|
Bailey McCann, Opalesque New York: Community foundations are focusing more on diversity, equity, and inclusion (DEI) policies, according to new data from FEG Investment Advisors. FEG surveyed 110 U.S. community foundations representing more than $30 billion in assets under advisement to understand trends in the industry.
FEG Investment Advisors is a $74B AUA investment advisory firm.
2021 marked the first year that more than half of all community foundations had adopted "Responsive Investing" strategies within their portfolios.
A majority of respondents defined diverse managers as those having more than 50% composition of ownership and/or portfolio managers described as women or persons of color.
"In 2021, we saw a noticeable jump of community foundations who have considered hiring diverse managers as well as an increase in interest by donors about investing with diverse asset managers," said consultant Quincy Brown, Senior Vice President and Director of Client Service at FEG. "Though many foundations are still evolving their own definition of diverse managers, we continue to see organizations prioritize diversity not just in ownership and leadership, but also in portfolio managers and managers' own investment in diversity, equity, and inclusion."
According to survey data, for those foundations that have started to hire diverse asset managers, they've added 5 on average - an uptick from prior years. A further 5% of respondents said that they h...................... To view our full article Click here
|
RSS
