Fund managers launch initiative to tackle 'chronic' black underrepresentation

#100blackinterns

James Baxter-Derrington
clock • 2 min read

Leading fund managers have come together to back a new initiative designed to address the “chronic underrepresentation” of black talent across UK financial institutions.

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 ...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Your profession

TISA welcomes tabled amendment allowing for personalised guidance

TISA welcomes tabled amendment allowing for personalised guidance

‘Crucial that consumers have access to targeted and effective support’

Ayesha Venkataraman
clock 25 November 2022 • 2 min read
7IM said the number of clients who would make different choices suggested that the industry still hadn't got it together to offer robust, yet flexible, solutions that deliver the right outcomes for advisers and their clients

Third of UK retirees need 'more support' before making decisions       

Advisers have the toughest role to play in retirement planning, experts say

Julia Bahr
clock 24 November 2022 • 2 min read
Hybrid advice models to tackle lack of investor confidence

Hybrid advice models to tackle lack of investor confidence

Number of firms in the hybrid space expected to grow near-term

Julia Bahr
clock 24 November 2022 • 4 min read