Regulators should find ways to make the asset-management industry more inclusive of minority- and women-owned firms, a diverse group of investors told the Securities and Exchange Commission on 16 July.

Asset managers have lagged behind other industries in hiring a more diverse workforce and providing opportunities for minority-owned firms to manage client money, panellists told the SEC at a public meeting of an industry advisory committee. Firms owned by minorities and women manage just 1.1% of the $71tn in assets under management, according to research by the Knight Foundation published in 2017.