The financial industry is known for being a boys club, especially where asset management is concerned. Firms with at least 50% minority or women ownership represented just 0.9% of total assets under management (AUM) in funds in 2017, according to the Knight Foundation's latest "Diversifying Investments" report. If you lower the bar to include firms with 25% to 49% diverse ownership, the number hardly improves at 1.3% of total AUM.
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