Diversity and Inclusion

We have an unwavering commitment to diversity. We are focused on helping our people feel a sense of belonging and strive to create an organisation that embraces all diversity. Every person at RSF has the responsibility to foster an inclusive environment. Our teams know that greater inclusion and diversity is a differentiator.

It makes us stronger and more innovative, which in turn helps us better serve our investors, our portfolio companies, and the communities in which we work.
RSF has an Inclusion and Diversity Committee that consists of Senior Partners that are accountable for championing our journey to inclusion. We have recently hired a dedicated senior leader to spearhead our I&D efforts internally and support our portfolio companies as they too strive to be even more inclusive. RSF is committed to creating an environment where everyone feels safe, seen, valued, and connected regardless of the diversity they bring to our teams.
We aim to recruit, develop, promote and treat our people equitably. We are working tirelessly to level the playing field for those that work with us and those we serve. RSF is an active supporter of not-for-profit organisations who share our value of inclusion

We, the undersigned institutional investors, acknowledge the existence of systemic racism and its impacts on Black and Indigenous communities and People of Colour and furthermore acknowledge the existence of inequities and discrimination with respect to factors including, but not limited to gender, sexual orientation, age, disability, religion, culture and socio-economic status.





We all have a responsibility to ensure that the persistent inequities in business and our society are eliminated. As institutional investors, we can contribute to addressing these inequities by taking intentional steps to promote diversity and inclusion across our portfolios and within our organizations.









Promoting diversity and inclusion is not only the right thing to do; it is good for business and our society. A growing body of research shows that higher levels of diversity and inclusion are associated with improved corporate financial performance, driving growth, and strengthening employee engagement. Incorporating diversity and inclusion into business decisions can create opportunities for underrepresented groups while simultaneously contributing to leadership development, improved reputation, and a stronger governance and risk profile.




As such, the undersigned investors encourage public companies to lead in global efforts to address systemic inequities by advancing diversity and inclusion efforts and enhancing transparency and accountability. We furthermore challenge our own institutions to advance diversity and inclusion of underrepresented individuals within our organizations.





Our expectations of companies are that they endeavour to:
  • Enhance annual public disclosures of diversity data, with specific application to the representation of self-identified Black, Indigenous and People of Colour on boards, executive teams and across the wider organization;
  • Adopt policies, targets and timelines to improve diversity on boards and in senior management, specifically regarding the representation of underrepresented groups, with the ultimate aim of being aligned with the racial and ethnic demography o;
  • Expand and disclose organizational efforts to address barriers to diversity and inclusion by adopting recruitment practices that consider a more diverse pool of candidates, and by actively seeking out underrepresented voices to inform diversity and inclusion activities and address challenges.

We will report on our efforts to promote diversity and inclusion, and we commit to reviewing and updating our approach as we learn from our experience.
We invite other investors to join us and share experiences and best practices to enhance our purposeful and collective efforts to bring about a more inclusive and anti-racist business and investment landscape.

We, the undersigned institutional investors, acknowledge the existence of systemic racism and its impacts on Black and Indigenous communities and People of Colour globally. We furthermore acknowledge the existence of inequities and discrimination with respect to factors including, but not limited to gender, sexual orientation, age, disability, religion, culture and socio-economic status. We all have a responsibility to ensure that the persistent inequities in business and our society are eliminated.
As institutional investors, we can contribute to addressing these inequities by taking intentional steps to promote diversity and inclusion across our portfolios and within our organizations.

Promoting diversity and inclusion is not only the right thing to do; it is good for business and our society. A growing body of research shows that higher levels of diversity and inclusion are associated with improved corporate financial performance, driving growth, and strengthening employee engagement.
Incorporating diversity and inclusion into business decisions can create opportunities for underrepresented groups while simultaneously contributing to leadership development, improved reputation, and a stronger governance and risk profile.

As such, the undersigned investors encourage public companies to lead in global efforts to address systemic inequities by advancing diversity and inclusion efforts and enhancing transparency and accountability.





As investors, we will endeavour to:

  • Engage with investee companies to convey our expectations of improved disclosure and performance on diversity and inclusion practices, including the advancement of underrepresented groups on boards, executive teams, and across the wider organization;
  • Integrate diversity and inclusion into our investment processes, beginning with tracking and monitoring the diversity and inclusion performance of public companies, reviewing and updating our proxy voting guidelines and stewardship priorities as needed, and engaging with external managers regarding their strategies to promote diversity and inclusion;
  • Improve diversity and inclusion practices within our own organizations. We will collect and monitor diversity and inclusion data so that “what gets measured gets managed” to more effectively address barriers to inclusion and advancement of underrepresented groups. We will provide training and education so that we can foster respectful and inclusive organizational cultures, and we will seek out underrepresented voices to inform our diversity and inclusion activities and address challenges







We will report on our efforts to promote diversity and inclusion, and we commit to reviewing and updating our approach as we learn from our experience.

