Lyxor has teamed up with Equileap, an organisation aiming to accelerate progress towards gender equality in the workplace, and index provider Solactive to launch Europe's first gender equality ETF.
Physically replicating, the Lyxor Global Gender Equality (DR) UCITS ETF will be available on Euronext Paris with a total expense ratio (TER) of 0.35%.
Equally-weighted and rebalanced quarterly, the ETF will track 150 companies taken from the 3000-strong Equileap Global Gender Equality index which are "leading the field for gender equality".
Companies will have a market cap of at least $2bn and an average daily value traded of more than $5m.
It will use Equileap's 19-criteria Gender Scorecard, which is based on the UN Women's Empowerment Principles.
Key factors for selection include gender balance, equal compensation, work life balance, policies promoting equality, transparency and accountability.
Clarisse Djabbari, deputy head of Lyxor ETFs & indexing, said: "This ETF marks an important step in our progress towards a complete range of environmental, social and governance based investment products."
Diana van Maasdijk, CEO of Equileap, said: "Building our database, and ranking over 3000 companies on 19 criteria, was a first step, towards transparency - you cannot change what you cannot see.
"Having investment vehicles tied to our indices is a second step, towards change - a tool not only helping responsible investors but also encouraging companies to make a difference."
This is the latest ESG product the firm has launched, after it unveiled its first "pure" environmental vehicle in March, the Lyxor Green Bond UCITS ETF.
Gender equality in finance is a hot topic at the moment, with the Treasury Committee launching a "Women in Finance" inquiry last month in order to identify the barriers to women entering and progressing in the financial services industry.
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