Phoenix Group has announced it has become a signatory to the Asset Owner Diversity Charter.

The initiative aims to formalise a set of actions that asset owners can commit to, to improve diversity in all forms across the investment sector.

Upon becoming a signatory, Phoenix has committed to supporting a more balanced and fair representation across the asset management workforce.

Initiative members commit to incorporating diversity questions into the individual manager selection and monitoring processes, as well as collaborating with others in the investment sector to promote diversity, equality and inclusion best practice.

Phoenix noted that a ‘key component’ of the charter was to standardise complex diversity metrics beyond solely gender to improve on disclosures.

“By being a signatory of the Asset Owner Diversity Charter, we hope to play our role in the drive towards greater diversity in the investment industry,” commented Phoenix Group head of stewardship, Valeria Piani.

“As much as we are expecting investee companies to attract and nurture a diverse pool of talent to be more resilient and successful, we are extending the same expectations to our asset management partners that responsive to deliver returns for our customers.

“We look forward to being an active member and collaborating with fellow asset owners on this crucial topic.”

Asset Owner Diversity Working Group co-chair, Helen Price, added: “We are delighted to welcome Phoenix Group, on of the largest asset owners in the UK, to the growing list of signatories to the Asset Owner Diversity Charter.

“Together, we are committed to collaborate and to build and investment industry which embodies a more balanced representation of diverse societies.”

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