IA issues 'red cards' to investment trusts for gender diversity shortfalls

94 non-compliant companies named and shamed

The Investment Association (IA) has handed 'red cards' to a number of FTSE-listed companies, including investment trusts and St. James's Place (SJP), for a "serious breach" of the guidelines around gender diversity on boards.

Naming and shaming 94 companies, the IA has compiled a list of groups receiving 'red' and 'amber' warnings for their lack of gender diversity, including 14 investment trusts.  The IA said it continually engages with companies on the issue of gender diversity, with last year's Stewardship Survey revealing its growing importance, given the advent of gender pay gap reporting. The trade body found 56% of asset managers engaged with UK companies on gender diversity and 42% made a voting decision based on the issue. Andrew Ninian, director of stewardship and corporate governance at the I...