Institutional investors have a new forum for discussing ways to increase diversity in their investment decisions and in their own organizations.
Investment consultant NEPC’s Investment Diversity Advisory Council, an open forum, “will allow us to engage with our clients directly in conversations that help all stakeholders — including our firm — expand our definitions of diversity and continually improve the measurement benchmarks we use to track our collective progress,” said Samuel M. Austin III, an NEPC partner who chairs its diversity and inclusion board and co-chairs NEPC’s diverse manager committee.
NEPC has $32 billion of client assets invested with diverse firms and nearly 40% of firm clients use diverse managers across public and private equities, hedge funds, private debt and private real estate.
The Investment Diversity Advisory Council is part of a broader NEPC effort to fulfill data-driven goals of a diverse managers policy announced in 2019. To reach the primary goal of having diverse managers represent 10% of NEPC’s focused placement managers list by 2021, the firm has committed to a 10% increase in meetings with diverse firms in 2020, and to provide feedback to those firms within three months.
NEPC held a pilot forum in February with 10 self-selected public fund clients discussing short- and long-term goals for increasing diversity in boardrooms, vendor lists, workforces and investment manager selection processes. Tom Tull, chief investment officer of the $29.1 billion Employees Retirement System of Texas, Austin, said officials there enjoyed being part of the pilot and look forward to working with NEPC on diversity initiatives.
“Diversity is a key focus area for our organization,” Mr. Tull said. The Investment Diversity Advisory Council “was something that immediately resonated with our leadership team,” said Sean Bill, CIO at Santa Clara Valley Transportation Authority, which has a diverse workforce and board.
The next forum will be held at NEPC’s annual client conference May 20 in Boston.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
