Finally, Redington looked at how managers are considering diversity as part of the investment process. Overall, 54% consider diversity as part of the due diligence process, with 80% of those firms looking at gender.
Ethnicity is considered by more than 50% of managers, while 43% look at professionalism, 36% consider age, 33% look at education, 31% consider cognitive diversity, and 19% each consider religion and sexuality.
However, only 8% of strategies that engage on diversity actually integrate and report on related key performance indicators.
Looking ahead, Redington wants to see a closer link between senior leadership remuneration and diversity performance. In this survey, 61% of managers have firmwide diversity targets, but 40% have key performance indicators linked to senior leadership remuneration.
"Managers have signed up to the initiatives and designed the processes, but incentivization is arguably now the quickest win when it comes to driving meaningful change," Ms. Miller added.
Redington also added that there are opportunities for future progress.
"We cannot expect managers to transform their teams and processes overnight, but it is critical that firms step up their game when it comes to diversity," Ms. Miller said. True change will only be achieved by "replacing box-ticking with honest conversations, actionable policies and collaboration," she said.