Lyxor Asset Management has bolstered its sustainable investing offering with the launch of a gender equality ETF.
The Lyxor Global Gender Equality Ucits ETF has been developed with Equileap, an organisation set up to accelerate progress towards gender equality in the workplace.
Lyxor said the new fund is Europe’s first gender equality ETF and will focus on companies leading the field in gender equality.
It will track the Equileap Global Gender Equality Index, which covers more than 3,000 companies in 23 developed market countries. Each company has a market cap of at least $2 billion.
To refine the selection to just 150 companies, Lyxor’s ETF uses Equileap’s gender scorecard, a 19 criteria methodology inspired by the UN Women's Empowerment Principles.
Key criteria for selection are gender balance, equal compensation, work-life balance, policies promoting gender equality, transparency and accountability.
Commenting on the launch, Lyxor’s deputy head of ETFs and indexing, Clarisse Djabbari said: 'This ETF marks an important step in our progress towards a complete range of environmental, social and governance based investment products.
'We are the only provider in Europe to offer ETFs on four of the sustainable development goals; gender, water, new energy and climate change through our Green Bond ETF.'
The new ETF is a Luxembourg Sicav which uses physical replication and is available on Euronext Paris with a total expense ratio of 0.35%.