the fold.

Future IM/Pact is an industry initiative designed to attract more diversity in talent into the investment world. Current partners are Australian Ethical, Cbus, Fidelity, Hesta, Jarden, Macquarie, Mercer, MLC, Munro Partners, Perpetual, QIC, Schroders, Sunsuper and Vinva.