Fewer than half of asset managers assess gender diversity as part of their investment analysis, latest research by Redington reveals.
The research - which questioned more than 100 asset managers globally - found just 47% of asset managers assess gender diversity when researching potential investments, despite 77% saying it is something they measure internally.
Despite 58% of those surveyed saying gender diversity was an important contributor to their success, two-thirds of asset managers had less than 25% female representation on their investment teams and 60% did not report their gender pay gap in 2019.
Redington head of manager research Nick Samuels said: "While our research clearly shows that many asset managers understand the importance of better gender diversity and are taking steps to measure and monitor it, we are seeing a very mixed picture of how this translates to team structures and decision-making."
He added: "Our survey uncovered some thoughtful approaches to diversity, but we also have to ask ourselves whether some in the asset management industry are just paying lip service to this important topic.
"We view diversity and inclusion not just as the ‘right thing to do' but something that helps create a highly effective and competitive workplace, making it an important consideration factor when assessing a manager's capabilities.
"While we recognise that each organisation must plot its own path based on its own history, culture and needs, investment managers should recognise that expectations are changing from both staff, future hires and the wider society. Understanding these perspectives is becoming ever more important to be successful from an internal and external point of view."
A positive the survey revealed was that 67% of those questioned said engagement with cognitive diversity was important.
Samuels added: "Cognitive diversity is much more nuanced, and therefore harder to measure than other aspects, often requiring external resources and costly analysis, which many managers may not currently have available.
"Pointing them in the right direction should be a key priority as, in a fast-moving world, having more data that allows management to better understand their greatest asset - their people - has to be a good thing."
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