Several years back, a long-standing client made an inquiry to Colonial Consulting, “why don’t we have more investment manager diversity?” This simple question turned into an eye-opening exercise that following a period of introspection, led the firm to rethink how to properly address the issue of diversity. In this NAIC report, we’ll chronicle the steps the firm took that resulted in significantly greater representation by diverse-owned firms in their clients’ portfolios.
Historically Black Colleges and Universities have been a cornerstone for African American higher education since the 1800s. Recognizing the value and need for these storied institutions, several NAIC members have put in their time and financial support towards ensuring that future generations have the opportunity to experience the best of what HBCUs have to offer. NAIC takes a look at the efforts by Robert F. Smith, Patricia Miller Zollar, José E. Feliciano, Willie E. Woods, JoAnn Price and Verdun S. Perry towards keeping these universities thriving in an increasingly competitive collegiate landscape.
Phoenix IP Ventures (PIPV) is an NAIC member based in Philadelphia that acquires well-known medicines that are off-patent or lack the broad-based appeal for multinational pharmaceutical companies and uncovers the hidden value within these products. Here we take a look at their strategy and highlight one of their home run deals.
Kirk Sims was tapped earlier this year to head the $5.7 billion Emerging Managers Program of the Teacher Retirement System of Texas. Sims, who formerly spearheaded the $750 million Emerging Manager Program for Teachers’ Retirement System of Illinois, will directly oversee the deployment of $3 billion in capital to emerging managers over the next 3-5 years under Texas TRS' Emerging Manager 3.0 Program. In this Q&A, Sims discusses his responsibilities, the fund's goals and how diverse and emerging managers fit into those objectives.
Based in Rio de Janeiro, DXA Investments sees great opportunities in Latin American small and medium-sized enterprises, which are often overlooked by larger international funds. In this installment of Member Focus, we take a look at DXA and how the firm’s strategy paid off with its first exit – to the tune of a 12.4X return on invested capital.
Acquiring Representations and Warranties Insurance is an often-overlooked strategic tool in the M&A toolbox, but one that can potentially benefit both those on the buy and sell side of a deal.
Diverse managers who have succeeded at world-renowned firms have done so by consistently delivering superior returns over many years in both good and bad economic environments. After building reputations as skillful investors, a growing number of these professionals are using their stellar performance records and gold-plated resumes to establish or join boutique shops, and are outperforming the competition along the way.
While the Federal government has made some strides with its supply chain diversity efforts, one area remains woefully homogeneous – financial services. However, efforts to diversify the US government’s investment manager base is gaining momentum with the help of trade associations, high-ranking politicians and industry professionals.
The financial services industry in general–and asset management in particular–has long held one of the worst track records when it comes to diversity and inclusion. This may change, however, due to the Diverse Asset Managers Initiative (DAMI), an effort aimed at increasing the number of assets managed by diverse-owned firms, particularly within corporate funds, faith-based funds, labor union pension funds, and foundation and university endowments.
Despite the superior returns generated by many diverse-managed funds, investments by the financial services industry remains remarkably homogeneous. This takes a look at the causes and potential solutions to this serious issue.