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#talkaboutblack Overview

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#talkaboutblack Overview

The UK is the world’s second largest savings market after the United States totalling £7.7trn. The industry employs 100,000 individuals with 75% of UK household utilising the services of an asset manager in one form or another. There has been a drive to increase diversity and inclusion in the asset management sector with four major reasons cited:

  1. Greater diversity of thought leads to better decision making and better performance
  2. Institutions should be representative of the customers and communities they serve
  3. The changing economic, geopolitical and demographic landscape requires new perspectives to successfully navigate
  4. Asset managers should contribute to society and reduce inequalities

Yet the industry remains unrepresentative of the UK population and workforce. Ethnic minorities comprise 14% of the UK the population. Of this 7.5% identify as Asian and 3.3% as Black. In London where the majority of fund managers are based, 18.5% of the population is Asian and 13.3% is black. In the fund management industry 10% of individuals identify as Asian and only 1% identify as black.

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