PORTSMOUTH, N.H., December 3, 2018 – Impax Asset Management LLC, investment adviser to Pax World Funds and a leader in the field of sustainable investing, today announced the results of the November 2018 annual reconstitution of the Pax Global Women’s Leadership Index* (the Index).
The Pax Global Women’s Leadership Index is the first index consisting of the highest-rated companies in the world for advancing women’s leadership. Impax Gender Analytics rates companies on five factors: representation by women on the board of directors, representation of women in executive management, presence of woman CFOs and CEOs, and whether they are signatories to the Women’s Empowerment Principles, a joint initiative of the UN Global Compact and UN Women. Companies in the Index also meet threshold environmental, social and governance (ESG) standards, as rated by MSCI ESG Research.
The Index compares favorably to the MSCI World Index† on several key gender leadership indicators. For example, among Index companies, women hold 36 percent of board seats and 28 percent of senior management positions, as compared to 23 percent and 17 percent,1 respectively, for companies in the MSCI World Index. 94 percent of companies in the Index have three or more women on the board and 99 percent have two or more women on the board, compared with 46 percent and 70 percent, respectively, for companies in the MSCI World Index. 32 percent of companies in the Index have a woman CEO or CFO, compared with 14 percent of companies in the MSCI World Index.
A comprehensive list of the changes to the Index, including additions and deletions, has been posted to the Pax World website: Paxworld.com/GWLI-Rebalancing. 61 securities will be added to the Index and 44 will be deleted as a result of the annual reconstitution.
About Impax Asset Management LLC
Impax Asset Management LLC, formerly Pax World Management LLC, is a pioneer in the field of sustainable investing. Impax offers a diverse lineup of strategies focused on the risks and opportunities arising from the transition to a more sustainable global economy. Each strategy integrates environmental, social and governance (ESG) research into the investment process to better manage risk and deliver competitive long-term investment performance. Since 1971, Impax has made it possible for investors to pursue financial returns while having a positive social and environmental impact.
*A custom index based on MSCI World. One cannot invest directly in an index.
1 MSCI World Index, Impax Gender Analytics, 2018.
Impax Asset Management LLC, formerly Pax World Management LLC, is investment adviser to Pax World Funds.
Pax World Funds are distributed by ALPS Distributors, Inc. ALPS Distributors is not affiliated with Impax Asset Management LLC. Neither Pax World Management LLC nor ALPS Distributors, Inc., is affiliated with MSCI.
†The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. The MSCI World Index consists of the following 23 developed market country indexes: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. One cannot invest directly in an index.
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