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The UCITS ETFs listed on this website are funds under both Amundi ETF and Lyxor ETF denomination.

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Amundi Suisse SA, Rue De-Candolle 6, 1205 Genève, Switzerland.

Or the Swiss representative for our ETFs: Société Générale , Zurich Branch, Talacker 50, Box 1928, CH-8021 Zurich, Suisse.

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The information on this website is exclusively directed at qualified investors within the meaning of the Federal Act of Collective Investment Schemes (CISA) and its implementing ordinance as well as according to the most recent interpretation of the Swiss Financial Market Supervisory Authority (FINMA).

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Qualified investor: definition

Qualified investors within the meaning of Article 10 of the Swiss Federal Collective Investment Schemes Act of 23 June 2006 (“CISA”) and the Collective Investment Schemes Ordinance of 22 November 2006 (“CISO”) are essentially the following:

1.regulated financial intermediaries such as banks, securities traders, fund management companies and asset managers of collective investment schemes as well as central banks;

2.regulated insurance institutions;

3.public entities and retirement benefits institutions with professional treasury operations;

4.companies with professional treasury operations;

5.investors who have concluded a written discretionary management agreement with a regulated financial intermediary as defined in section 1 unless they have declared in writing that they do not wish to be deemed as qualified investors;

6.investors who have concluded a written discretionary management agreement with an independent asset manager, provided they have not notified in writing that they do not wish to be deemed as qualified investors and provided (i) the independent asset manager in its capacity as financial intermediary is governed by Article 2 para 3 (e) of the Anti-Money Laundering Act of 10 October 1997 (“AMLA”), (ii) the independent asset manager is governed by the code of conduct issued by a specific industry body, such code of conduct being recognized as the minimum standard by the Financial Market Supervisory Authority (FINMA), and (iii) the discretionary management agreement complies with the standards of a specific industry body, such standards being recognized as the minimum standard by FINMA;

7.high-net-worth individuals who have confirmed in writing to a financial intermediary pursuant to section 1, or to an independent asset manager that meets the requirements described in section 6, that they wish to be considered as qualified investors (“opting-in”) and that they (a) have the knowledge required to understand the risks of the investments based on their individual education and professional experience or based on comparable experience in the financial sector and hold assets of at least CHF 500,000 (b) hold assets of at least CHF 5 million;

8.independent asset managers who fulfill the requirements described in section 6, and confirm that they will use the information on this website that refers to investment funds not approved by FINMA exclusively for clients that are regarded as qualified investors.

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This website is published by Lyxor International Asset Management (« LIAM »).

Société par actions simplifiée (simplified private limited company) with a capital stock of 72 059 696 euros

Nanterre Trade Register N° 419 223 375

APE Number: 6630Z

Registered Office: 91-93, boulevard Pasteur, 75015 Paris, France

VAT No: FR 504 19223375

Responsibale person for the publication is: Lionel PAQUIN, CEO

Editing director: Nathalie BOSCHAT, Global Head Lyxor Communication (Tel.: +33 1 42 14 83 21; E-Mail: nathalie.Boschat@lyxor.com).

 

This website is hosted on the own servers of de Microsoft Azure.

This website is governed by French law.

Professional regulations

LIAM is a French investment management company authorized by the Autorité des marchés financiers under the UCITS Directive (2009/65/CE) and the AIFM Directive (2011/31/UE). LIAM is represented in the United Kingdom by Lyxor Asset Management UK LLP, which is authorized and regulated by the Financial Conduct Authority in the UK (FCA reference number 435658). Lyxor AM is a registered Commodity Pool Operator and a Commodity Trading Advisor under the U.S. Commodity Futures and Trade Commission. Lyxor AM is also a member of the National Futures Association.

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Fund documents/Legal information

Purchase orders for shares of our funds can be accepted on basis of the current legal documents only. The fund and share class specific Key Investor Information Documents (KIID), Prospectuses, Articles and Trust deeds as well as Annual and Semi-annual Reports of the funds referred to on this website may be obtained free of charge from

Swiss Representative:  Société Générale Paris, Zurich Branch, Talacker 50, P.O. Box 1928, CH-8021 Zurich, Switzerland.

