What's in a name? Lack of industry diversity is still an issue

More Davids than women managing funds

Earlier this year, Morningstar ran a piece about the lack of female fund managers in the UK with a headline that has stuck with me: “(Still) more funds run by ‘Daves’ than women.”

The article told us two things: that David was clearly a popular name in the 1970s and that lack of diversity across the industry remains an issue. On a global scale, the numbers are just as startling, and they get even worse when we look at private equity or venture capital. The problem is further amplified when we consider the lack of ethnic diversity in the industry. These depressing statistics persist despite the numerous campaigns and initiatives dedicated to attaining a more diverse investment industry. Even when compared with other professions such as accounting or law, the number of...