Black beauties

Reading between the lines, asset consultants are really the main target of the latest annual survey by investment manager 27four. The purpose of the survey seems less a special plea for more assets to be placed with younger black-owned and controlled firms, solely by virtue of their blackness, than to display them for the radar of asset consultants.

This is because asset consultants, often the impenetrable gatekeepers for retirement funds, assert a powerful influence over trustees’ decisions to choose asset managers. Consultants tend to favour the larger, established managers without the smaller and newer getting a look-in. Many of the latter are black, the survey indicates, and deserve consideration in the allocation of assets where they can justify it on business criteria.

Read the full article in Today’s Trustee.