PORTSMOUTH, N.H.///December 1, 2016/// Pax World Management LLC, investment adviser to Pax World Funds and a pioneer in the field of sustainable investing, today announced the results of the November 2016 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. Pax World 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 31 percent of board seats and 25 percent of senior management positions, as compared to 15 percent1 and 16 percent2, respectively, for companies globally. Among companies in the Index, the percent of senior management positions held by women has increased 4 percent and the percent of board seats held by women has increased 2 percent, since the Index was created in 2014.
“We commend the 414 companies included in this year’s Index. They are, in our view, the best companies in the world when it comes to embracing gender diversity and advancing women in the workplace,” said Julie Gorte, Pax World SVP for Sustainable Investing and Portfolio Manager, Pax Ellevate Global Women’s Index Fund. “While these companies are forward-thinking when it comes to gender diversity, too many companies remain stuck in the past. In the two years since we built the Index we’ve seen progress, but it is incremental, and it is far too slow. It’s time to accelerate the promotion of women leaders into the highest company ranks.”
A comprehensive list of the changes to the Index, including additions and deletions, has been posted to the Pax Ellevate website: paxellevate.com/index/index-rebalancing. 58 securities will be added to the Index and 45 will be deleted as a result of the annual reconstitution.
Pax World Management LLC, investment adviser to Pax World Funds, is a pioneer in the field of sustainable investing. Pax World integrates environmental, social and governance (ESG) research into its investment process to better manage risk and deliver competitive long-term investment performance. For over 45 years, Pax World has made it possible for investors to align their investments with their values and have a positive social and environmental impact. Today, its platform of sustainable investing solutions includes a family of mutual funds, as well as separately managed accounts.
1 “Women on Boards,” MSCI ESG Research Inc, November 2015.
2 MSCI World Index, Pax Gender Analytics, 2016.
*A custom index based on MSCI World. One cannot invest directly in an index.
Distributed by ALPS Distributors, Inc.
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.