Methodology Change | Solactive Equileap Global Gender Equality 100 Leaders Index | Effective Date 15/09/2020
Today, on the 08/09/2020, Solactive announces the following changes to the methodology of the following Indices (the ‘Affected Indices’):
|
NAME |
RIC |
ISIN |
|
Solactive Equileap Global Gender Equality 100 Leaders PR Index |
.SOLGGEPR |
DE000SLA3SX1 |
|
Solactive Equileap Global Gender Equality 100 Leaders GTR Index |
.SOLGGEGR |
DE000SLA3S18 |
|
Solactive Equileap Global Gender Equality 100 Leaders NTR Index |
.SOLGGENR |
DE000SLA3S00 |
Rationale for methodology change
The Affected Indices provide exposure to companies which have demonstrated a commitment to gender diversity as part of their corporate responsibility strategy. Solactive decided to refer to Solactive Benchmark indices for the purpose of the Starting Universe. When the Affected Indices were launched, these broad benchmarks were not yet available, but meanwhile they are live and would increase the quality of the starting pool of securities. At the same time this might lead to a light reduction of the index turnover, which has been higher than anticipated since the launch of the Affected Indices.
Changes to the Index Guideline
The following Methodology changes will be implementedin the following points of the Index Guideline (ordered in accordance with the numbering of the affected sections):
- Section 2.1 “Selection of the Index Components”:
OLD Text:
[…]
On the Selection Day (10 Business Days before the last Business Day of September), Solactive receives the starting universe and the Gender Diversity Scores from Equileap.
The starting universe is determined by Equileap based on the rules described below:
- Include only the companies with their primary listing in a Developed Markets Economy
- Include only companies with an Average Market Capitalization over the past 12 months of at least USD 2 billion
[…]
NEW Text:
[…]
On the Selection Day (10 Business Days before the last Business Day of September), Solactive receives the Gender Scores from the Gender Data Provider which is covering the below Solactive benchmarks:
- Solactive GBS Developed Markets Large & Mid Cap Index
- Solactive Europe 600 Index
- Solactive GBS United States 1000 Index
[…]
|
G. |
|
Exclusion |
Description |
Data provider |
|
Exclusion Criteria |
A |
Companies that do not adhere to basic ESG Standards |
Derive more than 50% of their revenues from the following product involvement
Are failing the ISS ESG Norms Based Screening (verified infringement of established international initiatives and guidelines such as UN Principles and OECD Guidelines). |
ISS ESG |
|
B |
Companies that have engaged in known unethical business practices for the past 2 years |
Exclude companies, for one year, that have been involved in these unethical practices regarding their employees or customers: |
Equileap |
[…]
- Section 4, “Definitions”:
New Definitions
The “Gender Data Provider” is Equileap.
The “ESG Data Provider” is ISS ESG.
Defined terms used in this announcement, but not defined herein, have the meaning assigned to them in the respective index guideline of the Affected Indices. The amended version of the index guideline will be available on the effective date.