Many institutional allocators are troubled by the self-evident lack of diversity in investment management. 

It’s easy to suggest that one fix that: cultivate more diverse talent! Build a more welcoming environment for new funds! But how exactly would one accomplish that? 

Many pensions made worthy attempts with emerging manager programs, which were meant to support asset managers that did things a little differently. Unfortunately, those different managers were very much the same as others when it comes to delivering lackluster performance. 

So now they’re canceled. Not everywhere, but at enough pensions that it makes a trend. On this episode of free money, Ashby and I talk about what this means for diversity, inclusion, and innovation in the industry. 

And as always, we answer the questions on every institutional allocator’s mind. Specifically:

  • Why are “long-run short sellers” worried about GPIF’s move to restrict stock lending? 
  • It’s legal to do anything you want to an opossum in North Carolina from December 29th – January 2nd. What would you do with those five days?

Apparently allocators will still consider backing investors who’ve had trouble with sexual harassment. WTF? But like actually.

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