Local Pensions Partnership Investments signs up to Asset Owner Diversity Charter to tackle a lack of diversity across the investment management industry | Local Pensions Partnership (LPP)

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Local Pensions Partnership Investments signs up to Asset Owner Diversity Charter to tackle a lack of diversity across the investment management industry

Investment management suffers from a severe lack of diversity. The Diversity Charter offers businesses a toolkit to analyse how asset managers are performing on diversity and inclusion – and where they can improve.

By signing up to the Asset Owner Diversity Charter, signatories are committing to take account of diversity and inclusion records from fund managers when choosing new partners. Diversity questions will form part of the overall assessment scores for each bidder, meaning fund managers wanting to work with these clients will have to disclose information and demonstrate real devotion on how they are tackling diversity and inclusion within their workforce.

Signatories also commit to including diversity as part of ongoing manager monitoring, a questionnaire will be provided to managers annually for completion. A key aim of the group was to create standardisation to improve disclosure. The charter questionnaire has been developed to be progressive and equip signatories to hold firms to account for ongoing progress. It goes beyond asking about the strategic approach, to identify how managers look at diversity and inclusion across five key areas:

Industry perception
Recruitment
Culture
Promotion
Leadership

For more information, visit the Diversity Project.