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Jane Buchan, who has spent nearly 20 years allocating money as CEO of PAAMCO, one of the world's largest investors in hedge funds, said women fund managers needed to redouble efforts to ensure that investors trust them.
"Women need to outperform significantly to have the same badets as underperforming men," said Buchan, who now runs his own fund, Martlet Asset Management. "With this type of outcome, which can be demonstrated in academic studies and what many women perceive from their own interactions with investors, why try?"
Man Group, one of the few publicly traded hedge funds, is the only UK hedge fund firm to subscribe to the UK Government's Women in Finance charter, which aims to increase the representation of women in high-profile markets. the city.
The company, headquartered in London, aims to 25% female representation in senior management positions by the end of 2020 compared to 22% last year. It has put in place a number of measures to improve gender diversity, including a return program for women who have left the sector.
He offers 18 weeks of paid leave worldwide to new parents, men or women. The Man group has registered five women in the CF 30 club last year, but this represented a new categorization to comply with European rules rather than new recruits.
"We have worked hard to ensure that internal employees can reach their potential, we have put in place a lot of mentoring activities, we have always considered female candidates and examined the factors that have slowed down the recruitment of women" said Luke Ellis, CEO of Man.
Women held 13 percent of Man Group's investment management positions worldwide in 2018, up from 11 percent in 2017 and 8 percent in 2013, a source familiar with the issue told Reuters.
The ladle bits
Interviews with nine women who work or have worked as portfolio managers in Britain and the United States have revealed that hedge funds can be a difficult sector for women investment managers. Some of them have heard disparaging comments about their appearance or their investment abilities.
Male colleagues who make unwanted advances to their coworkers during night outings are not unusual, according to seven women who have held various roles for hedge funds, including as traders.
A hedge fund rebadigned the women's room in the trading room to a men's washroom, meaning that the women on the placement team had to walk to another part of the building, two of them said. women. None of the women, who asked anonymity not to harm their careers, worked in the hedge funds named in this story.
Clare Flynn Levy, a former hedge fund portfolio manager who now runs her own behavioral badysis company, said that women could endure a toxic work culture for a while but that they eventually tend to from.
"In retrospect, I think I used a combination of very hard work, laughing sordid ends and sometimes putting my foot in the bottom if I felt that someone was crossing a line," he said. she declared.
Kosenko, a recruitment consultant, said she was struggling to convince women to join the hedge funds, where they could be the first woman on the floor. But with the increasing consideration of diversity by investors to decide where to put their money, some hedge funds seek to rise to the rank.
Last year, Kosenko had five meetings with hedge fund clients on hiring women. During the first months of this year, she had four. "I think that in general, the big trend is to develop talent and get out of what we usually live – the white men of Goldman Sachs."
Reuters
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