Victorian Funds Management Corporation (VFMC) and CFA Societies Australia have become the latest firms to join the Future IM/Pact initiative aimed at increasing the diversity of talent entering the investment management industry.
The initiative was originally launched in 2018 and has provided more than 370 women with experience through its virtual intern program, mentoring circles, investment competition and intern and graduate placements.
Future IM/Pact founder Yolanda Beattie said that the two firms would provide critical support to the initiative’s ambition of increasing the depth of the female investment talent pool.
“The women we engage are motivated to build a career where they can impact big issues and apply their smarts towards purposeful outcomes. Investing for the benefit of people in their state is an appealing career proposition and we’re excited to be profiling incredible VFMC talent to showcase this opportunity,” she said.
“We’re excited to be working with CFA Societies Australia to take this message to their candidates and then advocate for their potential with our partners. I’m confident this collaboration will bolster both of our efforts to make a difference on this issue.”
Future IM/Pact has also recently expanded its focus into the early career segment by nurturing a talent pool of women with experience in key feeder roles such as investment banking, management consulting and corporate finance.
Commenting on the new partnership, VFMC CEO Kate Galvin said that it provided a valuable opportunity for her team to be able to mentor the next generation.
“After years of targeted recruitment, we now have a breadth of great female talent not only in our investment and executive teams, but across our whole organisation,” she said.
“Partnering with Future IM/Pact will help VFMC continue to grow our female talent pipeline and move even closer to our goal of being one of the first Australian fund managers to achieve gender balance.”
CFA Societies Australia CEO Lisa Carroll said that the partnership would support the organisation’s efforts to see more women undertake Chartered Financial Analyst qualifications and thrive in finance roles.
“Supporting more women to launch their investing career is one way we can inspire more women to complete the sought after CFA designation and address the longstanding gender imbalance across the industry,” she said.
“Partnering with Future IM/Pact gives us a channel to both women at university and women in their early career who may not have considered this career path otherwise.”
Other Future IM/Pact partners include Australian Retirement Trust, Cbus, Fidelity, HESTA, Jarden, Macquarie, Mercer, MLC, Munro Partners, Perpetual, QIC, Schroders, TCorp and Vinva.
