Investment management firms are collecting data against a wider set of diversity characteristics compared with previous years.
This is according to a 2025 report from the Investment Association (IA) and PwC.
The 2025 report captured data across eight attributes: age, caring responsibilities, disability status, ethnicity, gender, neurodiversity, sexual orientation and socio-economic background.
Three quarters (75%) of respondents are now collecting data across at least six of the eight characteristics.
Age (94%), gender (92%) and ethnicity (82%) have the highest disclosure rates, with disclosure of socio-economic background data increasing from a rate of 49% to 57%.
Voluntary disclosure rates increased slightly year-on-year for most demographic characteristics, while disclosure rates remain lower for sexual orientation (62%), disability (53%) and neurodiversity (47%). The IA said this “highlighting the need for continued efforts to build confidence.”
The report also found that 33% still do not plan to collect data on neurodiversity.
The gender split of the industry has remained broadly stable year-on-year, as 58% of the workforce is male, while 41% are female.
Still, this does represent a slight increase in women year-on-year and a slight decrease in the representation of men.
The same can be said for ethnicity of the investment management sector with similar levels between 2023 and 2024. Under two-thirds (63%) of employees identify as white, with Asian employees account for 11% and black employees making up 3%.
Disability representation remained relatively stable at 4%, but with a high non-disclosure rate of 47%.
The survey also found that accountability for EDI strategies lies increasingly at the top of firms, with 61% of respondents identifying CEOs and executive leadership as accountable, compared with 59% in 2023.
However, responsibility for implementation is increasingly being held with human resources (HR) functions, increasing from 18% in 2023 to 24% this year.
Almost 90% of asset managers have an EDI strategy in place.
IA director of culture, talent and inclusion Karis Stander said: “Consistent collection of demographic data remains vital for understanding the composition of our industry’s workforce and tracking its evolution over time. This year’s report reveals that firms are expanding both the breadth and depth of data gathered, providing clearer insights into workforce demographics despite the absence of a regulatory requirement to do so. While data collection is on an upwards trajectory, and the demographic make-up remains steadfast year-on-year, we recognise that building trust and encouraging disclosure remains a journey.
“The findings also highlight the industry’s continued alignment with equity, diversity and inclusion values, ensuring that people from different backgrounds can access careers, progress professionally and feel a sense of belonging.”
PwC UK workforce reporting lead Katy Bennett added: “To fully unlock the potential of a workforce through the lens of equity, diversity and inclusion (EDI) starts with understanding where organisations are today, where barriers remain and where opportunities exist. Collecting and analysing workforce data provides the foundation for that understanding.
“It enables firms to identify patterns, measure impact and make informed decisions that lead to meaningful and lasting change. The industry’s ongoing commitment to transparency and accountability is encouraging. However, to shift the dial, the data needs to be used to create evidence-based insights that are used to drive action.”
The report is based on respondents from 45 UK investment management firms, employing around 29,000 people directly.
