•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Laxman Pai, Opalesque Asia:

Capital allocation to women- and minority-owned asset management firms remains far lower than allocation to other firms as the overall percentage of assets under management controlled by diverse-owned firms was only 1.4 percent, said a study.

The Knight Foundation report said: "When looking at the number of U.S.-based minority-owned firms within each asset class, we find the highest representation among hedge funds and mutual funds, in which 9.3% and 9.2% of firms are minority-owned, respectively."

For women-owned firms, the study sees the highest representation among private equity and mutual funds at 7.2% and 6.7%, respectively.

The report studies diversity in the U.S.-based asset management industry, using a sample representing USD 82.24 trillion in assets under management (AUM).

In real estate, it sees the lowest representation of both minorities- and women-owned firms. "Viewing the data holistically, we find that the overall percentage of U.S.-based firms owned by minorities is 6.1%, while women ownership at the firm level is also at 6.1%," it said.

Moreover, the study finds that there is even greater underrepresentation in the amount of capital controlled by these groups. For instance, despite the representation of minority-owned firms being relatively high in the mutual fund industry, at 9.2% when the study instead considers AUM, the study sees much lower minority representation in mutual funds--on......................

To view our full article Click here