Hollands added: “Fund management is first and foremost a human capital industry, reliant on finding very bright and analytical staff to look after other people’s wealth.
“It’s clearly not healthy for the long-term success of the industry to have such an imbalance like this because it suggests it is not effectively drawing upon the widest pool of talent.
“There isn’t a quick fix as ultimately there are a finite number of funds and incumbent managers can remain in situ for many years before passing on the baton to a successor.
“But firms can make a difference when recruiting at the graduate entry level and especially in areas like research which is often the key stepping stone into portfolio management.”
