'No longer the only woman in the room'

The finance industry historically has had low female participation. When I joined almost 30 years ago, there were few senior women evident in financial services.

Over time, I have valued and benefited from working in firms where leadership includes multiple women - these teams have felt more inclusive and with more potential to progress as an individual.

Both senior women role models, and the impact of better gender diversity on leadership and team dynamics, improve organisational outcomes in my experience.

Investment teams have particularly suffered from low gender diversity.

When I completed the CFA program in 2001, I was told there were only two women in the Melbourne chapter before that year. When I went to my first investment briefing lunch in a fund manager boardroom, I was the only woman of around 30 attendees.

Today, that sort of occurrence is rare and noticed by more than just the sole woman in the room.

There remains a greater proportion of men in most investment teams, but there are more women today at all levels, and strong female participation in finance related degrees. While there is more to be done (example: recent gender pay gap data), this gives me encouragement total and senior female representation will continue to improve over time.

There is meaningful evidence teams with more diverse experiences and approaches, including on this single aspect of gender, have improved outcomes - be it boards, executive or investment teams. Indeed, diversity of thought and perspective is critical in investment decision making.

There is a constant challenge to find new ideas and to consider the potential risks that come with evolving and uncertain markets. This is why gender diversity in investment teams has been an area of specific research at Frontier for many years, and is a key aspect of our fund manager assessments.

International Women's Day is a good time to acknowledge strategies that positively impact advancement on gender diversity and equality. So, what have I seen have an impact when it comes to elevating the roles of women in investment?

Mentors

Mentoring is important, by senior women to other women, but also by and to men. These activities help develop women and widen perspectives beyond what is most familiar to an individual.

Environment

A cohort of senior women in a business means influence and opportunity is often organically more equally apportioned.

A culture and management philosophy that is supportive of women and their careers is highly impactful. Normalising and encouraging men to also take the opportunity to share family priorities is critical.

Momentum

Creating a team and a culture that includes women attracts more women.

This demonstrates an equitable path to the top exists, and more capable people will be drawn to that dynamic, including men. It also helps break cycles of unconscious bias and networks and expands the spheres of connection a business has for attracting new staff.

Grow the pipeline

Boosting the numbers of women in senior and decision-making roles requires growing the numbers of women in the industry.

Scholarship programs and even school leaver engagement can help steer young women into a career in investment.

Measure

Outside of monitoring participation rates, addressing issues such as the gender pay gap, which exists to some degree across virtually all industries and has many factors fuelling it, can only be impacted and understood by measurement and transparent reporting.

Over 30 years, there is much to recognise and celebrate. But there is still much to achieve.

International Women's Day has helped focus effort and bring more people into support, advocacy and action. Like strong long-term investment returns, good results don't happen by accident.

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