Asset Management Industry's Top Lobbying Group Asks SEC to Require Diversity Data

For Immediate Release: June 8, 2021

Contact: Carolyn Clendenin, cclendenin@rabengroup.com, 347-869-7382

Diverse Asset Managers Initiative Applauds Landmark Decision from Asset Management Industry's Top Lobbying Group

Washington, D.C. - The Investment Company Institute -- the asset management industry's top lobbying group -- recently asked the SEC to require companies to disclose their diversity data. 

Robert Raben, founder of the Diverse Asset Managers Initiative, issued the following statement in response:

“We are pleased that the Investment Company Institute has publicly recommended that the SEC require companies to release their diversity data. DAMI has been advocating for this very mandate for years. Far too many companies have repeatedly refused to publicly share information on their gender and racial representation. They hope to avoid drawing public scrutiny and re-examining discriminatory company practices.”

“We need data to catalyze progress on diversity. With such a major group backing data transparency, we are hopeful that a major momentum shift is underway.”

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The Diverse Asset Managers Initiative is an effort to increase the absolute number of, and assets under management by, diverse-owned asset management firms for institutional investors, with specific focus on public, corporate, faith and labor union pension funds as well as foundation and university endowments.