GAIN UK to launch in Sweden

London, United Kingdom (UK) – 7th May 2024 – GAIN (Girls are INvestors), the largest charity in the United Kingdom dedicated to improving gender balance within the investment management industry, announced today their expansion to Sweden. Founded in 2019, GAIN has developed an accessible platform with a range of initiatives including online resources, events and programmes for aspiring young women & non-binary students to learn, develop and network. By doing so, the charity is expanding the entry-level pipeline of female & non-binary candidates into the investment sector, paving the way for a more diverse industry. To date, GAIN has reached over 50,000 students across the UK through its initiatives and is supported by a network of over 1800+ registered industry volunteers, as well as 50+ sponsoring firms.

Despite the past decade of significant improvements and efforts in elevating gender diversity in the investment sector in the UK, female fund managers still only hold 12% of decision-making roles within the investment management sector and the progress towards gender parity in management has significantly stalled since 2021, according to the Citywire Alpha Female Report. At entry level, it’s not much better - only c.20% of applicants to the industry are women, indicating the need to focus equality efforts in the investment industry on strengthening the entry-level pipeline of female & non-binary students for progress that lasts.

In Sweden, despite benefitting from a highly educated student population and a well-established investment ecosystem, a 2023 report found that 17% of funds in Sweden are run by female portfolio managers[1] - which although higher than the UK’s 12%, is still far from representative of gender equality in the industry. To address this, GAIN Sweden aims to educate and inspire the next generation of Swedish female & non-binary investment professionals through the launch of the same initiatives that have generated significant impact in the UK.

GAIN has emerged as the largest initiative in the UK dedicated to strengthening the pipeline of female entry-level candidates into the investment sector. In less than 5 years, the organisation has reached over 50.000 students through its wide range of initiatives including the Investment Challenge, the GAIN Investment Insight Programme, and the flagship GAIN Empower Investment Internship Programme which by the end of 2024 will have placed 384 students in investment management internships (in 2023 GAIN reported a 63% intern conversion rate[2]). Beyond these programmes, GAIN offers free panel events, school talks, workshops, a podcast, job board and a bursary scheme, all of which aim to educate, develop and inspire the next generation of female and non-binary investment professionals. 

"Stepping into Sweden marks a significant milestone for GAIN, reflecting on the remarkable impact we have had in the UK. With the invaluable support of our corporate supporters and industry volunteers, we've directly enriched the careers of more than 50,000 students in the UK through our programs and events. As GAIN grows internationally, we're inspired by our achievements in the UK and optimistic about replicating this success in Sweden - ensuring that our initiatives continue to improve gender diversity in investment management and empower female and non-binary students to join this exciting industry worldwide. GAIN is open to opportunities for expansion in markets where our programs and network can be impactful. We are grateful to our sponsoring firms in the UK, to our new backers in Sweden, and would welcome opportunities to partner with more firms.” said Tanya Tracey, GAIN UK CEO

“The low female representation among decision makers in the investment industry has a significant and long-lasting effect on society. GAIN’s programmes in the UK aimed at making female investor role models more accessible and providing educational content and real-life work opportunities have shown significant impact already; a staggering 63% of GAIN’s 2023 interns were offered full-time employment in the industry! Sweden’s investment industry is in desperate need for an initiative like this. Despite often being referenced as a highly egalitarian society, the Swedish investment industry lags behind many other European countries in terms of diversity among investment teams and funding to diverse founding teams. I am hugely hopeful for the change that GAIN will bring to the Swedish investment industry and urge everyone who shares our vision and mission to get on board!” said Caroline Hultman, GAIN UK Co-founder & GAIN Sweden Trustee Board Chair 

With the leading private equity firm Altor Equity Partners as its first investment partner in Sweden, GAIN Sweden will launch the same initiatives that have significantly strengthened and diversified the UK entry-level investment management pipeline.

“When we met with GAIN we were impressed by their ambitions, methods and track record in the UK. We are proud to be backing their expansion and look forward to the effect their programs and initiatives will have on students in Sweden. GAIN is addressing an issue that is affecting the whole investment community and the lack of diversity is a missed opportunity of highly needed talent. We see that their programs fill a gap where very few initiatives are active today. Our aim is that the students they reach, educate and inspire become our peers, colleagues and partners in the future.”  said Linnéa Ekroth, Senior Associate at Altor Equity Partners.

GAIN Sweden is actively exploring collaborations with industry professionals and investment firms who share the vision of a diverse investment management industry and welcomes interested parties to get in touch. The official launch of GAIN Sweden is scheduled for the second half of 2024. GAIN Sweden will operate as a separate entity, managed locally. The GAIN UK team will continue its focus on the UK market, ensuring that both territories thrive independently.

ENDS***

Press Enquiries: Becky Taylor, Marketing Manager becky [at] gainuk.org

[1] Source: alpha-female-2023-sterling.pdf (citywire.com)

[2]  63% of students who took part in GAIN’s 2023 internship programme were offered an investment role or subsequent investment internship, excluding those still at university & those who did not respond to a follow up survey.