UK’s biggest pension scheme set to screen investments based on workforce diversity
The UK’s largest workplace pension scheme Nest has joined forces with the Church of England Pension Board to sign up to a new charter committing them to screen their investments taking account of gender and ethnicity diversity.
It marks a significant step towards tackling the asset management industry’s serial image problem, namely, that they’re all male, pale and stale.
A study run by investment data firm reveal more funds in the UK are run by men called Dave than by women.
Now the charter, backed by a number of investment consultants and pension schemes including West Midlands Pension Fund, Lothian Pension Fund and RPMI Railpen, should force asset managers to take a more proactive approach to improving their workforce diversity.
When bidding to manage a scheme’s assets, fund managers will be required to disclose gender and ethnicity information relating to their own teams.
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