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Spelman College Partners with Richard Bernstein Advisors to Promote Asset Management Industry Diversity Through New Scholarship Share a Spelman College Press Release


FOR IMMEDIATE RELEASE

Jazmyn Burton
Spelman College
(404) 798-5212
jburton8@spelman.edu
Twitter: @SpelmanMedia

RBA Logo News SpelmanATLANTA (September 28, 2020) – Spelman College has created a new scholarship to combat the issues of diversity in the asset management industry.

Through a partnership with Richard Bernstein Advisors, the macro-focused investment manager that is now among the largest exchange traded fund strategists in the country, the Richard Bernstein Advisors Scholarship at Spelman College will help promote diversity at RBA and in the overall asset management industry.

“Designed to foster the development of a more equitable and innovative workforce, the Richard Bernstein Advisors Scholarship at Spelman College will support students as they make the pivotal transition from high-performing undergraduates to industry changemakers and leaders,” said Mary Schmidt Campbell, Ph.D., president of Spelman. “We’re looking forward to watching our scholarship recipients become the change that will help the financial industry remain competitive in a continuously shifting job market.”

The scholarship recipient, chosen jointly by RBA and the College’s faculty, will receive tuition assistance during their junior and senior years, as well as a summer internship at RBA. The intern will rotate among each of RBA’s departments allowing them to get exposure to many aspects of the asset management industry.

According to the Bella Research Group and the John S. and James L. Knight Foundation, firms owned by women and minorities (defined as 25-49 percent or 50 percent or higher) represented just 8.6 percent of the industry’s total number of firms in 2017, but managed just 1.3 percent of assets in the $69 trillion asset management industry.

“Through this innovative combination of scholarship and internship, we hope to immediately play a leading and significant role enhancing diversity in the asset management industry,” said Richard Bernstein, Founder and CEO of RBA. “We don’t simply want to discuss diversity. We want RBA to be a catalyst for meaningful and lasting change by giving students the educational and professional experiences needed to launch successful careers.”

About Richard Bernstein Advisors
Richard Bernstein Advisors LLC is an independent registered investment manager. RBA manages ETF asset allocation SMA portfolios at Merrill Lynch, Morgan Stanley, Ameriprise, UBS, Envestnet, and other select RIA platforms. RBA acts as sub-advisor for the Eaton Vance Richard Bernstein Equity Strategy Fund and the Eaton Vance Richard Bernstein All-Asset Strategy Fund and offers income and theme-oriented unit trusts and ETFs through First Trust. RBA also manages assets on behalf of several large institutional investors. RBA's investment insights as well as further information about the firm and products can be found at www.RBAdvisors.com. Financial advisors and Institutional investors can also sign up to receive ongoing investment commentary and other alerts. 

About Spelman College
Founded in 1881, Spelman College is a leading liberal arts college widely recognized as the global leader in the education of women of African descent. Located in Atlanta, the College’s picturesque campus is home to 2,100 students. Spelman is the country's leading producer of Black women who complete Ph.Ds in science, technology, engineering and math (STEM). The College’s status is confirmed by U.S. News & World Report, which ranked Spelman No. 54 among all liberal arts colleges, No. 19 for undergraduate teaching, No. 4 for social mobility among liberal arts colleges, and No. 1 for the 14th year among historically Black colleges and universities. The Wall Street Journal ranked the College No. 3, nationally, in terms of student satisfaction. Recent initiatives include a designation by the Department of Defense as a Center of Excellence for Minority Women in STEM, a Gender and Sexuality Studies Institute, the first endowed queer studies chair at an HBCU, and a program to increase the number of Black women Ph.Ds in economics. New majors have been added, including documentary filmmaking and photography, and partnerships have been established with MIT’s Media Lab, the Broad Institute and the Army Research Lab for artificial intelligence and machine learning. Outstanding alumnae include Children’s Defense Fund founder Marian Wright Edelman, Starbucks Group President and COO Rosalind Brewer, political leader Stacey Abrams, former Acting Surgeon General and Spelman’s first alumna president Audrey Forbes Manley, actress and producer Latanya Richardson Jackson, global bioinformatics geneticist Janina Jeff and authors Pearl Cleage and Tayari Jones. For more information, visit www.spelman.edu

 

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