The Investment Association (IA), the industry group for the UK’s asset management sector, in collaboration with the Thinking Ahead Institute, a non-profit network advancing sustainable investing for global savers, has published its second culture, talent and inclusion report: A Demographic Snapshot of the Industry.
The report, offering a demographic dataset for the UK investment management industry based on data from firms representing 71% of UK assets under management and employing 81% of the sector’s workforce, has provided insights into diversity, equity, and inclusion efforts across the industry.
The report captured data on eight demographic attributes: age, caring responsibilities, disability status, ethnicity, gender, neurodiversity, sexual orientation, and socio-economic background. Over 60% of firms now collect data across at least six of these characteristics, reflecting a notable expansion since 2022. Increases were observed in data collection for disability (71%), sexual orientation (71%), and socio-economic background (55%).
“People are at the heart of our industry’s success, and we benefit from harnessing the collective strength that comes from nurturing talent across all sectors of society,” said Karis Stander, director of culture, talent and inclusion at the Investment Association. “The latest demographic report highlights the benefits of robust data collection, enabling us to pinpoint areas for change and shape more effective equity, diversity and inclusion (EDI) strategies. Year-on-year, we see encouraging progress, with growing employee trust reflected in their increased willingness to share personal information. Achieving meaningful and sustainable change will take time and requires perseverance, commitment, and a unified effort across the industry.”
The findings have also revealed a relatively young workforce, with 34% under the age of 35. Gender representation has seen improvement, according to the findings, with women comprising 41% of employees, a two-percentage-point increase since 2022.
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Ethnicity data showed 62% of employees identifying as white, while Asian, black, and mixed ethnicity groups represented 10%, 3%, and 2%, respectively. Non-disclosure rates for ethnicity decreased to 18%, indicating greater transparency and trust.
Non-disclosure rates across all attributes declined year-on-year, with gender and sexual orientation seeing the largest decreases at 7% and 5%, respectively – indicating growing employee trust in firms’ data collection processes
Leadership accountability for EDI strategies has strengthened, with 66% of firms identifying CEOs and executive leadership as responsible for EDI initiatives. Only 29% of firms leave implementation to dedicated EDI teams, highlighting a collective commitment to fostering inclusivity. However, the study found declining female representation in the 50–64 age group and widening gender gaps beginning from age 35.
Marisa Hall, head of the Thinking Ahead Institute, commented: “Tangible improvements in data collection and response rates reflect continued efforts in this space. EDI is one of those soft factors increasingly influencing organisational success and investment performance. The insights revealed today have the potential to uncover hidden drivers and patterns for tomorrow. This study looks to the future – to the organisations of tomorrow.”
