Strategy Characteristics:
| Inception | Sept 1, 2019 |
| Benchmark | MSCI World Small |
| Position Size | 5% Maximum |
| Holdings | 45 to 65 |
| Active Share | >90% |
| Sector | +/-5% |
| Region | +/-5% |
| Top 10 Holdings | 20%-30% |
| Market Cap | SMID (Mid & Small Cap) |
| Tracking Error | 3%–5% |
| Beta | ~1.0 |
| Style | Core |
Portfolio Management
Ivka Kalus - Founder, CIO, Portfolio Manager
Seizing the alpha opportunity in gender-diverse investing.
Studies1 have shown that companies with gender-diverse leadership have above market-average: profitability, value creation, innovation, risk management, employee retention/productivity and ESG scores. This leads to investment opportunities that offer financial returns and social impact to close the gender gap. 1McKinsey, Credit Suisse, BCG, BOA, MSCI Studies 2016-2018 |  |
Gender Diverse Boards Outperform
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Investment Strategy
The strategy utilizes a sector and region-neutral risk-controlled framework that seeks to provide long-term capital appreciation and excess returns relative to the MSCI World Small Cap Index. The portfolio invests in companies that exhibit attractive risk/return profiles and favorable ESG characteristics. The strategy combines a quantitative and fundamental investment approach that invests in companies that benefit from gender diverse leadership and advance the participation of women in the boardroom and in executive roles. To fully reflect the benefit of gender diversity, our goal is to achieve significantly better portfolio diversity characteristics than the benchmark.
| Minimum Inclusion Criteria | ||
|---|---|---|
| At least two women on the board | At least 20% of portfolio companies will have woman CEO, CFO, COO or CTO | Portfolio has at least 30% more women on boards, in management and in C-suite than benchmark |
| Impact Results | Portfolio | Benchmark | % Better |
|---|---|---|---|
| Women on Boards | 36% | 20% | 75% |
| Women Executives | 29% | 18% | 64% |
| Women in C Suite | 58% | 9% | 547% |
| ESG Disclosure | 34 | 27 | 26% |
| ISS Quality | 4 | 5 | 32% |
| CDP | 4 | 2 | 83% |
| S&P Global Env Rank | 49 | 33 | 48% |
| Sustainalytics | 20 | 50 | 59% |
| Scope 1 GHG/Sales | 122 | 463 | 74% |
| Scope 2 GHG/Sales | 20 | 76 | 74% |
| % Unionized | 37% | 21% | 77% |
All data as of September 30, 2021 unless otherwise noted.
Respect, Diversity, Intellectual Curiosity & Rigor, Objectivity and Humility