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Diversity in the ownership of investment managers is vital for diverse representation throughout organizations as asset management firms owned by women and people of color are at least three times more likely to employ diverse teams when compared to firms led primarily by white men, according to a new study from the John S. and James L. Knight Foundation in partnership with Global Economics Group.
Investment consultant Callan has launched a new diversity, equity and belonging initiative.
More than two-thirds of endowments and foundations, 69%, are making diversity, equity and inclusion a priority — meaning part of their mission statement or actively discussed in board meetings, according to a recent survey.
The $911 million Alameda-Contra Costa (Calif.) Transit Employees’ Retirement Plan is conducting a diversity survey among its investment managers, according to March 17 board meeting materials.
Many institutional investors think diversity should be weighed when selecting an investment manager, however, a significant percentage have not yet hired a diverse-owned firm, according to a recent poll from investment consultant FEG Investment Advisors.
Two years ago this column was written with the uncertainty of what was to come. Just weeks into a global shutdown brought on by COVID-19, very few could have imagined the past two years playing out the way they have.
