PORTSMOUTH, N.H. December 1, 2017 – Pax World Management LLC, investment adviser to Pax World Funds and a leader in the field of sustainable investing, today announced the results of the November 2017 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 32 percent of board seats and 26 percent of senior management positions, as compared to 24 percent and 17 percent1, respectively, for companies in the MSCI World Index. 91 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 41 percent and 67 percent, respectively, for companies in the MSCI World Index. 35 percent of companies in the Index have a woman CEO or CFO, compared with 14 percent of companies in the MSCI World Index.
Among companies in the Index, the percent of senior management positions held by women has increased 6 percent and the percent of board seats held by women has increased 4 percent, since the Index was created in 2014.
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. 63 securities will be added to the Index and 48 will be deleted as a result of the annual reconstitution.
*A custom index based on MSCI World. One cannot invest directly in an index.
1 MSCI World Index, Pax Gender Analytics, 2017.
Mutual Funds 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.
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