Asset managers have gone to great lengths in to bolster ethnic diversity across their organisations in the wake of George Floyd's murder in the US more than two years ago. However, new research covering the UK financial services sector shows asset managers have got worse over the past year when it comes to improving ethnic minorities’ experiences in the workplace. According to the Race to Equality Index, asset management was the only financial services subsector to fare worse this year — scoring 64 for diversity, equity and inclusion out of a target score of 100. This was down from 66 in 2021. Hedge funds notched up the biggest improvement overall, climbing from a score of 65 in 2021 to 68. Firms sitting across the insurance, private markets, wealth management and pensions sectors all marginally improved their scores from last year.