Gender Lens Investing Q3 2022 examines third-quarter performance and composition of gender lens equity funds and provides updates on gender lens fixed income and women in the workplace and economy. The review also includes:
Q3 Gender Lens Scorecard Rankings and Technology Funds through a Gender Lens.
Key Findings
- Publicly traded gender lens equity funds (GLEFs) totaled US$4.4 billion in AUM as of September 30, 2022. AUM growth for the quarter was -5.6%. The AUM decline for the group was slightly behind the S&P 500 Index quarterly return (-5.0%), ahead of the global MSCI ACWI Index (-6.8), and slightly ahead of the developed markets MSCI World Index (-6.2).
- There are 18 global equity funds and 18 regional equity funds available to individual investors. These are domiciled in the U.S., Canada, the E.U., Republic of Korea, and Japan.
- The gender lens equity funds turned in mixed relative performance in a down market. In the global equity segment, roughly half of the funds outperformed or were in line with at least one of the MSCI broad global indexes. Several of the U.S. equity funds outperformed or were in line with the U.S. broad market.
- Gender lens fixed income AUM was US$7.9 billion as of September 30, 2022. Quarterly AUM grew 4% in a tough macroeconomic environment for new issues. We also watch sustainable bonds that employ a gender lens.
- There were new gender bond frameworks announced during the quarter (Bangladesh, Zambia) and new gender bonds issued or announced in Asia (incl. Republic of Georgia and Kyrgyz Republic).
- Diversity, equity, and inclusion (DEI) funds totaled US$221 million in AUM as of September 30, 2022. This growing group of funds focuses on investing in companies with robust DEI policies or social justice track records.
- The report provides an analysis of top-rated technology equity funds and ETFs through a gender lens.
- The Parallelle Finance Scorecard is a tool for evaluating funds with an in-depth gender lens.
- Scorecard rankings of the gender lens equity funds in our coverage universe and related commentary are included in the report.
Figure A: 12 Largest GLEFs by AUM (in US$ millions)
Figure B: GLEF Top Absolute Performers. Along with the broader market, the gender lens equity funds generally traded down for the 3-month period ending September 30, 2022. In the global equity segment, roughly half of the funds outperformed or were in line with at least one of the MSCI broad global indexes. Several of the U.S. equity funds outperformed or were in line with the U.S. broad market. A full discussion of performance and composition of the GLEF group is included in the report.
