Group advocates for diverse money managers

The Diverse Asset Managers Initiative has launched a website with the goal of assisting the growth and proliferation of diversely owned money managers.

“The purpose of the website is to provide a centralized resource for institutional investors who are looking to either establish or further a program associated with increasing the utilizing of diverse asset management firms,” said Rory Verrett, co-director of the Diverse Asset Managers Initiative and principal at The Raben Group, in a telephone interview.

Diverse money managers may include minorities, women and people with disabilities.

“We have a couple of key reports and articles about utilizing diverse asset managers, and we have links to the trade associations associated with diverse asset managers,” Mr. Verrett said. “Those are just two starting points for investors who look to establish a program.”

Serving as honorary co-chairs of the initiative are Mary Kay Henry, international president of the Service Employees International Union; William A. Von Hoene Jr., senior executive vice president and chief strategy officer at Exelon Corp., Chicago; Alberto Ibarguen, president, CEO and a trustee of the John S. and James L. Knight Foundation, Miami; and John W. Rogers Jr., chairman, CEO and chief investment officer of Ariel Investments.

More information is available on the Diverse Asset Managers Initiative's website.