Thanks to Roy Swan and Ford Foundation for our partnership to address #racialbias and #genderbias in the global #assetmanagement field. Special thanks also to Stanford SPARQ for our research partnership and to Forbes for featuring Illumen Capital in the article. Read more here: https://lnkd.in/gNBC78sc
Recent research from Illumen Capital, a Ford Foundation grantee and investee, and Stanford SPARQ found that some fund allocators are more likely to leave money on the table than invest in high-performing Black-led funds. This kind of biased behavior is self-destructive because it severely limits America’s economic potential and weakens America from a national security perspective. As Illumen CEO Daryn Dodson says in the below Forbes interview, “those [who] are preventing the flows of capital to women and people of color are desperately trying to do it against their own financial interest and returns.” Although that behavior is economically irrational, it is a concrete example of the hypnotic power of conscious and unconscious racial bias. Read more about how racial bias and lack of diverse fund managers is problematic for the broader financial markets here: https://bit.ly/4c1wW4l. #impactinvesting #diversefundmanagers