POWERED BY MOMENTUM MEDIA
Women missing in funds management
Women were grossly underrepresented in the US fund manager sector compared to other professions, making up only 9.4 per cent, a study showed.
The ‘Morningstar Research Report — Fund Managers by Gender' showed there were far fewer women in US funds management compared to female doctors (37 per cent), lawyers (33 per cent), or accountants and auditors (63 per cent).
The report also said women exclusively managed 184 funds, or two per cent of the industry's funds and assets.
"Why are there so few women fund managers?" the report asked.
"A leaky career pipeline is one reason. The early-stage pipeline certainly has grown more robust."
Women made up 60 per cent of all Bachelor's and Master's degree recipients but this number dropped significantly when it came to women attending business schools. Only 37 per cent of MBAs went to women in 2013.
Less than 17 per cent of US' 50,898 chartered financial analyst charter-holders were women, lower than Australia's rate of 18 per cent.
"With fewer women available, based on education and credentials, the talent pool is dominated by men."
In terms of companies, Dodge and Cox stood first, with 25 per cent female managers, while Franklin Templeton Investments had 14.7 per cent, and JPMorgan had 13.6 per cent.
Only 9.9 per cent of Vanguard's managers were female (13 out of 132 managers), 8.3 per cent of Fidelity Investments' managers were female, and 6.8 per cent of T.Rowe Price's managers were female (five out of 74).
With women set to control half of US' private wealth by 2020 ($22 trillion of assets), it would be natural to see more female fund managers investing that wealth, the report concluded.
These and other issues will be discussed at sister publication, Money Management's Women's Wealth Breakfast on Thursday, 10 September.
Recommended for you
New research has shown that investing in alternative assets and using active management has, to this point, delivered strong results for Australian super funds.
Australia’s $4 trillion superannuation industry is fundamentally reshaping the nation’s external accounts, setting the stage for a more sustainable current account surplus despite weaker commodity markets.
Rest has expanded its portfolio of renewable energy infrastructure by supporting a Victorian solar farm and battery project.
Economic growth was weaker than expected, once again highlighting an economy largely sustained by population growth and government spending.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
37.15 3 y p.a(%)
3
GAM LSA Private Shares AU I
33.96 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
Plato Global Alpha A
28.73 3 y p.a(%)
