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Lyxor launches ETF investing in gender equality champions

Lyxor launches ETF investing in gender equality champions

Lyxor Asset Management has launched an exchange-traded fund (ETF) focused on companies championing workplace gender equality.

Equileap, an organisation set up to accelerate progress towards gender equality in the workplace, and index provider Solactive developed the index the ETF will track.

Based on Equileap’s own global database, the Equileap Global Gender Equality Index covers over 3,000 companies in 23 developed market countries.

Each company has a market capitalisation of at least $2 billion (£1.5 billion) and an average daily traded turnover of at least $5 million.

This broad bracket is then narrowed down to 150 companies using Equileap’s Gender Scorecard, a 19 criteria methodology inspired by the UN Women's Empowerment Principles of gender balance, equal compensation, work-life balance, policies promoting gender equality, transparency and accountability.

The firm claims the strategy has outperformed the MSCI World Index by 10.7% over the last six years.

Clarisse Djabbari, deputy head of Lyxor ETFs & indexing, said: ‘This ETF marks an important step in our progress towards a complete range of environmental, social and governance based investment products.’

Diana van Maasdijk, chief executive at Equileap, added: ‘Building our database, and ranking over 3000 companies on 19 criteria, was a first step, towards transparency – you can’t change what you can’t see.

'Having investment vehicles tied to our indices is a second step, towards change – a tool not only helping responsible investors but also encouraging companies to make a difference.’

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