ALA Endowment Trustees add minority-owned GQG Partners as newest fund manager
For Immediate Release
Keith D. Brown
Senior Financial Analyst
Finance Department, ALA
CHICAGO - The American Library Association (ALA) Endowment Trustees announce the acquisition of minority-owned GQG Partners LLC as the newest fund manager in ALA's $62 million portfolio. Founded in 2016 by Rajiv Jain, Chairman & Chief Investment Officer, GQG Partners LLC joins the ALA portfolio via its International Opportunities Fund, a considerable cap growth mutual fund that offers international portfolio diversification.
"The addition of GQG Partners is an example of ALA Endowment Trustees' commitment to diversity, equity, and inclusion by seeking out and opening doors to minority-owned businesses," said Patricia A. Wand, senior trustee. "We are pleased to take full advantage of Mr. Jain's recognition within the investment community and his more than 25 years of experience managing international equities and executing international equity strategies."
Based in Fort Lauderdale, Florida, GQG Partners LLC manages $30 billion in regulatory assets for 800 institutional clients in 28 countries.
As the newest fund manager, the firm helps diversify and manage $1.2 million of the ALA portfolio held by Merrill Lynch. “With full support of our financial advisors, we continue to search for fund managers representing minority populations while we hold ALA's financial future and security squarely in our focus,” Wand commented further.
The Endowment Trustees manage the ALA Endowment Fund on behalf of the Executive Board, guided by the established policies, procedures, and guidelines of the ALA investment policy statement. Additionally, they have the authority to hold, invest, reinvest, recommend disbursements, and otherwise deal with endowment funds under the direction of the Executive Board of the association.
About the American Library Association
The American Library Association (ALA) is the foremost national organization providing resources to inspire library and information professionals to transform their communities through essential programs and services. For more than 140 years, the ALA has been the trusted voice for academic, public, school, government, and special libraries, advocating for the profession and the library's role in enhancing learning and ensuring access to information for all. For more information, visit ala.org.