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Read. Follow. Verify.Hearing on Diversity in Asset Management
Record date · January 1, 2020
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What This Bill Does
The House Subcommittee on Diversity and Inclusion held a hearing on June 25, 2019, to examine the challenges and opportunities for diverse-owned asset management firms in the financial services industry. The session featured testimony from industry experts and investment officers regarding inclusion practices in the investment sector.
This hearing explores barriers to entry and growth for minority- and women-owned investment firms, which manage assets for public and private pension funds and foundations.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Diverse-owned asset management firms
These firms are the subject of the hearing regarding their inclusion and participation in the investment industry.
Pension funds and foundations
These entities manage large pools of capital and are the primary clients for asset management services.
Key Facts
- The hearing was held on June 25, 2019, in the Rayburn House Office Building.
- The subcommittee examined the inclusion of diverse asset managers in the financial services industry.
- Witnesses provided testimony on the challenges and opportunities for diverse-owned firms.
- The record includes various statements and reports, such as the 'Garcia Rule' for investment managers adopted by the Metropolitan Transit Authority of Harris County.
Show all 5 facts
- The hearing record includes the Chicago Teachers' Pension Fund 123rd Comprehensive Annual Financial Report from 2018.
Frequently Asked Questions
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News Coverage
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Votes, people, money & the original sourceFull breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Adoption of the Garcia Rule
The hearing record highlights the 'Garcia Rule' as a specific policy mechanism used by public pension funds to increase the inclusion of diverse asset managers.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance40How much this matters to a regular citizen
- Controversy20Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz10Current news / social attention level
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