ICI Announces Diversity and Inclusion Survey Results

Washington, DC; May 30, 2023—New survey results from the Investment Company Institute (ICI) provide insight into the diversity of the asset management industry.

The 2022 ICI US Asset Management Diversity & Inclusion Survey shows that representation from historically underserved or underrepresented communities in the industry increased from 30.5 percent in 2020 to 34.4 percent in 2022. The percentage of women represented in the industry declined from 41.8 percent in 2020 to 39.7 percent in 2022.

“The survey is an essential tool to measure progress and promote accountability as our industry continues to make efforts to improve diversity and inclusion,” said Yie-Hsin Hung, ICI Chair and President and CEO of State Street Global Advisors.

ICI conducted its inaugural survey in 2020. The 2022 survey collected granular data on workforce demographics, asking ICI members to provide responses using industry-specific job classifications for the first time. Additionally, the survey captured measures available to members in considering workforce diversity and inclusion issues in the industry.

“ICI members have expressed a desire to improve the inclusion of more women and people from underserved and underrepresented communities in their organizations. ICI’s D&I survey allows them to benchmark their progress and evaluate the effectiveness of their efforts,” said Eric Pan, President and CEO of ICI.

To read more from the 2022 survey, click here.

In addition to the biennial ICI D&I survey, the Independent Directors Council (IDC) previously conducted its annual IDC/ICI Directors Practices Study, a proprietary survey that provides information about common fund governance practices and offers data on independent directors, including newer independent directors. The most recent demographic data as of year-end 2021 from that survey is available here.