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Alpha Female 2018: AAA-rated women given less money to run

Women remain under-represented in the industry, with even elite outperformers having limited opportunities.

Alpha Female 2018: AAA-rated women given less money to run

While the headline finding of Alpha Female 2018 revealed the strength of mixed-gender manager teams, the situation for solo female fund managers has shown little improvement year on year.

The headline finding of the Alpha Female 2017 report was that women were woefully under-represented in the fund management industry, both in terms of physical presence and the assets that individual female fund managers are entrusted with. The 2018 report shows little improvement in this regard.

Despite increased awareness and ongoing efforts to address this imbalance, the percentage of women represented has actually dropped from 10.5% to 10.3%.

This is also consistent with the findings of the original Alpha Female report from 2016, which also showed that just one in 10 fund managers in the fund industry was female.

At an asset level, funds run solely by a woman account for 6.2% of the total assets in circulation in 2018, down slightly from 6.4% in 2017.

However, this is in the context of solo male managers also seeing a slight pullback, falling from 53% to 51.6% over this period. Nevertheless, more than half of all assets in the industry are still run by men working on their own.

Elite women v elite men

For the first time, Citywire has also looked at how the top-performing male and female managers are treated in terms of the assets they are entrusted with. This is based only on managers with the maximum risk-adjusted AAA rating from Citywire.

Male managers boasting Citywire AAA ratings for their three-year, risk-adjusted outperformance can expect to run an average of £1.56 billion of client money.

However, a female fund manager boasting the exact same Citywire AAA rating will only be given an average of £920 million to invest.

To read the Alpha Female 2018 report in full please click here.

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