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Asset Management Advisory Committee (AMAC)
Oct. 17, 2023
The committee was formed to provide the Commission with diverse perspectives on asset management and related advice and recommendations. Topics the committee may address include trends and developments affecting investors and market participants, the effects of globalization, and changes in the role of technology and service providers. The committee is comprised of a group of outside experts, including individuals representing the views of retail and institutional investors, small and large funds, intermediaries, and other market participants.
If you are interested in serving on the Asset Management Advisory Committee, please email AMAC-Candidates@SEC.gov a letter of interest with applicable information about your relevant experience.
Committee Members
NAME |
COMPANY |
| T. Rowe Price | |
| American Association of Individual Investors | |
| Saturna Capital | |
| R.M. Davis Inc. | |
| Fidelity Institutional | |
| Garcia Hamilton & Associates | |
| Ohio Public Employees Retirement System | |
| The University of Texas/Texas A&M Investment Management Co. | |
| Ernst & Young LLP | |
| State Street Corporation | |
| Goldman Sachs BDC, Inc. | |
| Morningstar Research Services | |
| Babson College and Natixis Funds, Loomis Sayles Funds, and Natixis ETFs | |
| S&P Dow Jones Indices | |
| GTS | |
| Apollo Global Management | |
| Smith School of Business, University of Maryland, and Wermers Consulting LLC | |
| FINRA (non-voting) |
Recommendations of the Asset Management Advisory Committee
- Final Recommendations for Evolution of Advice
- Final Report and Recommendations for Small Advisers and Funds
- Final Report and Recommendations for Private Investments
- Recommendations for ESG
- Report and Recommendations on Diversity and Inclusion in the Asset Management Industry
- Recommendations Regarding COVID-19 Volatility: Exchange-Traded Products
- Recommendations Regarding COVID-19 Operational Issues
Organization
Meetings
November 3, 2021
- Meeting Notice
- Sunshine Act Notice
- Press Release and Agenda
- Webcast Archive
- Transcript of Meeting
- Minutes
Background Materials
October 28, 2021
- Meeting Notice
- Sunshine Act Notice
- Press Release and Agenda
- Webcast Archive
- Transcript of Meeting
- Minutes
Background Materials
September 27, 2021
- Meeting Notice
- Sunshine Act Notice
- Agenda
- Webcast Archive - Part 1
- Webcast Archive - Part 2
- Transcript of Meeting
- Minutes
Background Materials
- Final Report and Recommendations of the Private Investments Subcommittee (draft)
- IAA Presentation by Karen Barr and Gail Bernstein
- Cramer Rosenthal McGlynn Presentation by Steven Yadegari
- Ultimus – Strengths of Series Trusts Presentation by Dave Carson
- Technology and Big Data: Effects on Asset Managers Economies of Scale Presentation by Russ Wermers
- Evolution of Advice Subcommittee Presentation
- Panelist Bios
July 7, 2021
- Meeting Notice
- Sunshine Act Notice
- Agenda
- Webcast Archive - Part 1
- Webcast Archive - Part 2
- Transcript of Meeting
- Minutes
Background Materials
March 19, 2021
Background Materials
December 1, 2020
Background Materials
- Panelist Bios
- Update from the ESG Subcommittee
- Potential Recommendations of the ESG Subcommittee
- Summary Draft: Preliminary Recommendations of ESG Subcommittee for the AMAC
- Update from the Private Investments Subcommittee
Additional Background Materials
November 5, 2020
Background Materials
September 16, 2020
Background Materials
- Panelist Bios
- Update from the ESG Subcommittee
- Update from the Private Investments Subcommittee
- Memorandum – Academic Literature on Potential Benefits for Portfolio Efficiency of Private Equity Investments
- Cambridge Associates – Private Investments
- Hamilton Lane - Presentation
- Prof. Lerner – Remarks to the SEC Asset Management Advisory Committee Private Investments Subcommittee
- Prof. Phalippou – Track Record Marketing in Private Equity
- Illinois State Treasurer – Presentation
- Exchange-Traded Products Panel – Preliminary Recommendation
- Operations Panel – COVID-19 Related Operational Issues
July 16, 2020
Background Materials
- Panelist Bios
- Orion – Technology’s Role in the Evolution of Investment Advice
- Schwab – Deconstruction of Advice: Perspective of an Entrepreneur
Additional Background Materials
- Study: Race Influences Professional Investors’ Financial Judgments (May 2019)
- GAO Report: Investment Management – Key Practices Could Provide More Options for Federal Entities and Opportunities for Minority- and Women-Owned Asset Managers (September 2017)
- Study: Diverse Asset Management Project Firm Assessment (Final Report May 2017)
- Study: 2018 Diverse Asset Management Firm Assessment (Final Report January 2019)
- Study: Diversity of Asset Managers in Philanthropy (February 2020)
- Study: Intolerance of Failure? Evidence from U.S. Private Equity (Final Report January 2019)
- Raben Group Diverse Asset Managers Initiative Information: Annual Investment Consultant Survey (2018)
- Raben Group Diverse Asset Managers Initiative Information: Annual Investment Consultant Survey (2019)
- Raben Group Diverse Asset Managers Initiative Information: Fiduciary Guide to Investing with Diverse Asset Managers and Firms (April 2017)
- Letter from NASP et al. to Treasury Secretary Mnuchin et al. (April 2020)
- Letter from NAIC to Chairwoman Maxine Waters, U.S. House Committee on Financial Services (June 2019)
- Draft Bill for Diverse Investment Advisers Act (March 2020)
- NASP Public Policy Priorities
- Letter from NASP to California Public Employees Retirement System (January 2020)
- Ronald C. Parker, NASP, Statement before the U.S. House Financial Services Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets (June 2020)
May 27, 2020
- Meeting Notice
- Sunshine Act Notice
- Agenda
- Webcast Archive Part 1
- Webcast Archive Part 2
- Transcript of Meeting
- Minutes
Background Materials
January 14, 2020
Background Materials
- CaseyQuirk -- Remarks and Discussion
- Empirical Research – Issues Facing U.S. Money Management Industry
- McKinsey & Company – Global Trends in Asset Management
- Key Global Regulatory Themes in Fund Management in the 2020s: A Personal Perspective
- Apollo Global Management – SEC Asset Management Advisory Committee Presentation
- Blackstone – Expanding Retail Access to Private Markets
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Modified: Oct. 30, 2023