#mwbes

[f1nsno]

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#NYC deputy mayor speaks to #MWBEs at Procurement Forum #itstartswithourvoices (at Medgar Evers College School of Science, Health and Technology) https://www.instagram.com/p/BtBsVFuFDIU/?utm_source=ig_tumblr_share&igshid=j2vt5q4dvcdt

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Supporting our Emerging Managers:

Many studies have shown that you can create greater investment portfolio diversity and improve returns by hiring smaller asset managers, including women and minority owned business enterprises (MWBEs). But oftentimes these Emerging Managers aren't given a chance—they're not awarded contracts because of their smaller size or shorter track record.

That's why it's a big deal that the New York City Employees Retirement System (NYCERS) has just agreed to an important policy proposal of mine that will strengthen our City’s mandate to seek out qualified investment firms run by women, people of color and other under-represented groups.

New York City already maintains one of the nation's leading Emerging Manager programs, investing 9% of NYCERS' assets with such firms. However, my proposal codifies our commitment to this program. It institutionalizes access to small or disadvantaged businesses and MWBEs, and it's an important step to making our commitment to these firms even stronger.