The UK and US may boast two of the most sophisticated asset management industries in the world, but they lag other countries on one key metric: the proportion of female fund managers they employ.
This finding comes from a new report based on analysis of Citywire’s global fund manager database at the end of March.
This showed that of 15,229 fund managers around the world, 13,488 – nearly 90% – were men, vastly outnumbering the 1,562 women with responsibility for funds sold to the public worldwide.
Of the 23,810 funds we track, nearly 14% were managed by teams that included a woman.
However, only 7% of funds were run by a female manager on her own. On average women run smaller funds than men, so these ‘women-only’ funds accounted for just 4% of the worldwide assets in our survey.
The figures underline the lack of progress women have made in asset management compared to other professions.
Previous surveys have shown that in the UK women represent 48% of GPs, 44% of accountants and 24% of solicitors at partner level.
In the US nearly two thirds (63%) of auditors and accountants are women, while the female share of lawyers and doctors stands at 33% and 37% respectively.
The report, entitled Alpha Female, reveals wide geographical variation with the first ever country-by-country analysis of fund management.
Both the US and the UK lag below the global average, with 7% and 9% female shares respectively, according to our figures. Germany does worse with just 6%.
Among big nations, Spain leads the way with 27% women fund managers, followed by France on 18% and Italy with 15%.
The report is free to access but only to readers registered with Citywire.
In this exclusive report you will discover:
- Which fund groups are the most female friendly
- The women who have shattered the glass ceiling to run huge funds
- The vital fund sector where women completely outstrip their male counterparts
Click here to read it.