The organization, which is focused on shifting the paradigm of who controls capital, has appointed an advisory board to help achieve its goal of having 33% of assets under management handled by gender-diverse and racially diverse fund management teams by 2033.
The investment consultant saw an increase to both client assets with diverse firms as well as client strategies managed by diverse firms in 2023, according to its latest report.
A consulting firm increased the number of diverse managers in institutional client portfolios to 331 in 2023 from 285 in 2022, 270 in 2021 and 190 in 2020.
With limited hours in the day, timing is important for allocators to be conscious of when seeking new firms, while emerging managers can benefit from knowing one’s audience, according to a recent webinar.