Photo by Adeolu Eletu on Unsplash

Investment consulting firm NEPC LLC has launched the Investment Diversity Advisory Council (IDAC) to promote diversity among institutional investors. It aims to create a forum of the largest institutional investors in the U.S. to discuss cases that support the benefits of diversity in decision making, best practices for promoting diversity in the financial sector and strategies for tracking progress over time.

Under the IDAC initiative, the firm’s Diverse Manager Committee will serve as an educational resource to help investors incorporate diversity and inclusion into their investment plans. The first IDAC forum was held in February where public fund clients conducted a workshop on how to achieve goals for improving diversity in workforces, vendor lists, boardrooms and investment managers. The next forum will be held in Boston in May 2020.

According to Sam Austin, co-chair of the Diverse Manager Committee and chair of NEPC’s Diversity and Inclusion Board, the forum will allow them to engage their clients to expand definitions of diversity and improve measurement benchmarks. He also said diversity is very important in improving the sustainability of their clients’ investment outcomes. An NEPC study found that diversity and inclusion will be one of the largest drivers of future success in the investment sector.

Leave a Reply