We reported recently that some Senators want to see more diversity among fund asset managers overseeing investments in the Thrift Savings Plan (TSP). The topic quickly generated a lot of comments from our readers with their opinions on the subject.
The discussion stems from a letter sent by a group of Senators who said that Blackrock, the current asset management firm used by the TSP, lacks enough racial and gender diversity among the individuals who are managing the TSP funds. The Senators say that federal employees would be better served by asset managers with a more diverse gender and racial makeup than what exists among TSP asset managers.
The proposal from the Senators follows on the heels of other attempts from lawmakers to use the TSP for advancing various political causes, such as adding ESG funds to the TSP or combatting climate change with the TSP.
What is your opinion on the issue? Would you prefer to see more diverse asset managers overseeing the investments in the TSP? Would more diversity among fund managers make you more inclined to invest in a fund?
The survey is now closed. You can read about the survey results here: FedSmith Readers Overwhelmingly Opposed to Diversity Quotas for TSP Fund Managers