Barclays launches Women in Leadership index and ETNs
Barclays Bank has launched the Barclays Women in Leadership Exchange Traded Notes (ETNs) on the NYSE Arca Exchange under the ticker symbol WIL.
The ETNs began trading on 10 July. To celebrate the launch of the Women in Leadership index family and ETNs, Barclays rang the New York Stock Exchange opening bell on 10 July.
The ETNs, which track the Barclays Women in Leadership Total Return Index, are designed to provide investors with exposure to US companies with gender-diverse executive leadership and governance.
The index, which uses data compiled by Institutional Shareholder Services (ISS), is designed to provide exposure to US-based listed companies that have gender-diverse leadership and which meet market capitalisation and trading volume thresholds. To be included in the index, a company must, among other things, have a female CEO and/or at least 25 per cent female members on the board of directors.
“Women are significantly underrepresented in corporate executive leadership, yet a growing body of third-party research suggests that gender-diverse leadership may correlate with relatively stronger corporate performance, as compared to companies with less gender-diverse leadership,” says Barbara Byrne, vice chairman in investment banking. “We believe that providing ETNs and indices that enable investors to allocate capital to this theme will provide a market-based approach to help catalyse change.”
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