Sales restrictions

The information on this website is exclusively intended for qualified investors with residence or domicile in Switzerland. The information on the financial products referred to in this website is expressly not directed to any person in or from any jurisdiction where the publication or availability of such products is prohibited (on grounds of residence, domicile, nationality or otherwise). Accordingly, the information contained herein does not constitute an act of distribution, an offer to sell or the solicitation of an offer to buy any securities to any person or entity in any jurisdiction in which such distribution or offer may not be lawfully made or access to such information is not permitted. Persons subject to local restrictions of this type must refrain from accessing this website. Investors should take advice from their own independent advisors before making an investment decision and should be aware of local laws governing investments. Without limiting the generality of the foregoing, the information in this website is not directed and not for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities in the United States of America to or for the benefit of United States persons (being in particular nationals or residents of the United States of America or partnerships or corporations organized under the laws of the United States of America or any state, territory or possession thereof).

The shares are not registered under the U.S Securities Act of 1933 and may not be directly or indirectly offered or sold in the United States (including its territories or possessions) or to or for the benefit of a U.S Person (being a “United State Person” within the meaning of Regulation S under the Securities Act of 1933 of the United States, as amended, and/or any person not included in the definition of “Non-United States Person” within the meaning of Section 4.7 (a) (1) (iv) of the rules of the U.S. Commodity Futures Trading Commission.). No U.S federal or state securities commission has reviewed or approved this document and more generally any documents with respect to or in connection with the fund. Any representation to the contrary is a criminal offence.

Not all of the funds accessible on this website are registered for distribution in or from Switzerland to non-qualified investors. The Swiss Financial Market Supervisory Authority (FINMA) publishes a list of foreign collective investment schemes which are registered for distribution in or from Switzerland on their website. Société Générale Paris, Zurich Branch, Talacker 50, P.O. Box 1928, CH-8021 Zurich, Switzerland., is the representative and paying agent in Switzerland of the funds which are registered for distribution in or from Switzerland and for non-registered funds that are distributed exclusively to qualified investors.

Past performance

Past performance is not a guarantee or a reliable guide to the future. Market and exchange rate movements may cause the capital value of investments, and the income from them, to go down as well as up and the investor may not get back the amount originally invested. Investments in emerging markets may result in higher risks and volatility due to political and economic instability and less developed markets and systems.

Subscriptions for investment in any fund mentioned on the website may only be made on the basis of the relevant prospectus, the simplified prospectus and the Key Investor Information Document ("KIID"), respectively, and the most recent annual financial statements (or semi-annual financial statements if published thereafter).

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We may collect information about you when you use this website, e.g. by sending cookies to your computer or if you provide us with certain information about yourself to register to access and use certain portions of this website. We use such information about you to verify your identity and eligibility to receive certain products or services, to provide information to you about products and services that we believe may be of interest to you, to record your interest in products and services that we offer, and to respond to your requests for information. We do not use for other purposes or disclose to any third party any personal information, except with your consent or as otherwise permitted or required by law. We maintain physical, electronic and procedural safeguards to guard your personal information and request from our employees to fully adhere to privacy standards, policies and the applicable laws. Please note that data that is transported over the Internet may be accessible to anybody. Your data may be lost during transmission or may be accessed by unauthorized parties. Neither Lyxor International Asset Management nor any other affiliate accepts any liability for direct or indirect losses as regards the security of your data during its transfer via Internet. Please use other means of communication if you think this is necessary or prudent for security reasons.

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The contents of this website are based upon sources of information believed to be reliable. Neither Lyxor International Asset Management nor any other affiliate makes warranty that access to the site will be uninterrupted or error-free, that defects will be corrected, or that viruses or other harmful components will not be transmitted in connection with your use of the website. Lyxor International Asset Management and their affiliates hereby expressly disclaim, to the fullest extent permitted by applicable law and/or regulation, all warranties, express, statutory or implied, regarding the website and any results to be obtained from the use of the website and its contents, including but not limited to all warranties of merchantability, non-infringement, fitness for a particular purpose or use and all warranties arising from course of performance, course of dealing and/or usage of trade or their equivalents under the applicable laws and/or regulations of any jurisdiction. Neither Lyxor International Asset Management , nor any other affiliate warrants or guarantees the accuracy, timeliness, suitability, completeness, or availability of this website or the information or results obtained from use of it.

Under no circumstances and under no theory of any applicable law and/or regulation shall Lyxor International Asset Management or any other affiliate, their officers, directors or employees be liable to anyone for any damages arising in tort, contract, strict liability or otherwise from access to or use of the website or inability to access, regardless of whether they are direct, indirect, special, incidental, or consequential damages of any character, including damages for trading losses or lost profits, or for any claim or demand by any third party.

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14 Oct 2019

ESG: Invest in companies standing up for women in the workforce

The facts are straightforward: although women have earned more college or university degrees than men for over 30 years, they are underrepresented in many high-paying and prestigious jobs around the world. Fewer women are hired at entry level, then, at every step of corporate life, the number falls further. 

