Diverse Asset Managers Initiative (DAMI) Launches Website, Aiming to Increase Number of Assets Managed by Diverse-Owned Firms

WASHINGTON, D.C. – Today, the Diverse Asset Managers Initiative (DAMI) launches a new website in its effort to increase the number of assets managed by diverse-owned firms, with a specific focus on the following sectors: foundations, university endowments, corporations, faith-based organizations, unions and public sector institutions.

Leading the effort are four co-chairs: Mary Kay Henry, International President of Service Employees International Union; Alberto Ibargüen, President and CEO of the Knight Foundation; John W. Rogers Jr., Chairman, CEO & Chief Investment Officer of Ariel Investments; and William A. Von Hoene, Jr., Senior Executive Vice President and Chief Strategy Officer of Exelon Corporation. The multi-pronged approach to address the issue is being coordinated by Robert Raben, President & Founder of the Raben Group, a Washington, D.C. – based lobbying and consulting firm.

Diverse asset managers are severely underrepresented among the managers hired by institutional investors and often face multiple barriers that prohibit them from being considered or hired by institutional investors. While there is a critical mass of high performing diverse asset managers, there is an inadequate demand for their services. DAMI will focus on educating and raising awareness with key decision makers at public, corporate, faith and labor union pension funds as well as foundation and university endowments about the supply of high performing, diverse asset managers.

The DAMI Statement of Principles serve as a clear guide to partners by laying the groundwork to address the challenges and actions needed to build a vibrant, coordinated effort to change the culture of the financial services industry as it relates to asset managers. By implementing a peer to peer approach within the industry, DAMI seeks to increase the use of diverse asset managers by institutional investors and the amount of assets under their management.

Initial partners include:

• Amalgamated Bank
• American Federation of Teachers (AFT)
• Exelon Corporation
• Knight Foundation
• National Association of Investment Companies (NAIC)
• RG+associates
• Service Employees International Union (SEIU)
• Silicon Valley Community Foundation

For more information or interviews please contact Nery Espinosa at 214-263-1294 or by email at nespinosa@rabengroup.com.

The Diverse Asset Managers Initiative (DAMI) is a consortium of financial services professionals, institutional investors, corporate and philanthropic board members and trade associations committed to raising awareness among institutional investors about the benefits and opportunities of investing funds with diverse-owned asset management firms. For more information visit http://diverseassetmanagers.org/.