UBS cross-lists gender equality ETF onto Borsa Italiana

Mar 9th, 2018 | By | Category: Equities

UBS has cross-listed its global gender equality ETF onto Borsa Italiana. The share class available on the Italian exchange is hedged to EUR and listed under the ticker code GENDEE IM. 

UBS cross-lists gender ETF onto the Borsa Italiana

UBS cross-lists gender ETF onto Borsa Italiana.

The UBS Global Gender Equality UCITS ETF launched in December 2017 and has since accumulated $44m assets under management.

It is registered for public distribution across most of Europe.

The unhedged share class is available on SIX Swiss Exchange under the ticker code GENDER SW

The fund tracks the Solactive Equileap Global Gender Equality 100 Leaders Index Hedged in EUR, created by index-provider Solactive and powered by gender equality foundation Equileap.

The index tracks the top companies leading the field internationally in terms of gender equality.

The top 100 companies are selected from a universe of over 3,000 firms across 23 developed market countries. The screening methodology begins with an Environmental Social and Governance (ESG) screen, before moving onto its constituent selection.

The index will always select a minimum of 30 US-listed stocks, choosing the firms with the highest Equileap score. Then the next highest-scoring US stocks will be added, but only if they score above a certain Equileap score, up to maximum 50 US stocks in total. Finally, the highest-scoring companies from the rest of the world will be added to total 100 stocks in the composition.

The TER of the fund is 0.20% and its underlying currency is the euro.

Other gender equality ETFs in Europe include the Lyxor Global Gender Equality (DR) UCITS ETF (ELLE LN), while the largest in the US is the SPDR SSGA Gender Diversity Index ETF (SHE US).

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