There are now just three weeks to go until FTAdviser's Diversity in Finance Awards 2021 close for entries at the end of April.
In recognition of the change being brought to financial services, The FTAdviser Diversity In Finance Awards 2021 are now open for submissions.
Entries can come from individuals or from companies who can demonstrate they have gone the extra mile in 2020 to improve diversity and inclusion and make their businesses better for clients, staff and the wider community.
To enter, and for more information on the categories visit: FTAdviser Diversity In Finance Awards 2021. The submission deadline is Friday April 30.
Diversity and inclusion are core elements of the Financial Conduct Authority's supervisory approach when it comes to assessing the culture and climate of regulated businesses in the UK.
Even without regulatory scrutiny, however, businesses integrating diversity and inclusion into their business have proven success when it comes to growth and sustainability, according to the latest white paper from consultancy Mercer.
The paper, The Power of Change: The what, why and how of creating a diverse private market portfolio, addresses why incorporating DEI into private market portfolios could result in performance that outperforms benchmarks.
It highlights recent research suggesting diverse teams make better decisions and are less likely to be influenced by unconscious biases.
For example, a 2019 study conducted by the National Association of Investment Companies found that, from 1994 to 2018, diverse funds outperformed the top quartile benchmark on a net internal rate of return basis.
They also outperformed the benchmark median quartile on a total value to paid-in-capital, and a distributions to paid-in-capital basis.
Raelan Lambert, global alternatives leader for Mercer, commented: “The pandemic and growing demand for social change, coupled with market volatility, have made investors realise that change is here.
"There are many benefits to embracing diversity and inclusion, as well as risk mitigation considerations. By creating a private markets diversity and inclusion investment programme, institutional investors can send a strong signal to asset managers that diversity is a priority.
"We are working with managers and asset owners to help them transform investment management through their portfolio investment choices.
“By increasing the diversity of their managers, investors can create an environment where new ideas can thrive. This environment enables fresh perspectives and different networks through which to access potential new deal flow.”