Expect Equity LLC

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Expect Equity Menu Investment Excellence is broadly distributed. Capital is not. Only 1.4% of the ~$70T US asset management industry is run by firms owned by women and people of color. 1 70% of non-minority allocators think there is a negative tradeoff between diversity and performance. 2 Yet, women and people of color, on average, generate investment performance that is statistically equivalent to that of over-represented men. 3 Firms owned by under-represented investors have, on average, fewer than half the assets under management compared to funds run by non-minority men resulting in fewer resources and lower pay. 4 1 Knight Foundation , 2021. (3). 2 Morgan Stanley , 2021. (8). 3 Knight Foundation , 2021. (19). 4 Knight Foundation , 2021. (12). What if all firms actually had access to the same resources? Expect Equity envisions a world in which under-represented managers are accorded the same benefit of the doubt as firms run by over-represented managers - they are being considered because of their potential to generate exceptional returns. Who is under-represented? Expect Equity considers under-representation to be exemplified by triumph over adversity for managers who have reached a level of tenure and seniority in the investment industry where that individual’s background is disproportionately unusual, or “under-represented.” Expect Equity exists to systematically increase that 1.4% and bring visibility, resources, and capital to under-represented public equity managers

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