Inaugural IA EDI report finds smaller firms are setting fewer targets
Karis Stander (pictured), director of the culture, talent and inclusion team at the Investment Association
The IA has unveiled its first Equity, Diversity and Inclusion Data survey, providing an industry-wide data report on EDI statistics in the UK investment management industry.
The study compiled the results from a questionnaire that covered data on characteristics such as age, caring responsibilities, disability, ethnicity, gender, neurodiversity, religion, sexual orientation and socio-economic background, to help firms better understand their workforce.
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In total, 52 UK fund management firms took part, which collectively represents 78% of the approximately 46,200 people directly employed by the investment management industry in the UK, and covered 75% of total UK assets under management.
Karis Stander, director of the organisation's culture, talent and inclusion team, said data are the «backbone» of creating and implementing an effective EDI strategy and noted the study would allow companies to compare its EDI progress more accurately against peers.
One of the findings revealed that only a quarter of smaller firms, those with less than £15bn in AUM, had set diversity targets covering at least one metric, compared to 91% of ‘large firms', with over £50bn AUM, which had set at least one target.
According to the study, one of the main reasons for smaller firms not setting targets were «concerns about the effectiveness of targets and EDI strategies not being mature enough». However, she said this did not mean smaller firms did not want to engage with EDI issues.
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