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Results of an online experiment suggest that underrepresentation of people of color in the realm of investing is not only a pipeline problem, and that funds led by people of color might paradoxically face the most barriers to advancement after they have established themselves as strong 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.