Invest
Importance of female investment managers under spotlight
Is your workplace diverse enough? That’s the question an industry fund is asking in a bid to improve gender diversity within its investment process.

Importance of female investment managers under spotlight
Is your workplace diverse enough? That’s the question an industry fund is asking in a bid to improve gender diversity within its investment process.

By surveying 70 of its Australian and international investment managers about their workplace gender diversity, HESTA is hoping to encourage more diversity in its investment process.
The fund, which is dedicated to health and community services workers, the majority of whom are women, said it wants to expand its focus on gender diversity across its “investment value chain”.
This means internal investment processes, external partnerships and the companies in which it invests are all under the microscope.
HESTA chief executive Debby Blakey explained, “At HESTA we’re committed to gender equality and that commitment goes much further than just talking about it. We want our actions to help drive long-term, meaningful change. It’s what we call the HESTA impact.
“This is a great opportunity to extend the dialogue we’re having about gender diversity to our investment partners as we explore ways of increasing diversity across the entire investment process.”
The survey will measure rates of gender diversity across decision-making roles. The fund hopes that by examining this area of investing, more opportunities for women in the management industry will be created.
Covering both listed and unlisted investment managers, roles examined include investment analysis through to the gender make-up of investment committees.
Continuing, Ms Blakey noted that HESTA considers gender diversity as an “accurate indicator” of companies that are more likely to deliver strong results.
She said, “There is considerable evidence showing greater diversity increases the quality of decision making.
“We want to ensure our investment managers, and by extension our members, are benefiting from this diversity.”
Further, Ms Blakey said the investment management sphere historically has an under-representation of women.
“Given the number of women in our society, it’s crucial organisations have in place processes to ensure they’re identifying the best talent and building strong, inclusive teams with a broad range of perspectives,” she said.
Eighty per cent of HESTA’s members are women, Ms Blakey noted, arguing that gender equality has a direct impact on HESTA members’ financial interests.
“Encouraging more inclusive work cultures that celebrate diversity creates greater career opportunities for women, which, over the long-term, can also increase their retirement savings,” Ms Blakey said.
According to HESTA chief investment officer Sonya Sawtell-Rickson, the survey is also an opportunity for HESTA to share its approach to gender diversity with others.
The CIO, who wrote to HESTA’s investment management partners this week to encourage them to complete the survey, said collaboration is the key aim.
She said, “We’re seeking to engage with our investment managers on initiatives they’re championing to improve diversity and equal opportunity in their teams. Equally, we want to share our approach with them.
“The aim is to collaborate with managers to develop case studies which demonstrate industry-leading practices that can be shared more broadly.”
The results will be reported to HESTA’s investment committee and board, and the aggregate results will be shared with HESTA’s investment managers. HESTA also plans on tracking progress on an annual basis.

Property
Australia's housing market is entering a ‘broad-based correction phase’
Westpac believes the housing market downturn is now underway. ...Read more

Property
ANZ now expects house prices will end the year lower
With higher interest rates on the horizon, the bank is forecasting larger house price declines than previously expected. ...Read more

Property
Which capital cities are most attractive to property investors?
A new survey has suggested that investor attention is shifting away from Australia’s two largest capital cities. ...Read more

Property
Market uncertainty fails to discourage foreign property investors
While interest from foreign investors in Australian property has remained strong, HLB Mann Judd warned that tax increases could see demand shift to other markets. ...Read more

Property
Regional renters forced to spend more of their income than ever before
Renters in regional areas are spending nearly as much on rent as home owners are spending on mortgage repayments. ...Read more

Property
Aussie home buyers now need to save for over 11 years for a deposit
Since early 2020, the time needed to save for a deposit has increased by more than two years. ...Read more

Property
HSBC forecasts 2023 house price decline of up to 10%
The firm had previously predicted a modest rise for house prices next year. ...Read more

Property
Perth house prices continue climbing to a record high
While growth may have come to an end in Sydney and Melbourne, Perth house prices are still on the rise. ...Read more

Wrapping up an eventful 2021
Listen now

What Omicron means for property, and are units right for first-time buyers? What is equity crowdfunding? Are industry super funds tapping into member funds to save their skins?
Listen now

Will housing affordability improve in 2022? Will buy now, pay later become the norm? Why are Aussies staying in failing super products?
Listen now

Who really benefits from crypto ETFs? How will the RBA respond to rising inflation? Could a mandate help address unpaid super?
Listen now

Property
Australia's housing market is entering a ‘broad-based correction phase’
Westpac believes the housing market downturn is now underway. ...Read more

Property
ANZ now expects house prices will end the year lower
With higher interest rates on the horizon, the bank is forecasting larger house price declines than previously expected. ...Read more

Property
Which capital cities are most attractive to property investors?
A new survey has suggested that investor attention is shifting away from Australia’s two largest capital cities. ...Read more

Property
Market uncertainty fails to discourage foreign property investors
While interest from foreign investors in Australian property has remained strong, HLB Mann Judd warned that tax increases could see demand shift to other markets. ...Read more

Property
Regional renters forced to spend more of their income than ever before
Renters in regional areas are spending nearly as much on rent as home owners are spending on mortgage repayments. ...Read more

Property
Aussie home buyers now need to save for over 11 years for a deposit
Since early 2020, the time needed to save for a deposit has increased by more than two years. ...Read more

Property
HSBC forecasts 2023 house price decline of up to 10%
The firm had previously predicted a modest rise for house prices next year. ...Read more

Property
Perth house prices continue climbing to a record high
While growth may have come to an end in Sydney and Melbourne, Perth house prices are still on the rise. ...Read more