Institutional Investing Diversity Cooperative

This project is maintained by Verus

Diversity in asset management matters.

We believe that diverse investment teams - and viewpoints - enhance investment decision-making. We also believe that having more women and minorities in asset management roles improves the conversation, opens opportunities for all, and benefits the community at large.

Plans sponsors are increasingly looking for more inclusive representation in their investment partners to reflect the diversity in our society. Consultants need to be better equipped to support them in this goal.

"Measurement is the first step that leads to control and eventually to improvement."

--H. James Harrington, author and performance improvement and quality expert

Access to better data is a good starting point. Right now, ownership at the firm level is the metric that is commonly used to gauge the diversity of an asset management firm.

But ownership alone cannot tell the whole story.

We believe that diversity is multi-dimensional. Investment decisions are not always made by owners and owners are not always responsible for the success of a firm. We believe in the investment team as the principal engine of success for our clients’ investment portfolios. Diversity within a team is equally beneficial and should also be measured.

A call for more robust data and a broader definition of diversity.

It is for this reason that we, the undersigned institutional consultants and asset owners, have come together in an unprecedented alliance to form the Institutional Investing Diversity Cooperative (IIDC).

At IIDC, we are expressing a shared goal of ensuring greater diversity in the institutional asset management sector by advocating for access to data that would capture every dimension of diversity.

At our request, eVestment is enhancing its questionnaire to include diversity statistics at the firm and investment team level as well as details on firm policies and initiatives to increase the level of gender and ethnic diversity within senior leadership and investment teams.

Ask, then listen.

We cannot succeed in this endeavor without the cooperation and support of all institutional asset managers. Our goal is reach out to them to engage in dialogue – to “ask, then listen” – in a spirit of collaboration and shared purpose. By working together towards inclusion and transparency, we can better serve the needs of our clients and the millions of people who have entrusted the security of their future to our success.

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Neither the IIDC nor any member or adopter of the Statement on Diversity is responsible for the content of websites and information resources that may be referenced on this website. Such content remains the responsibility of the individual owners of such sites or the content provider. The access provided to these sites or the provision of such information resources does not constitute an endorsement by the IIDC or any member or adopter of the Statement on Diversity of the information contained therein. IIDC members or adopters of the Statement on Diversity are independent companies that have separately endorsed the diversity goals of the IIDC and the IIDC Statement on Diversity. IIDC members are not related to or affiliated with Verus or eVestment or with any other members or adopters of the Statement on Diversity. Statements made by Verus or eVestment or any member or adopter of the Statement on Diversity represent their own views, opinions and conclusions and do not necessarily represent the views, opinions or conclusions of any other members or adopters of the Statement of Diversity.