Investment Association reports on diversity

The Investment Association has published a report which sets out steps to improve ethnic diversity and inclusion in investment management. The report found that:

• 75% of firms currently collect, or have begun work towards collecting, data on the protected characteristics of their workforce, including ethnicity. However, legal, data protection and issues of trust currently stand as obstacles to full disclosure, with only a handful of firms currently obtaining sufficient data to draw meaningful conclusions
• 96% of firms are running regular training to educate their employees on D&I related issues including: understanding racial bias, micro-aggressions in the workplace, everyday racism, and privilege and belonging
• 96% of firms are currently engaged and supporting at least one charity or organisation seeking to open industry access to a more diverse cohort of young people
• 42% of firms have signed up to at least one initiative, pledge or charter that suggests or requires action or targets to improve their ethnic diversity
• 87% of firms have dedicated diversity networks, which play a central role in supporting employees and shaping, producing and driving change.