Investors can now screen their mutual funds and ETFs for gender equality.
GENDER EQUALITY investors got an early holiday present this week: a new free fund screening tool enabling them to evaluate the gender equality of their mutual funds and ETFs.
The tool, Gender Equality Funds created by As You Sow, a nonprofit promoting environmental and social corporate responsibility through shareholder advocacy, coalition building and innovative legal strategies, in collaboration with Equipleap, a gender equality data and insight provider in Amsterdam and London, enables investors to view and compare the gender equality score of the 5,000 most commonly-held U.S. mutual funds and ETFs in U.S. 401(k) plans. It's the fifth socially responsible screening tool As You Sow has created, joining screens for fossil-free funds, weapons-free funds, deforestation-free funds and tobacco-free funds.
The tools are designed to meet the needs of a growing cohort of socially responsible investors.
"We believe there is a wave building that will become a tsunami, particularly with women who want to invest their money to create a world they want to live in," says Andrew Behar, chief executive officer of As You Sow in Oakland, California.
Socially responsible investing grew by more than 38 percent between 2016 and 2018, according to The Forum for Sustainable and Responsible Investing (US-SIF). Today, more than one-quarter of professionally managed dollars are invested in accordance with SRI practices. A decade ago, that number was $1 in every $12.
money.usnews.com
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