Fidelity International and Yarra Capital Management have joined with Mercer-led Future IM/PACT, an employee value proposition and campaign aimed at attracting more diverse talent into investing.
The scheme is placing its initial focus on women, with an aim to create opportunities and demonstrate to new investors how they can solve complex problems and positively impact the world.
Future IM/PACT is also planning to run a national investments competition across Australian universities next year, with winners to be granted an internship with one of its partners.
Anita Costa, portfolio manager at Fidelity International, said Fidelity International joined Future IM/Pact because it wanted to help to increase the number of young women applying for investment roles, which still remains low compared to men.
“We’re determined to inspire the next generation of female investors to seek out these career opportunities by providing visible role models and sharing our career stories,” she said.
“Future IM/Pact allows us to spread this message at scale.”
Katie Hudson, portfolio manager and head of Australian equities research at Yarra Capital Management, said she was excited about the opportunity to mentor young women seeking a career in investment management.
“Investing offers so much to the intellectually curious and professionally ambitious,” Ms Hudson said.
“Every day is different and you are constantly learning. I’m thrilled to be able to share what I’ve learned and look forward to helping mentor young women through the Future IM/Pact program.”
Mercer’s Learning and Inclusion Practice Leader Yolanda Beattie said that in its first few months since launching in August, Future IM/Pact was succeeding in its mission to engage young women.
“We’ve seen strong interest from women, as well as people from diverse backgrounds, in the content and opportunities we’re sharing including for the intern programs run by our partners and advertised on our platforms,” she said.
“The initiative will ramp up next year, with our National Investments Competition to be run in universities across the country in partnership with the University Network of Investing and Trading society.
“We’re looking forward to placing the competition’s winning team in one of our partners’ summer internship programs.”
The competition will see gender-balanced teams of four will complete a range of investment challenges, with teams mentored by an investor during a series of state heats and a national final.
Pendal is the first partner to advertise opportunities on Future IM/Pact with its Women’s Summer Internship Program attracting interest from a broad range of great female talent.
Fidelity International and Yarra Capital Management join AustralianSuper, Cbus Super, HESTA, Magellan, NAB Asset Management, Pendal, QIC, Wavestone and Nikko Asset Management in the initiative.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
Sarah has a dual bachelor's degree in science and journalism from the University of Queensland.
You can contact her on [email protected].
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