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August 6, 2015


By Alan Hughes of the National Association of Investment Companies

As America's population continues to become more diverse, the number of careers and economic opportunities in which members of these communities were historically shut out has gradually declined. In the corporate arena, management, the C-Suite and boardrooms are progressively looking less homogenous after painstaking work by trailblazers and others not afraid of the repercussions that come from demanding change. In the National Football League, the Rooney Rule led to increased hiring of African American coaches. However, the financial services industry remains one of the areas in which diversity has been slower to take hold.

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Upcoming NAIC Event

Register today for the 45th Annual Meeting & Convention

Please join the National Association of Investment Companies for our 45th Annual Meeting & Convention on October 5-6, 2015 at the Bank of America Tower in New York City. As we celebrate our 45th anniversary milestone, we have put together a very special thought leadership conference that will not only bring together investment managers, chief investment officers, limited partners, policymakers and other industry insiders, but also highlight the performance of women and diverse managers in the private equity industry.

Industry News

PRESS RELEASE: Booker, Gillibrand, Murray, Coons, Peters Introduce Bill to Scale-Up Investments for Small Advanced Manufacturing Businesses

Washington, DC, August 4, 2015 - U.S. Sens. Cory Booker (D-NJ),Kirsten Gillibrand (D-NY), Patty Murray (D-WA), Chris Coons (D-DE), and Gary Peters (D-MI) today introduced the Scale-Up Manufacturing Investment Company (SUMIC) Act of 2015, legislation that increases access to capital for entrepreneurs looking to scale-up and commercialize their advanced manufacturing innovations.

"Small businesses are the backbone of the U.S. economy and a tremendous engine for innovation and job growth," Sen. Booker said. "But small manufacturing firms often struggle to find the capital to finance expansion plans and develop and implement new technologies that can help their businesses grow and create jobs. While we are falling short, our competitors are investing in American home-grown advanced manufacturing firms, and in many cases moving their high-quality jobs and operations overseas. To remain competitive and keep innovative technologies and capabilities in the U.S., the federal government must partner with the private sector to increase access to capital for all entrepreneurs. This bill invests in the potential of entrepreneurs in the advanced manufacturing sector by providing them with the funding they need to scale-up and commercialize new technologies and create jobs for Americans."

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Upcoming Industry Event

CalPERS Emerging, Transition and Diverse Manager Day

CalPERS is hosting an Emerging, Transition and Diverse Manager Day on Wednesday, September 9, 2015 at the CalPERS Investment Office in Sacramento, California. This event offers managers both education and networking opportunities. Participating firms will meed with CalPERS' senior asset class staff for Private Equity, Global Equity, Real Estate, along with their respective investment advisors, to introduce their firm, propose an investment opportunity, and receive feedback.
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