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World's Largest Asset Owner, Japan's Government Pension Investment Fund, Selects New Gender Diversity Index Launched by Morningstar in Collaboration with Equileap
New index weights constituents based on 19 gender equality criteria provided by Equileap TOKYO, Dec. 18, 2020 /PRNewswire/ -- Morningstar, Inc. (Nasdaq:
About this update from Morningstar, Inc.
[{"type":"text","content":"New index weights constituents based on 19 gender equality criteria provided by Equileap\n\n\nTOKYO, Dec. 18, 2020 /PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today announced the launch of the Morningstar® Developed Markets ex-Japan Gender Diversity Index℠, a new index powered by the data and scoring methodology of Equileap, a global provider of data and insights on gender equality for investors.\nSeeking long-term better risk-adjusted returns, Japan's Government Pension Investment Fund (GPIF), the world's largest pension fund with approximately $1.5 trillion in assets under management as of June 2020, incorporates not only financial factors but also environmental, social, and governance (ESG) factors in its investment decisions and now tracks the Morningstar Developed Markets ex-Japan Gender Diversity Index. The Morningstar Developed Markets ex-Japan Gender Diversity Index is designed to provide exposure to developed market companies exhibiting strong gender diversity policy and practices, leveraging the Equileap Gender Equality Scorecard™. Investor demand for ESG has increased drastically in the last decade; Morningstar research shows global assets in sustainable funds hit a record high of $1.2 trillion as of September 2020.\nRon Bundy, president of Morningstar Indexes, said: \"During a tumultuous year consumed by a global health and economic crisis in which research shows working women pay a disproportional toll, transparent practices and policies that advance gender representation should be top of mind for companies. We are thrilled to be working with Equileap and GPIF on a meaningful endeavor that we believe will have the potential to not only act as a catalyst to shape corporate behavior but also help investors achieve their financial goals.\" \nYu-Tsung Chang, president of Ibbotson Associates Japan, Inc., a wholly owned Morningstar company in Japan that worked on this initiative, said: \"It's a privilege to work with GPIF on this initiative to drive greater awareness of gender equality in corporate culture. Over the past 20 years since we established our presence in Asia, Morningstar has continuously aimed to empower investor success by providing an independent perspective and sharing insights on issues important to investors, such as gender equality.\" \nDiana ...