The latest Diversity Project Pathway Programme Impact Report has revealed both strides and setbacks in the push for gender equality within the world of fund management. Despite years of initiatives and conversations about diversity, the number of women in portfolio management remains shockingly low, with just 12.5% of global portfolio managers being female—a figure that has, worryingly, declined over the past decade.
The Diversity Project Pathway Programme, a globally recognised and award-winning initiative developed by industry leaders, is taking bold steps to address this issue head-on. By equipping talented women with the necessary skills and opportunities, the programme aims to unlock the potential of the next generation of female leaders in investment management.
The programme’s impact to date demonstrates promise. In its first cohort, 60 participants have already achieved 27 promotions, including 13 to portfolio management roles or similar. The second year of the programme has seen a growing number of participants—currently 80 women—each receiving tailored support to progress in their careers. This is a significant achievement in an industry where fewer than 200 women are named as portfolio managers in the UK today.
Baroness Helena Morrissey, a key figure in the programme, expressed cautious optimism. “The Diversity Project Pathway Programme is making a difference, but there is still much to be done,” she said. “While the percentage of female portfolio managers has slightly increased from 12.1% in 2023 to 12.5% in 2024, this figure still represents a concerning gender imbalance in a sector that thrives on diversity of thought and experience.”
The report underscores the need for continued commitment from all corners of the investment industry. While progress is being made, the wider picture reveals an industry that has yet to fully embrace diversity, despite growing recognition of its benefits. Cognitive diversity—incorporating varied perspectives and backgrounds—has long been shown to enhance decision-making and performance, yet women continue to face barriers to leadership roles in fund management.
The Diversity Project Pathway Programme is designed to break down these barriers by offering a bespoke pathway for women at different stages of their careers. Through mentorship, professional development, and strategic networking, the programme aims to accelerate the representation of women in key decision-making roles.
As the industry grapples with these challenges, Baroness Morrissey remains committed to pushing for progress, though she stresses that the journey towards gender parity in investment management will be long and requires sustained effort. The Diversity Project Pathway Programme is one part of that solution, but the path forward remains complex.
With both progress and persistent challenges highlighted in the report, the Diversity Project Pathway Programme is calling on industry leaders and policymakers to step up their efforts to create a truly inclusive environment for women in fund management.
