CFA Institute brings investment firms together to test the effectiveness of diversity, equity and inclusion practices

Find seismic change in DEI leadership

NEW YORK, September 7, 2021 /PRNewswire/ — The CFA Institute, the global association of investment professionals, today released the findings of its Experimental Partner Program, an international project that brought together 41 investment organizations to test the effectiveness of diversity, equity and inclusion (DEI) practices in the investment industry. Participating companies represent approximately $26 trillion of assets under management and more than 230,000 employees.

The program asked participating organizations to select, act on and report on up to three DEI ideas to determine what works best in practice for investment organizations. The findings appear in Accelerating Change: Diversity, Equity and Inclusion in Investment Management. This report outlines key practical and actionable elements of the agenda to advance diversity, equity and inclusion, and explores strategies to achieve behavioral and organizational change for companies at all stages of their work. DEI.

The results of the program reveal a sea change in the industry regarding the responsibility for DEI within organizations, with the responsibility now resting with business owners and with DEI objectives increasingly integrated into overall business plans. .

Marguerite FranklinCFA, President and CEO, CFA Institute comments:

“In what has become a very dynamic time of global change, the Experimental Partners program brings a wealth of new data, both qualitative and quantitative, that companies of all sizes can rely on to shape and support their DEI strategies. Strong signals are emerging that DEI strategies are bringing real cultural change to companies, but the impact of this culture change on the early career choices of young women and underrepresented groups – and the lack of opportunities for those who are already in the industry – yet to be determined. a real opportunity and a clear imperative to apply his deep capacity for analytical rigor to this work. The candid conversations shared with us by these leading companies through this program will contribute significantly to the progress needed to meet the industry’s current DEI challenge.

Main conclusions:

  • Successful diversity, equity and inclusion strategies require distinct components:

  • While measurement isn’t everything, employee survey data should connect and triangulate different types of data for better understanding of employees. In addition to census data, examples may include salary and promotion data.

  • The stage is set for DEI data to become part of the manager selection process: companies are increasingly recognizing the need to be consistent with the sustainability assessment processes they use with their beneficiary companies; in some cases, DEI is a major factor in the decision to work with a new investment manager.

Sarah MaynardASIP, Global Head, External I&D Strategies and Programs, CFA Institute comments:

“The investment industry continues to seek to improve DEI results, but it is never easy for business leaders to take a critical look at their organization and commit to making lasting change. Data from our Experimental Partner Program provides direct industry feedback that senior leaders can be highly effective in implementing their company’s DEI strategy when they visibly engage and communicate regularly with staff. Developing fluidity around DEI can put us in touch with difficult and sometimes taboo conversations Companies considered mature on their DEI journey show us that by emphasizing communication, and with governance and resource groups in place, leaders and employees can become fluent and work together to effect change and make im related to their DEI objectives, from which the whole organization benefits.

For more information or to speak to the author of the report, please contact [email protected]

Notes to Editors

The Experimental Partners Program ran from July 2019 for December 2020. Participating organizations provided quarterly updates to the CFA Institute on what worked and what didn’t. Participating organizations range from small, single-office businesses to global enterprises with multiple locations and thousands of employees. Most are asset managers.

Recognizing the complexities of DEI on a global scale, the Experimental Partner Program was designed for organizations in North America. Overall, 83% of participating organizations are in United States10% in Canadaand 7 percent in Australia. Each organization selected up to three ideas for action—from a menu of 20—drawn from Driving Change: Diversity and Inclusion in Investment Management. The selected ideas fall into the following categories: DEI fundamental concepts, communication, talent acquisition, talent development, measurement and accountability, and networks.

The findings of the Experimental Partners Program are reflected in the project Voluntary Code of Diversity, Equity and Inclusion for the Investment Profession United States and Canadapublished by the CFA Institute in July 2021. The DEI Code Project is a collaboration between the CFA Institute and a working group of investment industry leaders and outlines six principles to foster greater diversity, fairness and inclusion within the investment industry. The consultation period to gather industry feedback on the draft DEI Code ran from July 7 to September 4. The DEI code will initially be launched in North America in November 2021.

About the CFA Institute

The CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in the investment markets and a respected source of knowledge in the global financial community. Our goal is to create an environment where the interests of investors come first, markets function best and the economy thrives. There are more than 170,000 CFA charter holders worldwide in 164 markets. The CFA Institute has nine offices around the world and there are 161 local societies.

To visit or follow us on Twitter at @CFAInstitute and on


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SOURCE CFA Institute