By Jasmine Browley ·Updated August 2, 2024
Less than 2% of AUM (Assets Under Management) are handled by diverse-owned firms. According to a 2019 study, 2.68% of single-manager active equity funds were managed by Black managers. A 2023 AFAJOF report found that 9.65% of U.S. hedge fund managers are Black. What’s more, there are just 33 Black-owned investment management firms with more than $1 billion in assets under management responsible for an aggregate total of $272.2
