Bill would force colleges to share data on asset management diversity

Image:  Colleges and universities could be required to report how much of their endowment is managed by women- or minority-owned firms under a new bill from U.S. representative Emanuel Cleaver II. The Missouri Democrat’s Endowment Transparency Act of 2022 is aimed at boosting diversity and inclusion in the asset management industry by mandating transparency and standardizing data collection. College and university endowment assets collectively total more than $821 billion, but...