ICYMI: FUNDfire Covers DAMI's Annual IC Survey Findings

View DAMI's Full Survey HERE

Washington, D.C. – In Case You Missed It: FUNDfire published a story today on the Diverse Asset Managers Initiative's (DAMI) 5th Annual Investment Consultant Survey. DAMI's survey assessed of the efforts to improve diversity among investment consulting firms and, at the five-year mark, the report was able to look into longer-term trends with firms that have consistently reported their numbers. The survey reveals that overall the numbers are terrible, that we’re seeing noticeable progress in pockets of ownership and senior consultants, and that firms still frequently conflate emerging and diverse managers. 

FUNDfire: Consultants Struggle to Make Major Strides 0n Diversity: Report

By Sam Heller, June 15, 2023

The investment consulting industry has made marginal progress in efforts to diversify its workforce, with firms like Cambridge Associates, Canterbury Consulting and Crewcial Partners showing significant improvement, while other large firms made little to no progress.

Fourteen investment consulting firms participated in the Diverse Asset Managers Initiative’s fifth annual investment consultant survey, which revealed that on average 72% of consultants’ staffers were white in 2022, 7% were African American, 13% Asian American and 8% Latino.

The survey shows a two-percentage point decrease in the share of white staff from 74% five years ago. The percentage of Asian Americans remained the same, while African American and Latino employees increased one percentage point and two percentage points, respectively, since 2018.

Read FUNDfire's full story HERE