Women are slowly gaining prominence in the asset management industry. Although the majority of investment funds are still managed by one or more men, the female presence is growing. And in this area, Spain is a world benchmark.
According to the Alpha Female 2020 report, prepared by the British firm Citywire, 22% of investment funds registered in Spain are managed by a woman. This is the highest level of all countries in Europe and America. There is only one country where there is a greater female presence in this field, Hong Kong, with 27%.
The percentage of Spain is double the world average. In large European financial centers, such as the United Kingdom, Ireland or Luxembourg, the proportion of women is 11%. In Germany, 6%, and in the United States, 9%.
Although the presence of women in the fund industry is growing year after year, the speed is very slow. Four years ago, it was 10.3%, up from 11% today.
- Parity. The Citywire report notes that CaixaBank Asset Management is the European fund firm with the largest presence of women in fund management. Specifically, 38% of its funds are managed by a manager. Of the firms with 20 and 50 managers, it is the one with the highest parity in the world. Santander AM appears as the fourth in firms with 50 to 100 managers, with 22% women.
- March bench. The private bank has a woman among the 20 most outstanding managers in the world, with Marta González Labián, an expert in European fixed income.
In addition to funds managed by one or more women, mixed funds are also increasing, where there is a man and a woman (or several) co-managing. Still, the proportion of funds that are managed by one or more men is still overwhelming, exceeding 80% in the vast majority of countries. In Spain it is “only” 65%.
In some European countries, such as Norway, Poland or the Netherlands, the proportion of male-only funds exceeds 95% of the total.
By category of funds, fixed income funds continue to be those with the highest proportion of women. Although there is also an important presence in vehicles that invest in China, or throughout Asia. Not surprisingly, in addition to Hong Kong, Taiwan is another of the countries where fund managers have the greatest strength. On the other hand, the stock market funds are where there is less female presence.
Another of the gender gaps in the investment world is observed when analyzing the average size of funds managed by men and women. In the first case, they supervise portfolios with a volume of assets of 565 million euros, while they manage portfolios with a size of 407 million euros. The difference has been narrowing here too.
The Citywire report tracks management at 25,368 investment funds around the world, managing assets worth € 14 trillion.