Phoenix supports #100blackinterns initiative

A 2018 study by New Financial highlighted the chronic underrepresentation of Black people in the finance industry, finding there to be as few as 12 Black portfolio managers in the entire UK investment management industry.

The #100blackinterns initiative will focus on addressing this issue by creating meaningful opportunities for young, university-educated Black people trying to break into the industry.

Phoenix Equity Partners is among the many firms that will next summer be offering a Black candidate the opportunity of a paid internship, in a frontline investment role. The premise of this programme is that providing 100 internships for Black candidates each year should, in time, lead to a measurable increase in the number of Black portfolio managers in the UK.

Dawid Konotey-Ahulu, co-founder of pensions advisory group Redington and online pensions forum Mallowstreet, said: “In over two decades in the City, I have rarely come across anyone who looks like me. It is so powerful that the investment management industry has agreed to help welcome more Black talent into our industry. We hope other professions will follow suit and have an impact on the representation of Black talent in their own industries.”