Fund managers recognize benefits of reducing racial & gender bias
2023 data
Annual Asset Management Impact Report
What’s in this report from Illumen Capital:
Studies show that as stressors increase, individuals are more likely to rely on their biases when making decisions. This tendency is pronounced in the asset management industry during periods of high inflation, market volatility and increasing political polarization, amid ongoing backlash against DEI efforts. These heightened biases often result in a disproportionate decline in funding being allocated to women and people of color, exacerbating existing disparities. Illumen Capital’s annual report is informed by proprietary quantitative and qualitative data that highlights industry trends, including:
- Over 80% of respondents recognize the financial and moral benefits of DEI, with 87% advocating for perspectives that mirror societal demographics.
- Between 2022 and 2023, there was a 12% increase in fund managers’ confidence in their ability to drive change through diversified investments.
