Fund managers launch initiative to tackle 'chronic' black underrepresentation

The scheme, #100blackinterns, seeks to give "meaningful opportunities" to young, university-educated black people who are trying to break into the City, with roles in "critically important" teams that make decisions "worth billions of pounds". According to a 2018 study by New Financial, there are only 12 black portfolio managers in the entire UK investment management industry, and #100blackinterns is premised on the idea that providing 100 paid internships to young black candidates "ought to lead to a measurable increase" in the number of black portfolio managers in the long term. To ...