Women manage record assets, still underrepresented - Investment Officer

According to a recent Investment Officer article, the latest Citywire Alpha Female report (September 2025) paints a mixed picture of gender progress in asset management. Over the past decade, assets managed by women have nearly tripled, rising from €1.7 trillion in 2016 to €4.7 trillion today. Yet women still represent only 12.9% of fund managers, up marginally from 10.3% ten years ago - a reminder that awareness campaigns and diversity pledges have translated into only limited structural change.

Much of the growth in women-managed assets stems from the rise of mixed-gender portfolio teams, now present in nearly 15% of funds, compared with just 6.7% in 2016. These teams account for almost all the assets managed by women, suggesting that collaborative approaches are reshaping the profession.

However, career turnover remains a key barrier: 44% of female portfolio managers have changed roles or mandates in the past decade, versus 30% of men. This greater volatility limits continuity and hinders access to senior positions.

The report also reveals regional and sectoral disparities. Asia leads the way, with women representing up to 32% of fund managers in Taiwan, while Europe lags behind - Spain reaches 22%, Germany just 7%, and Luxembourg sits near the continental average. Women remain underrepresented in alternatives and commodities, but fare somewhat better in fixed income and equities.

Across the industry, initiatives such as Columbia Threadneedle’s participation in the Women in Finance Charter, Invesco’s Diversity Project Pathway Programme, and Franklin Templeton’s emphasis on workplace flexibility aim to attract and retain female talent. Yet despite this momentum, the overall share of women in portfolio management remains stubbornly low.

As Investment Officer concludes, the next decade will determine whether today’s initiatives finally translate into real progress - turning visibility and flexibility into sustained gender balance across the asset management industry.

The full article can be read here.