In terms of pay, this year’s ‘Equal Pay Day’ in Europe fell on 27th February 2019. This date shows how far much further into the following year women had to work to earn what men earned the previous year.  

Taking action 

How can ethical investors who want to further gender equality put their money where their beliefs lie? 

Gender equality is number five of the UN’s Sustainable Development Goals. Lyxor, as a signatory of the Principles for Responsible Investment since 2014, is committed to making its investment opportunities as aligned with these goals as possible. That’s why in 2017 we developed an ESG ETF that allows investors to put money only into the companies committed to allowing women their share of power, influence and pay in the workplace. 

The ‘gender dividend’

Why should companies and investors focus on gender equality at all? Aside from the moral and legal duty not to discriminate, there are important financial benefits related to gender balance, sometimes referred to as the ‘gender dividend’. For one, women control around $20trn in annual consumer spending, and they are expected to be responsible for 75% of all consumer-goods buying worldwide by 2028.1 That means there is a powerful business incentive for companies to promote gender-diverse workforces that can better reflect the priorities and preferences of billions of decisionmakers. 

Women in OECD countries are also highly educated: 50.7% of women aged 25-34 have a tertiary education from a university, college, or trade school.2 By underemploying or underpromoting a highly educated cohort of society, companies are likely missing out on talent that could drive material growth in their business.  

And evidence does point towards a measurable impact on companies’ bottom lines. One study by McKinsey showed gender-diverse companies are 21% more likely to outperform their peers on EBIT margin, a measure of profitability.3 Ethical investing doesn’t have to harm performance.

Building ELLE – Lyxor’s gender equality ETF

To build an ethical ETF which allows investors to channel money into the companies most committed to equality, we chose to use data from gender equality research organisation, Equileap. In partnership with the sustainable finance group at Maastricht University, Equileap has built one of the most comprehensive databases on corporate gender equality. The research undertaken investigates large-cap companies’ commitment and actions towards gender equality, and allows Equileap to compile gender equality scorecards, reports and indices. 

The gender equality index used by Lyxor is compiled by Equileap and German index provider Solactive.4 To be eligible for the index, a company must have a market cap of at least USD 2bn, be listed in 23 developed countries and be leading change on the gender equality front. 

 

Traditional ESG metrics are also taken into consideration. Companies involved in the manufacturing of weapons, gambling or tobacco cannot be included; nor can a company excluded by the Norwegian sovereign fund. Any company in the midst of a gender-related legal case is also ruled out. 

The companies are ranked in accordance with their commitment and actions towards gender equality, with the top 150 earning a place in the index. These companies are actively promoting a gender balance across every level of the workplace, from entry points to the most senior leadership positions. They are committed to equal pay and foster policies which allow employees to achieve a balance between their workplace and other commitments. Policies and training programmes that further promote gender equality within the company are also necessary, as is a commitment to openness and accountability on the issues of gender fairness. 

Source: Equileap, as at October 2019.

Source: Equileap, as at October 2019.

Questions companies must supply evidence for before they can be considered include: what is the percentage of females on the board of directors? What is the percentage of female executives and senior management? How big is the gender pay gap? Is there a strategy to close this gap? 

Other factors companies need to be concerned with are: flexible working options, parental leave policies, recruitment strategy, freedom from bullying, violence and sexual harassment policies. Companies in the index should also be signatories to the UN Women’s Empowerment Principles. This multi-dimensional approach goes far beyond other funds for gender equality in the market that focus just on women in leadership metrics.

Profits from licensing Equileap’s data to Lyxor’s chosen index provider (Solactive) are donated to the Equileap Foundation, a charity devoted to helping women and girls in developing countries.5

And the winners are… 

Equileap recently unveiled its 2019 Global Gender Equality Report, including the companies who made it into the top 100.

UK beverages company Diageo took the top spot in the latest rankings, followed closely by Australian real estate group Mirvac and US financial services giant Bank of America. Notable achievements include a mean gender pay gap of 3% or less for Diageo, gender balance at all seniority levels for Mirvac, and a clearly defined strategy to close the gender pay gap for Bank of America.

And the winners are…

Source: Equileap, October 2019.

Interestingly, a whopping 25 out of the top 100 companies in Equileap’s rankings are Australian. One potential reason for this bias is legislation dating back to 2012 requiring companies to publish comprehensive public reports on their gender equality metrics on an annual basis. Australia is a great example of how enforcing transparency can lead to real change. A similar phenomenon can be observed in the UK following the 2017 Equality Act.

