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Laxman Pai, Opalesque Asia:

The Investment Company Institute (ICI) has taken significant steps to advance the Institute's work and commitment toward fostering greater diversity and inclusion in the fund industry.

Based on recommendations from a board-level working group on diversity and inclusion, the ICI Board of governors said the steps will include conducting ongoing surveys to measure industry demographics at both the board and workforce levels and developing a benchmark for diversity gains.

ICI leaders also resolved to create several pipelines for getting more women and members of minority groups into investment management and legal careers by connecting with them while they are in school and offering more job opportunities early in their careers. The working group now becomes a standing ICI board committee.

"As an industry, we can-and will-do more to foster a more diverse and inclusive workforce, and ICI provides a critical forum to help encourage and execute that work," said George C. W. Gatch, ICI chairman and CEO of J.P. Morgan Asset Management. "The board's direction will help leaders from across the industry work together to take action and make meaningful progress in this area in the years to come."

The board's resolution endorses the working group's key priorities, including conducting an industrywide D&I survey, reporting on the makeup of fund boards, and implementing pipeline initiatives to bring more women and members of racial and ethnic minori......................

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