DAccording to the latest Alpha Female Report by international financial information provider Citywire, the percentage of female fund managers in asset management worldwide increased to 12.1% in 2023, which is 0.1 percentage points higher than the previous year.
Of the more than 18,000 fund managers listed in the database, only 2,179 are women. „The number of female portfolio managers is growing even slower than before, as a challenging year for the asset management industry turns into an even worse one for diversity initiatives,“ says the author of the report, Margaryta Kirakosian.
In the past twelve months, the number of newly launched funds has decreased by half. Consequently, according to the author, the opportunity for women to manage these funds also decreases. Currently, only 6.2 percent of the newly launched funds are assigned to female fund managers or all-female teams, while 15.7 percent are managed by mixed-gender teams. Taiwan has the highest percentage of funds managed by women, with a share of 29 percent.
Additionally, it is worth noting that women often receive smaller and more specialized funds compared to men. The average fund volume managed by women is 371 million euros, whereas for men it is 558 million euros. These smaller funds are more likely to be reduced or dissolved during economically challenging times, unlike larger funds.
According to Kirakosian, asset managers often argue that they cannot promote women without sufficient experience. However, in reality, companies usually do not even provide women with the opportunity to qualify for a promotion.