The gender gap in fund management

By Juliet Schooling Latter on 5 March 2026 in Basics

International Women’s Day is a moment to celebrate progress, but also to take a clear-eyed look at where change remains stubbornly slow.

This year’s theme, “Give to Gain,” reminds us that progress requires intentional action and generosity. When people, organisations, and communities give, whether through mentorship, advocacy, visibility, resources, or time, opportunities for women increase. Giving is not a subtraction, it’s a multiplication: when women thrive, we all rise.

The latest Alpha Female Report from Citywire underlines this tension perfectly. Over the past decade, assets controlled by female fund managers have more than tripled to £4 trillion, yet women still account for just 12.9% of portfolio managers globally*.

Against this backdrop, we wanted to consider how FundCalibre stacks up relative to wider industry standards. Across FundCalibre’s 213 Elite Rated and Radar funds (excluding investment trusts), there are 449 named fund managers. Of these, 48 are female, spread across 41 funds. That equates to roughly 10.7% of managers, slightly below the Citywire global figure and a reminder that every fund universe is susceptible to the industry’s gender imbalance.

Solo managers remain the exception

Only three FundCalibre Rated funds are run by a single female fund manager:

• Abby Glennie, manager of the abrdn UK Mid-Cap Equity fund
• Alexandra Jackson, manager of the Rathbone UK Opportunities fund
• Hilary Blandy, manager of the Jupiter Monthly Income fund

These three stand out precisely because they are rare.

As with Citywire’s findings, the overwhelming majority of female managers within FundCalibre operate as part of a wider team. Mixed-gender teams have been the primary driver behind the growth in assets managed by women: Citywire reports £3.4 trillion of the £4 trillion in female-managed assets sit within mixed teams. FundCalibre’s composition reinforces that trend, the industry is more comfortable expanding responsibility within teams than handing sole control to women.

A missing pipeline

The consistent message from FundCalibre and Citywire is clear: responsibility is being given to women where possible, but the pipeline remains thin. More women must enter portfolio management roles and stay long enough to progress to senior, solo positions.

On International Women’s Day, it is worth celebrating the achievements of managers like Abby Glennie, Alexandra Jackson and Hilary Blandy, not only for their performance, but because they remain exceptions in a system that still defaults to male leadership.

How to move the needle

By sharing knowledge, opening doors, and actively supporting female fund managers, the industry can move beyond slow growth towards meaningful gender equality.

As we mark International Women’s Day 2026, the question is clear: what will you “Give to Gain” gender equality? Whether it’s mentorship, sponsorship, advocating for fairer opportunities, or celebrating female leaders, every action contributes to a more inclusive, thriving industry.

A decade on from Citywire’s first Alpha Female Report, the industry has shown it can change, just not fast enough. FundCalibre’s data simply reinforces that message.

*Source: CityWire, Alpha Female Report 2025