Harris and Harris Wealth Management Group and Pax Investments are to launch Pax Ellevate Global Women's Index Fund, the first mutual fund in the US focusing on investing in companies that are leaders in advancing women professionally.
"I believe in providing investments that help women achieve their goals and support their values," says Zaneilia Harris, president of Harris and Harris Wealth Management Group. "This partnership with Sallie Krawcheck and Pax Investments will allow socially conscious women to invest in causes that align with their values."
Krawcheck is a principal of Ellevate Asset Management, a firm that allows investors an opportunity to invest in companies that embrace gender diversity and have a significant proportion of women in executive level positions.
As part of its Morning Cup of Finance Series, Harris and Harris Wealth will also host a teleconference with Mary Anne Majerus-Lambert, vice president of advisor markets for Pax Investments, on 23 August. Majerus-Lamber will discuss the fund's investment philosophy, its significance in promoting companies that believe in diversity and positioning women in key management positions.
All investments have risks, but research by Gallup shows when women hold positions of leadership, their companies deliver better performance across a variety of metrics, including returns on equity, sales and invested capital. In addition, they deliver higher returns for their shareholders.