First gender Equality ETF in Canada launched on Equileap Index

US and Canadian companies selected according to ground-breaking research…..

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Diana van Maasdijk, CEO Equileap

Evolve Funds lists HERS on TSX, in Toronto

Equileap announces the launch of the first ETF based on one of its gender equality indices. The Evolve North American Gender Diversity Index ETF (HERS,) was listed today on the Toronto Stock Exchange, using as an underlying the Equileap North American Gender Equality Index .

The Equileap North American Gender Equality Index (the Index) is part of a Family of Indices calculated by the index provider Solactive to track companies leading the field in terms of gender equality – including Global, US only and European indices.

The Evolve North American Gender Diversity Index ETF has a double social impact:

It highlights  companies doing better on gender equality in the workforce, encouraging others to follow them;

The Equileap Foundation benefits from any net profits Equileap makes from licensing the Index and from an additional donation of 10%  of their management fee from Evolve.

The Foundation makes grants and loans to support projects in developing economies that tackle the root causes of inequality, and help women and girls obtain financial independence and equal treatment.

Diana van Maasdijk, CEO Equileap, explained: “We have seen rising interest from investors, male and female, for thoroughly researched gender-lens financial products over the past couple of years. To answer this need, our team of Researchers has done a tremendous job assessing and ranking over 3,000 companies on gender equality, using a one-of-a-kind scorecard that looks at 35 points. We believe this ETF is the first in a series of financial products, as investors are becoming increasingly interested in gender equality.“

Raj Lala, CEO Evolve Funds, commented:Lala Raj EvolveFunds“Many large companies are making gender diversity a priority for their businesses as substantial evidence suggests that greater gender diversity results in better corporate performance – simply put the investment thesis is strong. Gender Diversity is becoming a prominent topic with Canadians – and this ETF provides an opportunity to support it through investment.”

Equileap, an organisation set up to accelerate progress towards gender equality at work, investigated manually 3,048 publicly-listed companies in 23 countries across all sectors, with a market capitalisation of more than USD 2 billion. It ranked them on gender balance and equality based on multiple criteria covering leadership, career development, work-life balance, equal pay, family leave, as well as health & safety.

Source: ETFWorld