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Mackenzie Global Leadership Impact ETF subadvised by Pax Ellevate Management

By Leah Golob |

 

Toronto-based Mackenzie Financial Corp. on Monday announced the launch of Mackenzie Global Leadership Impact ETF, a new ETF that gives investors an opportunity to advance women in leadership roles.

Among Canadian investors, 91% expect to increase or maintain their reliance on socially responsible investments in the next two to three years, according to research conducted by Toronto-based Environics Analytics Group Ltd. The new ETF will invest mainly in companies that encourage gender diversity and women's leadership, anywhere in the world.

The ETF's portfolio managers assess potential investments using various criteria, such as whether there is proportional representation of women on boards of directors and in leadership positions — including as CEOs and CFOs — in the companies.

"Mackenzie Investments is committed to delivering products that drive positive social, environmental and governance impact," says Michael Cooke, senior vice president and head of ETFs at Mackenzie Investments, in a statement. "The Mackenzie Global Leadership Impact ETF provides investors with a progressive product, promoting the benefits of gender diversity."

The ETF, which is subadvised by Portsmouth, N.H.-based Pax Ellevate Management LLC, began trading on the Aequitas NEO Exchange (NEO) Dec. 4.

This is Mackenzie's second listing on the NEO Exchange.

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