Many institutional allocators are troubled by the self-evident lack of diversity in investment management.
It’s easy to suggest that one fix that: cultivate more diverse talent! Build a more welcoming environment for new funds! But how exactly would one accomplish that?
Many pensions made worthy attempts with emerging manager programs, which were meant to support asset managers that did things a little differently. Unfortunately, those different managers were very much the same as others when it comes to delivering lackluster performance.
So now they’re canceled. Not everywhere, but at enough pensions that it makes a trend. On this episode of free money, Ashby and I talk about what this means for diversity, inclusion, and innovation in the industry.
And as always, we answer the questions on every institutional allocator’s mind. Specifically:
Apparently allocators will still consider backing investors who've had trouble with sexual harassment. WTF? But like actually.
