The System of the University of California has advanced in the diversification of its investment and partners office, according to a report of diversity, equity and inclusion published last week.

The second annual report is the most detailed look at the gender, racial and ethnic makeup of a college investment or university team to date, said Robert Raben, founder of the diverse managers' initiative of assets.

"is better in class," he said about the report, "but the class is terrible."

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    are generally white and masculine. The diverse initiative of asset managers has promoted institutions to diversify their investment offices and investment firms from partners for years. The group was associated with several democratic legislators and the Reverend Al Sharpton, a prominent civil rights activist, last summer and demanded two dozens of the richest colleges and universities to release detailed information about the diversity of their downtime administrators. The System of the University of California was among the colleges requested to launch the information. All universities met except for the University of Norte Dame.

    The University of California covers 10 institutions and employs 63 people in their investment office, which administers a $ 161 billion portfolio that includes envelope, retirement and cash assets. . The labor force of system investments is more diverse than it was four years ago, showed the new report. About 38 percent of investments, employees are Asian, 36.5 percent are white, 12.7 percent are black, 7.9 percent are Latinx and 3.2 percent are two or more races, 2020 data were shown. The percentage of black employees has more than duplicated since 2016, when it was 5 percent. Meanwhile, the percentage of Latinx employees has decreased in recent years, falling from 13.3 percent in 2017 to 7.9 percent in 2020.

    Women have achieved approximately one third of the workforce of Investments in recent years. In 2019, the percentage of women's employees reached its maximum point by 35 percent and then fell to 32 percent in 2020. These percentages delayed behind the general female representation in the US financial services industry. UU ., When women represent around 44 percent of employees, according to the report.

    However, the University of California employs a higher percentage of people of color than the financial services industry as a whole. Color people represent 62 percent of investment employees in the university system and only 32 percent of employees in the financial services industry.

    The system also surveyed its associated investment firms to determine which signatures are owned by people from underrepresented demographic groups. The report calls such firms "of diverse property" and defines them as firms owned by women; Veterans; o Latinx, Native American, Black, Asian and Pacific Islander, LGBTQ or people with disabilities. googleg.cmd.push (function () googleg.display ("dfp-ad-article_in_article");); Do you want to announce? Click here

    of the 123 investment partners surveyed, 18 have at least 50 percent or more diverse property, 28 have between 25 and 50 percent diverse property and 72 are less than 25 percent of diverse property .

    The university system was associated with five new investment companies in 2020: one that is owned by black men, one who is owned by black women, another that is owned by white women and two whose Diversity of property ownership data is less than 25 percent, depending on 25 percent. The report.

    The report at the University of California is notable in part because the colleges and universities are notoriously tightened, which handles their millions. The main investment officers in rich institutions usually earn more than the presidents of Coll

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