Leading the charge towards gender balance in funds management

Future IM/Pact programs used:

The Victorian Funds Management Corporation (VFMC) aspires to become one of the first gender-balanced investment managers in the world, and are well on their way with 40% women across their investment team.

In 2022, VFMC joined Future IM/Pact as a partner to not only strengthen their own gender diversity position but also raise the bar across the board with their support of industry-wide initiatives. Through their participation in the LIFT Sponsorship and Advocacy Program, VFMC has uplifted existing and aspiring leaders within their teams and also made a meaningful contribution to improving gender balance and diversity across the industry.

We are bold in our optimism that through our continued leadership, work and focus we can become one of the world’s first gender balanced investment managers. That makes us a place for everyone to work in a different way, with the support to grow careers. It is only through our bold aspiration that this will come true
Kate Galvin, CEO, VFMC

A strong commitment to gender equality and action

VFMC has a strong, ongoing commitment to gender equality. In March 2022, they partnered with Future IM/Pact as it aligned strongly with VFMC’s Gender Equality Action Plan (GEAP) and this partnership further supports VFMC in delivering on their GEAP actions, while adding their voice and support to industry wide interventions, initiatives and actions.

Elevating individual and collective impact with LIFT

One of the key benefits VFMC has found partnering with Future IM/Pact is the opportunity to participate in events they could not organise or facilitate on their own. Having access to a knowledgeable network of like-minded organisations who have similar agendas and can learn from each other has also been highly valuable.

In 2022/23, VFMC participated in the LIFT Sponsorship and Advocacy Program, a nine-month supported journey for aspiring leaders. In considering the LIFT Program, VFMC wanted a program that engaged sponsors and sponsees from across their business, involving a broad range of people at different points in their career. LIFT allowed every participant to reflect on their own impact and be supported with a range of tools that allowed them to be better contributors, leaders and drivers of their own impact. In doing so, it had a positive cascading effect and enabled others in the business to be more impactful.

Supported deliverables and ongoing success of VFMC’s Gender Equality Action Plan (GEAP).
Access to a pipeline of female and diverse talent, and opportunities to meet and build relationships with future investors.
Enabled VFMC existing and aspiring leaders to have a more impactful contribution to the business and their personal career journey.
The ability to connect, learn from and work with like-minded organisations for the benefit of the industry as a whole.
Moved VFMC closer to their bold and inspiring ambition to become one of the world’s first gender balanced investment managers.

Strengthening diversity within VFMC and industry-wide

VFMC’s commitment to diversity has seen its investment team attract and retain over 40% women, and they are proud that so many female investors chose to grow their careers with them. In recognition of ongoing internal programs of work, VFMC was ranked No 1 for global sovereign funds for gender balance for the second year in a row by the Official Monetary and Financial Institutions Forum (OMFIF) in their OMFIF Gender Balance Index 2023.

To support and retain diverse and valued talent in their organisation, VFMC has reviewed and amended policies to ensure flexibility for both men and women to do their best work. Joining other organisations on the LIFT program who are equally as committed to improving diversity across the funds management industry has been a very positive experience for VFMC.

VFMC credits their partnership with Future IM/Pact for providing a pipeline of talent needed to build strong and sustainable career paths for all genders. Further, Yolanda’s deep insights, energy and enthusiasm have been impactful on their LIFT participants as they have been able to genuinely reflect on their approach and impact.

“Yolanda has an expansive understanding of the human condition and what limits people as well as the mechanisms and interventions that individuals can use to grow and develop. Yolanda also has an excellent coaching style and encourages people to be bold.”

VFMC is committed to being part of the solution and encourages all players in the funds management space to get on board with Future IM/Pact to effect industry-wide systemic change. No one person or organisation can deliver this in isolation. Driving change across the board means everyone in the sector benefits from uplifted policies and workplace practices and we all thrive as a result.

I think of the LIFT program as investing in my own potential. Possibly what might take many years (if ever) to learn about yourself and gather tools to help you thrive and progress your career, is basically accelerated in months. Yolanda’s advice, especially in one-on-one sessions, is always on point and insightful. If you have the opportunity to participate in the program and want to invest in your future self, I would highly recommend it
Jesse Oliver, Assistant Portfolio Manager, Active Beta

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