It's difficult to find gender and/or race diversity in asset management, according to a study commissioned by the John S. and James L. Knight Foundation. "As a whole, the evidence suggests that the performance of funds managed by diverse-owned firms is statistically no different than the performance of those managed by non-diverse firms. In fact, diverse funds often have top-quartile returns, with 25% of women-owned and 28% of minority-owned funds in the top quartile, on average," the study states. Read the original story from InvestmentNews.