Despite money managers working to address a lack of gender diversity within the industry, women remain underrepresented within institutional portfolio management, according to a report by Investment Metrics.
Of the 224 investment portfolios from roughly 150 asset managers the institutional data and analytics firm surveyed, less than a third of them (29%) have at least one woman on the portfolio management team, according to the report. Meanwhile, only 13% have a woman in a lead or co-lead position, and 7% have a woman as their CEO.
Roughly half (49%) of all asset managers have published diversity and inclusion initiatives vs. 62% of woman-led asset management firms.
And while women are underrepresented in portfolio management, the report showed that female portfolio managers outperformed their benchmarks proportionately to their male counterparts.
Looking at the top-quartile performing funds for three, five and seven years, 25%, 22% and 30%, respectively, were run by asset managers with women on the portfolio management team. During these same periods, 16%, 11% and 19%, respectively, were run by managers with women-led portfolio management teams.
The report said that from 2014 through June 30, 2021, Loomis Sayles & Co., Hardman Johnston Global Advisors and ClearBridge Investments were the firms with women on the portfolio management teams that consistently outperformed their benchmarks.
