Kate Galvin
State-owned asset manager Victorian Funds Management Corporation (VFMC) and CFA Societies Australia are the latest organisations to join Future IM/Pact – an industry campaign building a pipeline of future female investors.
The new partners join as Future IM/Pact expands into the early career segment by nurturing a talent pool of women with two to five years’ experience in key feeder roles such as investment banking, management consulting and corporate finance. Called Accelerate, the new early career push follows four years of Future IM/Pact work focused on engaging women at university.
VFMC Chief Executive Officer Kate Galvin explained the partnership offered a valuable opportunity for her team 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. Our high- performing team is committed to supporting the next generation of diverse talent.
“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,” she said.
CFA Societies Australia chief executive Lisa Carroll said partnering with Future IM/Pact would support their efforts to increase the number of women who undertake their 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.
“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,” she said.
Program gathers momentum
Future IM/Pact founder, Yolanda Beattie, said the new partners bring critical support as the project expands its ambition to increase 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.
“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,” she said.
Since launching in 2018, Future IM/Pact has provided over 370 women with experience working in investments through its virtual intern program, mentoring circles, investment competition and intern and grad placements with partners.
In November 2021 Future IM/Pact released a White Paper Where are all the Women? How the Australian investment management industry is grappling with its lack of gender diversity and ideas to accelerate progress that outlined a range of structural barriers, as well as breakthrough opportunities, for women in one of Australia’s largest and fastest growing sectors.