To keep moving the needle on diversity within the world of institutional investing, it’s important to strengthen, enhance or modify partnerships meant to advance that mission, said Nancy Sims, president and CEO of the Robert Toigo Foundation.
That’s what the foundation aims to do under its new partnership with the Chartered Alternative Investment Analyst Association, she told Pensions & Investments in an Aug. 20 interview alongside CAIA President John Bowman.
Moving forward, CAIA will provide Toigo fellows and alumni access to educational resources and networking opportunities in the hopes of improving their exposure to alternative investments,
Recipients can access educational material on alternative investments with the ability to learn synchronously through webinars hosted by charterholders, or asynchronously through videos filmed with members including Bowman, who will also take on the role of CAIA’s CEO on Dec. 31.
The intended end result is to improve the path for diverse financial professionals in obtaining certification and set them apart in the job market, Bowman said.
Of the more than 2,000 Toigo alumni, close to 10% of them have obtained CAIA designation, Sims said. But within the overall alternatives industry, diverse talent make up “mid-to-high single digits,” Bowman noted, adding that within specific asset classes such as venture capital, “sadly, it’s even lower than that.”
Networking events through CAIA’s 35 chapters worldwide will aim to connect Toigo participants with industry professionals as well as potential hiring managers.
“There are always going to be ebbs and flows,” in the march toward diversity, but “this time is differentiated in many respects,” said Sims, who pointed to growing concerns over the future of initiatives meant to support diverse talent.
When one assembles teams with members of different socioeconomic backgrounds, race, gender and upbringings together, and then “you embrace, invite and celebrate different perspectives, you’re going to make better decisions,” Bowman added. “In our industry, what that means is clients are going to benefit with better investment outcomes.”
