In 2014, SVCF challenged itself to explore how it could engage more people of color and women managers across its investment portfolio. As part of this exploration, we co-authored the case study, "The Hardest Taboo to Break." We also made a commitment to share our progress and experiences, and are pleased to do so in the Investment Manager Diversity Report.
SVCF holds diversity and inclusion as important core values. We reject the idea that identifying a diverse pool of high-performing minority and women investment managers is somehow contradictory to the goal of maximizing returns. Our conviction is supported by ample research confirming that smaller, skilled investment managers with a differentiated view outperform their peers.
We partner with our investment consultant to identify prospective minority-and women-owned firms to ensure that our managers represent a diverse set of strategies, views and backgrounds, and to ensure that we are not excluding qualified diverse managers due to hidden biases. As a result of these efforts, diverse managers managed $139 million of SVCF's assets in 2014, up 167 percent from 2013. We invite you to review our Investment Manager Diversity Report for details.
Increasing the diversity of investment managers is important work, and it is ongoing. As leaders in this space, we aim to be transparent in sharing our journey and progress. Our goal in sharing the data is to encourage other foundations and endowed institutions to take action towards more inclusive investment practices. We invite you to learn more about emerging best practices and encourage all foundations to join us by supporting The Association of Black Foundation Executives' Investment Manager Diversity Pledge.
1. Assess the level of diversity in your portfolio.
2. Discuss the importance of diversity and inclusion with trustees and investment advisors.
3. Commit to inclusive practices by signing the Diversity Pledge.
When we launched as a new community foundation on Jan. 1, 2007, we placed diversity among our guiding principles. We seek to live out these principles by ensuring that the staff we hire, the projects we implement and the grantmaking work we do reflect the many cultures of our region. Learn more about our commitment to diversity here.