Girls Who Invest expands reach to boost female money managers
Rachel Simpson’s phone blew up with good-luck texts on the first day of her internship at Vista Equity Partners, most from other young women she’d met through Girls Who Invest. Now that the internship is over, she expects her new friends, and the lessons learned at the innovative training program, will help propel her into a career in finance.
Girls Who Invest is a three-year-old program pushing to increase gender diversity in asset management. It is expanding its reach, enrolling more students than ever and offering programs at two campuses and on the web. This year, 120 college students made it through a month of money management boot camp before heading off to internships at one of 66 partner companies, most of which wrap up this week.
For women like Simpson, a Duke University junior studying economics, the program augments college studies with training and real-world experience.
“I haven’t reached the part of my major yet in which I’ll take finance electives, so most of the stuff I’ve been learning in class has been really theoretical,” Simpson said. “This helped going into my internship.”
Fewer than 10 percent of U.S. fund managers are women, according to a Morningstar report. Girls Who Invest, seeking to diversify the industry, wants 30 percent of investment capital worldwide run by women by 2030. Janet Cowell, the group’s chief executive officer, said women have a harder time breaking into the business.
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