As a firm, we believe that a diverse workforce leads to higher quality work, better decision-making and greater employee and client satisfaction. The value of diversity, equity and inclusion extends far beyond corporate output.
Racial and gender equity have important implications for the long-term health and effectiveness of our industry, the nation and the world. This is only likely to increase in importance over time as the percentage of people of color rises and more women are able to participate actively in the workforce due to changes in technology and employment norms, such as working from home. When we encourage and include women, racial/ethnic minorities and others traditionally underrepresented in financial services to come into asset management and rise through the ranks of leadership, not only do we help to change the lives of those people, we broaden the investment opportunity set for investors and, ultimately help to build a more equitable and balanced society at large.
In 2018, we created a Diversity, Equity and Inclusion Office to intentionally promote and foster inclusion and equity across the firm and our investment process, thought leadership, and professional and organizational development.
Video published in February 2021.
Commonfund continues to build out our diverse manager commitments. We use the same due diligence process for diverse managers as for all other managers with which we invest and selection criteria are also influenced by the expected needs of client portfolios for the coming year.
While Commonfund sources diverse managers from many avenues, one of our key sources has been through our annual Diverse Manager Day and our Diverse Manager Portal.
As of December 31, 2023. Diverse managers are defined by Commonfund as firms led by women, African American/ Black, Asian, Latino, Indigenous, people with disabilities, veterans and others not captured by this list. They must have at least 25 percent diverse leadership and additionally, have at least 25 percent diversity within the investment team.
Our commitment to diversity, equity and inclusion (DEI) in action.
Recruitment, Retention & Advancement
Intentional hiring of diverse talentDiverse Manager Outreach
Proprietary diverse manager database
Implementation
Incorporate diverse managers in all searchesPartnerships & Collaborations
Collaborate with trade associations, academics, and other strategic partners
Insight
Publications on DEI via Commonfund Institute2016
Diverse manager investment program established
Partnership with Girls Who Invest begins
Veterans Day acknowledgement*
2017
Volunteer Diversity Committee established
Implemented Commonfund’s version of the “Rooney Rule” for new managers and hires
Hosted a table at TOIGO Gala
Joined the Board of the TOIGO Foundation
2018
Formed Diverse Manager Committee
Incorporated DEI into 3rd-party investment manager due diligence process
Became signatory to Pension Real Estate Association Foundation Diversity Initiatives
Heritage Month Celebrations begin
Initiated partnership with ABC Wilton
2019
Proprietary Diverse Manager Database launched
Diverse Manager Portal Created
1st DEI Employee survey conducted
2020
Developed DEI Policy and Diversity Committee Charter
1st Implicit Bias and Bias Mitigation Training conducted
1st invitational Diverse Manager Day held
Became signatory to Confluence Philanthropy Racial Equity Pledge
Juneteenth recognized as company holiday
2021
Co-hosted speaker series with Ford Foundation
1st biennial DEI report produced
Developed a mentor program
2022
Participated in the WKKF/McKinsey Expanding Equity Program
Employee Resource Groups created
2023
Sponsored Gender Equity Consortium
Joined the CFA Institute Committee on DEI
Hosted 1st keynote HBCU panel at annual Forum
Hosted Pride Month training with CT Pride Center
Launched Diverse Manager Spotlight video series
2024
Became a signatory to CFA Institute Diversity, Equity and Inclusion Code
Hosted educational session with The Bard College Center on the Study of Hate
We recognize that in order to create sustainable momentum, we must continue to shape and express our point of view—diversity, equity, and inclusion should be advanced in our industry.