A spotlight on female fund managers part one – Audrey Ryan

Description: This video is an interview featuring Emma Wall, Head of Investment Analysis at Hargreaves Lansdown, and Audrey Ryan, Fund Manager at Aegon Asset Management. The video begins with Emma and Audrey facing into the camera as they both dial into a video call.

Emma Wall:

Hi there, Audrey. So, we are thinking about women, the city, the investment world and how to get women investing more and taking control of their financial futures. I thought I'd start by asking you, how you came into the world of investing?

Audrey Ryan:

In my latter part of senior school, I started doing accountancy and very much enjoyed it. I then progressed to do an accounting degree at university and then moved on to do a chartered accountancy qualification, and so I guess I'd shown an interest and all those years in finance and following equity markets.

Once I'd qualified and had two years' experience within accountancy, I looked for an opportunity in investment and fund management, and I was fortunate enough to move into the industry in 1995.

And I can quite honestly say I have enjoyed the last two decades and no two days have ever been the same in my day-to-day work environment, and so very much enjoy what I do.

Emma Wall:

That seems then an early focus in finance, which isn't always the case with women who find themselves in this industry. What was it about finance, about maths, about investing, that so got you hooked?

Audrey Ryan:

I think in the very early days, my father was quite interested in investing and following the market. So, I think part of that rubbed off on me. So I took a little bit of an interest in that and I then distinctly remember on an October mid-term break, the entire family went to London and we were taken to the London Stock Exchange, and very much recall that and you know that that stays with me till this day.

Throughout time I just continued to read and evolve my interest in investing and kept pace with the market, so you know quite early on I would say I established that kind of relationship and interest and just kept moving with it.

Emma Wall:

And you've mentioned that you've been in this world since 1995. I mean, still female fund managers are very much in the minority, but back then it must have been even more so. Were you often the only woman, not just in the room, but in the building?

Audrey Ryan:

In my chartered accountancy days, I worked for a very strong female individual. She was my manager. I would say she would say she was my mentor. It was slightly different in terms of gender diversity within that, but she was a very driven, motivated individual, and actually she made it to become the first partner in that accountancy practice.

When I moved into fund management, I was part of a team. There were other female fund managers there and I think the ratio is still very much the same today within the team within which I work, and so you know things have not changed in terms of percentage in our UK team, but we have continued to throughout the business.

I would say the agenda on diversity in its widest sense, not just gender and inclusion, has been something that we've been working on over the last number of years throughout the business from my colleagues on the floor right up to the board level.

So yeah, things have. I think things have evolved within the industry for the good, but I do see some other issues in in other industries. It's not just fund management and investment.

Emma Wall:

Now that forward thinking that you've mentioned that you've been so lucky to be a beneficiary of in having that gender mix also plays into your specialism as a fund manager.

Isn't it because thinking about diversity, we always think that that is the S of ESG, and of course, ESG is fundamental to the way that you invest [Aegon's] ethical fund.

Do you think that's helped to be part of a company that puts ESG at the forefront of their investment process, and therefore perhaps in the way that they think about running the business?

Audrey Ryan:

Yeah, I absolutely think that it is central to what we do. We've been running ethical type monies for more than 30 years – we've continued to develop and evolve our offering on responsible investing across all our asset classes. And I guess the learnings that we took from back in the early 90s and in terms of thinking about environmental, social and governance aspect has benefited the entire business.

I think it has benefited our clients, but also benefitted the way that we as a company have evolved and developed and I would say all for the good.

Emma Wall:

Now looking at the data for women and men in investing. There is no denying the fact that women do not invest as much as men. Their pension pots tend to be smaller and therefore their financial independence is less secure. So what top tips would you give our female clients or prospective female investors in order to take charge?

Audrey Ryan:

I'd start off by saying that thinking about one's financial future is important for us all, not just by gender.

And I guess probably the five key things I would highlight and – very honestly – I didn't know all these things when I started out. It has been a learning curve in some of these aspects, but I guess firstly my key point would be to start saving and investing as early as one can. It will reap the benefits absolutely.

And two, I would say planning. Think about planning – make investing or saving part of your monthly budget and don't just take it from what's left off at the end. Plan for that. That type of saving, even if it's just quite modest amounts at the start, just getting into that routine I think is really, really important.

And then do one's homework. There's lots of information out there that you can access and much of it is jargon free and less confusing and less complex for certain investors out there. And if you think it's the right thing for you, then seek financial advice. That is the solution for a number of individuals.

Patience is also something I think is important. One has to plan, prepare, but also having patience I think is one thing people should think about because ultimately, for many, this is quite a long game. We are investing for perhaps retirement or later stages in life.

The final point I would make is to think very carefully about diversification. Whether that be by geography, sector or indeed by asset class - no one wants to put all their eggs in one basket or shouldn't want to in my view. I think it's good to think about one's tolerance to risk and what your own financial objective and target is for the future. Because as we know, everyone is different. The starting point is different, and the end objective may be different.

Emma Wall:

Audrey, thank you very much.

Audrey Ryan:

Thank you.

The views and topics in this video are not personal recommendations or advice. If you need help choosing investments, please speak to a financial adviser.

Remember if you do choose to invest, the value of investments can fall as well as rise so you could get back less than you put in.