Q3 2021 Review

Gender Lens Investing Q3 2021 Review explores the dynamics shaping publicly available gender lens investments. The report also provides analyses of gender lens equity funds, DEI equity funds, and gender lens fixed income funds and vehicles for the third quarter of 2021.

Featuring A Spotlight on Women in Asset Management.

Key Findings

• Publicly traded gender lens equity funds (GLEFs) totaled US$3.56 billion in AUM as of September 30, 2021. AUM grew 3% during the third quarter, for funds in our coverage universe as of June 30, 2021. Year to date AUM growth is 35%.
• There are 10 global equity funds and 16 regional equity funds available to individual investors. These are domiciled in the U.S., Canada, the E.U., South Korea, and Japan.
• Gender lens fixed income AUM was US$8.41 billion as of September 30, 2021. This reflects a 74% increase from December 31, 2020. Vehicles include U.S. and emerging markets funds, private financial institution bond issues, development finance institution (DFI)-backed bonds, U.S. notes and certificates, and a lending platform.
• Diversity, equity, and inclusion (DEI) funds totaled US$170 million in AUM as of September 30, 2021. This growing group of funds focus on investing in companies with robust DEI policies.
• The report provides an exploration of gender diversity at the 25 largest global asset management firms.
• We introduce our new fund scorecard. Our methodology includes scores in four categories: fund gender lens equality criteria and metrics, fund performance, firm gender equality commitment and metrics, and fund ESG criteria.

Figure A: 12 Largest GLEFs by AUM (in US$ millions)

Figure B: Top GLEF Performers. Along with the broader market, the group of 26 gender lens equity funds (GLEFs) showed dampened performance in the three-month period ended September 30, 2021. A full discussion of performance and composition of the GLEF group is included in the report.

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