A number of hedge fund managers and controllers are giving a new meaning to the phrase “Black Excellence”. According to a new report from Bloomberg that highlighted hedge funds led by females or minorities performed nearly twice as well as their non-minority counterparts. These men and women are running it up like never before, especially when it comes to Macro funds, designed to invest in broad, global trends, where minority leaders are outperforming the rest by more than 40 percent.
Why This Matters: While we should be celebrating the trailblazing brothers and sisters who’ve made these statistics possible, we have to keep it real with ourselves. There’s still a massive problem with diversity at hedge funds. Let’s not forget that as of 2018, 81 percent of hedge funds didn’t have a single Black investor. Black Enterprise reported that asset management firms owned by minorities and women manage a measly 1.1 percent of the industry’s $71.4 trillion.
Discover How Affordable Peace of Mind Can Be:
Get Your Life Insurance Quote Today!
Let’s not forget that as of 2018, 81 percent of hedge funds didn’t have a single Black investor
When you look at the role minorities play in elevating and advancing business, something just doesn’t add up. According to Fast Company, women started over 1,800 businesses per day. Specifically, women of color made up almost 90 percent of these businesses. Those 1,800+ jobs have created opportunity within communities and in business, employing north of 9 million workers and making nearly $2 trillion in revenue.
What’s Next: Minority leaders have been showing out in all areas of business, from small business entrepreneurs to high-powered hedge fund managers. We’ll be keeping an eye on the growth and diversification of today’s top hedge funds. Bloomberg’s report should at the very least create opportunities for the black & brown Kings & Queens of private equity. Until then, join me in sending a massive big-up to the diverse hedge fund managers that are changing the game!
CBx Vibe: “Started From The Bottom” Drake
This article was written by Justice Allen and published by CultureBanx. It is reposted here with permission. Read the original.
