The Dallas Employees' Retirement Fund Begins Unique Program to Encourage Diversity Among Its Fund Managers
Dec 02, 2015, 09:30 ET
DALLAS, Dec. 2, 2015 /PRNewswire/ -- The $3 billion Dallas Employees' Retirement Fund says diversity among its fund managers has helped drive better returns on its investments. The fund committed to allocating 10% of its portfolio to early stage investment managers with strong performance and is well on its way to achieving that goal.
The first Next Generation open house will be held at the fund offices on December 10, 2015. The keynote speaker will be Jason R. Howard, Director of Investments at GCM Grosvenor one of the world's largest and most diversified independent alternative asset management firms.
In order to increase opportunities it has launched the Next Generation Manager program to generate interest among minorities who have not considered such careers, provide access to investment opportunities that may otherwise be overlooked, and discover and cultivate the next generation of external portfolio management talent.
The program will host quarterly open houses in Dallas with the goal to provide new managers with an opportunity to learn about the Fund, investment goals and the process to hire managers. Each open house will feature a guest speaker to discuss an aspect of the investment process. Open houses are limited to 30 attendees to promote conversation and interaction.
"Next Generation Managers conferences and seminars will provide an opportunity to learn about ERF including the organization, investment goals and the process by which it hires and monitors investment managers," said Carla D. Brewer, ERF Board Chairman. "In addition, accomplished speakers with diverse backgrounds will provide helpful insights into their professional journey and building their respective businesses."
"This program is not about diversity for diversity's sake," said Cheryl Alston, ERF Executive Director. "It is about having the very best returns for the current and retired Dallas city employees we serve.
Our speaker has been a success in this field and will be a terrific role model and mentor for others who want to succeed."
According to statistics published in Asset International, Inc., "nearly 90% of senior money managers in the U.S. are white," women and minorities make up only a tiny fraction of senior asset managers.
"We look forward to opening up new opportunities for managers who can help us now as well as encouraging a more diverse group of professionals to enter the field," said Alston. "We want the best minds working hard to provide the retirement security our city employees have worked so hard to earn."
Registration for the program is open at the ERF web site www.dallaserf.org/events
SOURCE Employees’ Retirement Fund of the City of Dallas
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