IDiF hosted the first in a series of virtual master classes for trustees of pension funds, mutual funds, foundations, and endowments. On July 20th, 11 trustees representing over $1 trillion in assets met to discuss the ways that trustees can advance diversity and inclusion in the investment industry. The session featured an interview with Nilza Serrano, trustee of the Los Angeles County Employees Retirement System, and was moderated by Mina Pacheco Nazemi. Here are some of the attendees’ suggestions for investment trustees: 1. Take ownership of the issue. Diversity and inclusion are policy issues that are in the trustees’ wheelhouse. 2. Get started, even if only in a small way. Just “trying and caring” will support progress. 3. Make sure to factor in the costs of a lack of diversity. Trustees are doing a better job for investors if they’re looking at all opportunities for investment returns. 4. Take a close look at the investment policy to make sure that it doesn’t create roadblocks to a more inclusive approach. 5. Stay focused. Make sure that diversity and inclusion is discussed at every meeting and is factored into every significant decision. Trustees who are interested in participating in the next IDiF Trustee Masterclass should contact jenny@idif.org.
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