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Centennial Speaker Series: Hidden in Plain Sight: How to Save Active Investment Management, Part I: The Situation

April 8, 2021 | 5:30 PM - 6:30 PM

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A co-sponsored event, presented by CFA Society New York, the Gabelli Center for Global Security Analysis, and the Museum of American Finance.

Diversification is a core principle of investing. Yet money managers have not applied it to their own ranks. Only around 10 percent of portfolio managers—the people most directly responsible for investing your money—are female, and the numbers are even worse at the ownership level. What are the causes of this underrepresentation, and what are its consequences—including for firms’ and clients’ bottom lines?

In Undiversified: The Big Gender Short in Investment Management, experienced practitioners Ellen Carr and Katrina Dudley examine the lack of women in investment management and propose solutions to improve the imbalance. They explore the barriers that subtly but effectively discourage women from entering and staying in the industry at each point in the pipeline. At the entry-level, the lack of visible role models discourages students from considering the field, and those who do embark on an investment management career face many obstacles to retention and promotion. Carr and Dudley highlight the importance of informal knowledge about how to navigate career tracks, without which women are left at a disadvantage in an industry that lionizes confidence. They showcase a diverse constellation of successful female portfolio managers to demystify the profession.

Drawing on wide-ranging research; interviews with prospective, current, and former industry practitioners; and the authors’ own experiences, Undiversified makes a compelling case that increasing the number of women could help transform active investment management at a time when it is under threat from passive strategies and technological innovation.



Donna Rapaccioli, Dean, Gabelli School of Business, Fordham University



Laura Rittenhouse, Author, Investing Between the Line


Ellen Carr, Author, Undiversified: The Big Gender Short in Investment Managemen

Katrina Dudley, Author, Undiversified: The Big Gender Short in Investment Managemen

Dan Hanson, Chief Investment Officer, Waddell & Reed Financial Inc., Ivy Investment Management Company



Donna Rapaccioli, Dean, Gabelli School of Business, Fordham University

Co- Sponsored By

Museum of American Finance