Survey Measures Diversity in the Investment Management Industry
CalSTRS in conjunction with Leading Edge Investment Advisers and Anira Advisory Group conducted the first of a series of five surveys to find out how members of the investment management industry feel about diversity.
The survey process aims to 'deepen understanding of the importance of diversity to our industry, its clients, and its professionals.' per CalSTRS. Future surveys will 'hopefully both broaden and intelligently inform the dialogue about diversity in our industry.'
CalSTRS attempted to answer two questions:
i) If diversity is broadly attractive, why is it that, at least anecdotally, so many women and minorities feel disadvantaged in our industry?
ii) If diversity is unappealing, is it because, in an industry characterized by frequently quantified results, people believe that women and minorities have underperformed demonstrably, or still do not have requisite skills?
Conclusions:
i) Biases against women and minorities still exist.
ii) Some portion of respondents to the survey report awareness of biases against women and minorities.
iii) There are structural and cultural issues preventing a tighter embrace of diversity.
iv) More study is required to identify trends regarding diversity, and whether or how efforts to expand diversity are working.
You can read the whole study here
Gillian Parrillo
The Sacramento Executive
