The Shops That Hired the Most (and Fewest) Female PMs in 2018
The Ignites article, “The Shops That Hired the Most (and Fewest) Female PMs in 2018,” quoted Russell Reynolds Associates Consultant Debra Brown on the increase of female portfolio managers despite the industry’s male roots. The article is excerpted below.
Women got control of more industry assets during 2018, but still accounted for just 13% of all PMs added to mutual fund and ETF portfolios last year.
That is up 2 percentage points from 2017, according to data from Flowspring, a Colorado-based firm that tracks filings for mutual funds and ETFs.
But the hiring has been relatively concentrated. Some 62% of the 156 female portfolio managers added to fund prospectuses during the first 11 months of 2018 work at just 11 fund complexes, data shows.
And slowly but surely, the face of the industry appears to be changing, says Deb Brown, a consultant at Russell Reynolds Associates, an executive search firm.
“One of the biggest issues is that the investment management field, along with other fields, has historically been male-dominated,” she says. “I think we, as a society, have tried to be generally more inclusive.”
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