Pensions & Investments: It's racial bias, not merely an issue of access

By DANIELLE WALKER | New research pokes holes in the theory that the lack of diversity in asset management is primarily a pipeline problem, caused by either a lack of access or outreach to minority talent in the field, and that Black fund managers must overcome racial bias to win institutional money and are judged more harshly as top performers.

The new research on racial bias in institutional investing was published in the scientific journal Proceedings of the National Academy of Sciences and funded by Prudential Financial and the William and Flora Hewlett Foundation.