We invite other investors to join us and share experiences and best practices to enhance our purposeful and collective efforts to bring about a more inclusive and anti-racist business and investment landscape .

RSF’s development as a successful business has been driven by diversity of opinion and independent thinking. It is central to our investment approach and to our talent management and recruitment programmes. Our aim is to employ the best people from the widest pool of applicants and support their career aspirations. We view diversity in its broadest sense – including gender, social background, race, sexuality, age, disability, learning style or religion – as key to the Company achieving its long-term goals.

RSF is committed to promoting mutual understanding and respect amongst its employees and the broader industry by valuing and supporting individuality. We facilitate schemes such as Investment 20/20 and offer traineeships and apprenticeships to college leavers and graduates. From an industry perspective, we are signatories of the Women in Finance Charter and a founding member of the Diversity Project.

RSF has a distinct culture and fosters an inclusive environment which allows employees the freedom to think differently. This means that individual employees not only can have a demonstrable impact on what the business does, but also how it’s done. By focusing on identifying, developing, retaining and rewarding talent, and ensuring equality of opportunity, we will continue to deliver the right outcomes for our clients and build a sustainable and growing business in the long term.

Our overarching philosophy for achieving an inclusive environment for diverse talent is made up of three key components:

  • a broader approach to D&I – we are committed to looking at all areas, including disability, ethnicity, gender, neurodiversity, sexual orientation and socio-economics;
  • a commitment to change mindsets through education and the evolution of corporate culture; and
  • ensuring that everyone is accountable



Keep it brief

  • Issues relating to inclusion and diversity (I&D) may be material and could affect long-term performance – and now there is data to support this.
  • Commitment to I&D can help drive innovation, overcome business challenges and attract and retain top talent.
  • I&D is playing an increasingly important role in life at BlackRock and in our investment solutions.

Why invest in companies that focus on
inclusion and diversity?

We believe companies that fail to take inclusion and diversity (I&D) issues seriously cannot fully understand the forces shaping their business, the economy and the world. Today’s most difficult challenges come from a diverse, inter-connected world; a diverse and well-networked group of professionals have the best chance of responding to such challenges. Inclusion and diversity is therefore not just a values-based focus, but instead a meaningful investment consideration.

Diversity promotes problem solving

Whether it be cognitive or experiential, diversity can improve creativity and increase a team’s capacity and ability for problem solving.

In a collaborative environment, a person’s value does not depend on her absolute wisdom but on her ability to improve the collective decision.

People with different gender, race and experiences can jointly contribute to more robust and innovative ideas from which companies are likely to benefit.

Inclusion and diversity can affect your bottom line

We first must address that data quality and availability has been an obstacle in determining the materiality of I&D issues on company performance. However, at BlackRock, we believe there is a fundamental reason to consider I&D as a long-term investor today.

As societal preferences evolve - whether as an employee, consumer, or investor – issues such as I&D may become increasingly important to a company’s bottom line. There are select studies today that point to the potential positive correlation of select I&D factors and corporate performance indicators.

Inclusive environments attract and retain talent

Looking beyond gender diversity, research has found that LGBT-supportive policies can all be linked with higher stock returns, higher firm value, higher productivity and profitability. While further research is needed to understand the underlying mechanism, one theory is that sexual-orientation equality increases a company’s competitive advantages in the labour markets.

Further, policies such as flexible hours and day care services, make sure that all talented employees – whether new parents or those taking care of elderly family members – can thrive in the companies and thus may help retain talent and reduce employee turnover.

More traditional human capital metrics – internal promotion, employee satisfaction, and management training, coupled with systemic change around employees to help them form new habits and practices – can further help companies grow and retain talents.

Inclusion and diversity at RSF

At RSF, we believe “inclusion and diversity” is a skill which managers and leaders can improve, and, if they do, they would have a better chance of improving the engagement and output of the people working for and around them.

We invest heavily to build a culture where all talents are offered equal opportunities to thrive and all voices – not just the loudest or the most familiar – can contribute the ideas that help our clients achieve their goals. In order to serve our diverse set of clients, we need to have a diverse and inclusive form.

We pay so much attention to I&D, because we truly understand and recognize that a diverse and inclusive workforce can effectively translate into innovation and better decision-making. And companies that fail to treat inclusion and diversity seriously will lose out the opportunity to fully understand the dynamic business environment where they operate.

Investing in inclusion and diversity

Sustainable investing is about more than just the environment. We have also been focused on I&D as an investment offering on our sustainable investing platform. We are seeing increasing interest from our clients, and are working on solutions to help investors gain exposure to companies that are leaders in promoting inclusion and diversity principles within their operations.