Paris-based impact investing specialist Mirova launching a new thematic equity fund which will focus on companies that are committed to promoting gender equality and increasing women’s representation in top-level management.
Mirova is an affiliate of Natixis Investment Managers and follows a similar launch by Nordea last month.
The Mirova Women Leaders Equity Fund will invest in a global universe comprised of high-performance companies that are committed to increasing gender diversity, the group said.
The security selection is based on qualitative and quantitative indicators to assess the strength of each company’s approach, which Mirova has developed.
The strategy also adheres to Mirova’s sustainability requirements. The fund will adopt a sustainable investment approach and will seek to obtain an SRI label – a French government certifications tools for financial-product that integrate ESG criteria – and its portfolio will have a “2°C trajectory,” in line with the goals set out in the Paris Climate Agreement.
‘A social and economic priority’
“We believe that investors – both institutional and individual – are looking for clear investment solutions with a proven impact which are based on a strong economic rationale. Strategies addressing diversity and gender equality fit into this category perfectly. These issues are a social and an economic priority,” said Philippe Zaouati, CEO of Mirova.
A portion of the management fees from the Mirova Women Leaders Equity Fund will go to the UN Women National Committee in France to finance projects promoting women’s empowerment.
“This partnership with Mirova is an effective tool for achieving our common goal: improving the status of women worldwide,” says Pascale Bracq, vice president of the ONU Femmes Comité National France. “The financial sector has a crucial role to play in supporting women’s empowerment and creating equal opportunities.”
Mirova’s first social impact investment fund, Insertion Emplois Dynamique, which was designed to encourage job creation in France.
The strategy will be managed by Soliane Varlet, who has 18 years of experience in asset management of which she has spent 13 years with the group.