Josh Lerner, Jacob H. Schiff Professor of Investment Banking, Harvard Business School "AAAIM Bella Research Study of AAPI Representation and Performance in the Asset Management Industry"

Our guest for today's podcast is Josh Lerner, the Jacob H. Schiff Professor of Investment Banking at Harvard Business School. This podcast is a replay of an AAAIM Virtual Webinar held in late 2020 and discusses the findings from an AAAIM commissioned study by Bella Private Markets, a consulting firm led by Professor Lerner. The AAAIM Study is the first in the market to quantify AAPIs' representation, AUM, and performance. The results uncover a disturbingly low representation of AAPI ownership compared to the community's population in the U.S. and other relevant benchmarks. In addition, the returns delivered by AAPI-sponsored investment vehicles meet or exceed industry benchmarks across asset classes. These findings echo earlier studies, which found that Diverse-owned funds collectively accounted for only 1.3% of total asset management AUM, despite performance in line with industry benchmarks. Brenda Chia, AAAIM Co-Chair and Founding Board Member, interviews Professor Lerner for this podcast. Without further ado, here is our replay with Professor Lerner and Brenda Chia.