NYSIF, New York state\u2019s largest workers\u2019 compensation carrier, says it has far exceeded its established annual MWBE participation goal of 35 percent for fiscal year 2020-2021, and will continue to recruit MWBE financial firms to further increase their participation in 2022 and beyond.<\/p>\n
That pronouncement was made March 1 at NYSIF\u2019s 12th annual Minority- and Women-Owned Business Enterprises (MWBE) Investment Symposium in New York City.<\/p>\n
\u201cNYSIF continues to be a leader in meeting and surpassing the goals of the state\u2019s MWBE initiative\u201d said Kenneth Theobalds, NYSIF board of commissioners chairman. \u201cBut we must reaffirm our commitment and strive to do even better so that our values of encouraging diversity and inclusion continue to reflect in the pursuit of our core mission, delivering superior financial returns and value to NYSIF\u2019s customers.\u201d<\/p>\n
For state fiscal year 2020-21, NYSIF allocated nearly 44 percent of dollars paid to asset management firms and financial institutions to MWBE-certified firms. In all, 54 percent ($1.9 billion) of the $3.6 billion in NYSIF\u2019s externally managed assets were under the management of MWBE firms, including 100 percent of NYSIF\u2019s equities portfolio.<\/p>\n
\u201cNYSIF\u2019s commitment to identifying opportunities for diverse MWBE firms is foundational to our strong support for New York businesses,\u201d said Gaurav Vasisht, NYSIF executive director and CEO. \u201cAs the state reemerges from the COVID-19 pandemic, NYSIF will redouble its efforts to utilize a variety of outreach programs in order to cultivate relationships with MWBE firms, boosting innovation and benefiting New York Sstate employers.\u201d<\/p>\n
Now in its 12th year, NYSIF\u2019s MWBE Investment Symposium is a forum to further spark statewide job growth and expand investment opportunities to a diverse group of financial firms. This year\u2019s event was held in a hybrid format to accommodate both virtual and in-person attendees. It featured programs and panel discussions that addressed a wide range of topics, from informative conversations on increasing diversity in capital markets and the pros and cons of being a woman-owned firm, to transforming environmental, social and governance impact in the financial sector.<\/p>\n
<\/span><\/span>The MWBE Investment Symposium is one of several events that NYSIF participates in to attract MWBE vendors in all categories and helps to advance the organization\u2019s commitment to hire MWBE asset managers to invest a portion of NYSIF funds.<\/p>\n NYSIF\u2019s efforts in financial services participation are governed by Workers\u2019 Compensation Law, which establishes NYSIF\u2019s MWBE Asset Management and Financial Institution Strategy.<\/p>\n For more information, visit nysif.com.<\/p>\n","protected":false},"excerpt":{"rendered":" NYSIF, New York state\u2019s largest workers\u2019 compensation carrier, says it has far exceeded its established annual MWBE participation goal of 35 percent for fiscal year 2020-2021, and will continue to recruit MWBE financial firms to further increase their participation in 2022 and beyond. That pronouncement was made March 1 at NYSIF\u2019s 12th annual Minority- and […]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-37269","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"\r\n