IMPACT Newsletter – August 2021

There has been a lot more in the news this month that I thought you would find interesting. The podcast on anxiety in the work place is fascinating and worth a listen. If there is one article to rev up your desire to spread the word on women in investing, it is the pension gap study by L&G. We also loved (with disbelief!) the stats on how many funds are run by men called Dave versus women as a whole.

Investing in Femtech   

Data revealed by Morningstar in March 2021 showed that there are more funds run by men called Dave (68) than there are female managers in total (45). When Fund Managers invest in companies that support women’s health, we as a society all benefit. Men may often be ill-suited to invest in areas like femtech because their unconscious biases can kick in which is why female fund management representation is so important. With these statistics, it is no surprise that there are more funds catering to women’s health.

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The Gender Pension Gap

Following on from the gender pay gap article, this article highlights the lesser broadcasted gender pension gap. The opening line, ‘Pensions for women in Britain held with Legal & General (L&G) are smaller than those of their male counterparts across every age bracket’ is a stark realisation that this is a very real and prominent issue women face.

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Workplace Anxiety

This podcast is fuelled by raw and honest conversations which promote discussions about ‘taboo’ topics. In this episode, they unpack the complex issue of career and workplace anxiety.

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Holding Companies Accountable

Fidelity is among one of the Asset Managers taking a strong stance on important issues such as climate change and boardroom gender diversity. Not only have Fidelity said that they will vote against Directors at companies who do not have a policy on climate change; in developed markets, they will also vote against Directors where boards are not at least 30% female. Fidelity already votes against all male boards.

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The Gender Pay Gap

New reports have shown that the gender pay gap is widest in the upper ranks of large companies, where ‘Female board members are paid about 40 per cent less than their male counterparts’. Within the largest FTSE 100 companies, the average pay for male executive board members was £2.5m, whilst for women it was only £1.5m.

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Diversity Disclosure

A group of Pension Funds have joined together in the hope to get Asset Managers to take diversity seriously. They have invited Asset Managers to sign The Asset Owner Diversity Charter. They draw the conclusion that any Fund Managers not willing to disclose information on how they tackle diversity and inclusion within their workforce should be a serious red flag to investors.

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