Pensions & Investments: It's racial bias, not merely an issue of access
New research shows that Black fund managers must overcome racial bias to win institutional money and are judged more harshly as top performers.
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New research shows that Black fund managers must overcome racial bias to win institutional money and are judged more harshly as top performers.
For a decade, Knight Foundation has been intentional about identifying high quality, diversely-owned asset managers when investing its endowment. In response to frequent questions from a variety of stakeholders into the performance of the charitable sector regarding this issue — the questions arising from the general lack of data — Knight Foundation asked Global Economics Group to assess the representation of diverse asset managers among foundations.
An increasing number of foundations are embracing racial equity/equity as a core value, and it is influencing how they see themselves and operate. However, evaluation has for the most part remained untouched. Knowing how race/racism has influenced both, philanthropy and evaluation, deepens our understanding of how philanthropic evaluation practice may unintentionally reinforce racism. Equitable evaluation shifts the current evaluation paradigm to one that centers equity/racial equity, so that it is more aligned with the values and intentions of current day philanthropic endeavors.
ABFE: A Philanthropic Partnership for Black Communities (ABFE), recently conducted a study to learn how leaders of Black-led social change organizations in the United States and U.S. Territories describe their interactions with institutional philanthropy.
Grantmaking with a Racial Justice Lens: A Practical Guide centers the perspectives of racial justice activists first, and then of funders working on change in their institutions, to identify best practices for driving philanthropy beyond racial equity toward racial justice.