The bottom line 

Gender equality matters because when it is put into action, it can lead to tangible benefits for companies and society, including better access to leadership roles and reduced gender-based discrimination. The long-term impact of gender parity on economic growth is compelling too. Full gender equality in the workplaces of the world has been estimated to be able to bring a benefit of USD 28 trillion to global GDP by 2025.6

As well as social and economical arguments, there are also sound financial reasons for allowing women greater access to every level of a company – women make excellent workers, managers and senior executives, and studies have shown that a balanced workforce can help drive companies towards outperformance.

Find out more about ELLE, Europe’s first Gender Equality ETF

1Source: Boston Consulting Group.
2Source: OECD data, as at 2017
3Source: McKinsey, Delivering through Diversity, Jan 2018. Financial performance analysis showed that top-quartile companies were 21% more likely than fourth quartile companies to outperform national industry peers on EBIT margin, but also were 27% more likely than fourth quartile companies to have industry-leading performance on longer-term value creation, as measured using economic profit margin (Net Operating Profit Less Adjusted Taxes – [Invested Capital x Weighted Average Cost of Capital]). Analysis performed on over 1,000 companies in 12 countries. Past performance is not a reliable indicator of future results.
4Full index methodology available on Solactive website: https://www.solactive.com/wp-content/uploads/2017/11/Solactive-Equileap-Gender-Equality-Index_20171101-3.pdf
5Equileap receives 25% of the management fees received from investors in the Lyxor Global Gender Equality (DR) UCITS ETF. Any profits from the licensing of Equileap’s data to Lyxor’s chosen index provider (Solactive) go to the Equileap Foundation, helping women and girls in developing countries
6Source: McKinsey Global Institute, The Power of Parity, September 2015. Assumption is based on a ‘full potential’ scenario in which women participate in the economy identically to men.

FOR QUALIFIED INVESTORS ONLY– This document is reserved and must be given in Switzerland exclusively to Qualified Investors as defined by the Swiss Collective Investment Scheme Act of 23 June 2006 (as amended from time to time, CISA).

This document has been provided by Lyxor International Asset Management that is solely responsible for its content.

Lyxor Index Fund- Lyxor Global Gender Equality (DR) UCITS ETF - Acc, domiciled in Luxembourg (Funds) is a collective investment scheme approved by the Swiss Financial Market Supervisory Authority FINMA (FINMA) as a foreign collective investment scheme pursuant to article 120 of the Swiss Collective Investment Schemes Act of 23 June 2006 (as amended from time to time, CISA) for distribution in Switzerland to non-Qualified Investors as defined in the CISA.

Financial intermediaries (including particularly, representatives of private banks or independent asset managers, Intermediaries) are hereby reminded on the strict regulatory requirements applicable under the CISA to any distribution of foreign collective investment schemes in Switzerland. It is each Intermediary’s sole responsibility to ensure that (i) all these requirements are put in place prior to any Intermediary distributing any of the Funds presented in this document and (ii) that otherwise, it does not take any action that could constitute distribution of collective investment schemes in Switzerland as defined in article 3 CISA and related regulation.

Any information in this document is given only as of the date of this document and is not updated as of any date thereafter.

This document is for information purposes only and does not constitute an offer, an invitation to make an offer, a solicitation or recommendation to invest in collective investment schemes.  This document is not a prospectus as per article 652a or 1156 of the Swiss Code of Obligations, a listing prospectus according to the listing rules of the SIX Swiss Exchange or any other trading venue as defined by the Swiss Financial Market Infrastructure Act of 19 June 2015 (as amended from time to time, FMIA), a simplified prospectus, a key investor information document or a prospectus as defined in the CISA.

An investment in collective investment schemes involves significant risks that are described in each prospectus or offering memorandum. Each potential investor should read the entire prospectus or offering memorandum and should carefully consider the risk warnings and disclosures before making an investment decision.

Any benchmarks/indices cited in this document are provided for information purposes only.

This document is not the result of a financial analysis and therefore is not subject to the “Directive on the Independence of Financial Research” of the Swiss Bankers Association.

This document does not contain personalized recommendations or advice and is not intended to substitute any professional advice on investments in financial products.

The Representative and the Paying Agent of the Fund in Switzerland is Société Générale, Paris, Zurich Branch, Talacker 50, 8001 Zurich.

The prospectus or offering memorandum, the key investor information documents, the management regulation, the articles of association and/or any other constitutional documents as well as the annual and semi-annual financial reports may be obtained free of charge from the Representative in Switzerland.

In respect to the units/shares of the Fund distributed in and from Switzerland, place of performance and jurisdiction is at the registered office of the Representative in Switzerland.

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