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Women forecast to hold 45% of assets under management by 2030 - research

Female entrepreneurship is on the rise in Ireland with female founders securing €234m in funding for tech startups in 2022, new research from AIB shows
Female entrepreneurship is on the rise in Ireland with female founders securing €234m in funding for tech startups in 2022, new research from AIB shows

Women are forecast to hold 45% of assets under management by 2030, according to "The Future is Female", a new paper commissioned by AIB.

Female entrepreneurship is on the rise in Ireland with female founders securing €234m in funding for tech startups in 2022.

The new paper also found that a new generation of Gen Z and millennial business women are now responsible for starting one third of businesses globally.

Meanwhile, there has been a 21% point increase in female representation on ISEQ-listed companies in the last five years, while women across other listed boards exceeded the 25% target for 2023 at 28%.

AIB partnered with trend forecaster The Future Laboratory to develop the paper which looks at the current landscape and maps the trends that will inform the future for female finance and financial planning in Ireland.

The new research found that the labour force participation rate increased by one basis point to 65.8% over the past year, boosting the labour force by 52,000.

Female participation rates rose to 61%, up from 56% pre-Covid, it noted.

It also found that while women are more risk averse when it comes to investing generally, when they do invest, they are more likely than men to place Environment, Social and Governance (ESG) at the heart of their investment portfolio.

52% of women claimed a preference to invest in businesses that have a beneficial social or environmental impact compared to 44% of men.

AIB also said there is a shift towards "agile leadership", away from presenteeism and supervision, which helps to enable female career advancements.

The author of the report, Miriam Rayman of The Future Laboratory, said that while there is quite rightly a huge focus recently on the gender pay gap, gender pension gap and obstacles facing women in the Irish economy, there is also so much momentum and progress being led by women in Ireland today.

"Taking global trends into consideration with this progress, there is a definite shift in the economic influence of Irish women emerging," she said.