The first investment fund aimed at encouraging gender diversity among UK firms has been launched by Legal and General Investment Management (LGIM).
The L&G Future World Gender in Leadership UK Index Fund (GIRL) will favour shares in firms that have the best record on gender diversity. It will score and rank companies according to four different measures, including women on the board.
Only one of the UK's biggest 350 firms achieved full marks for diversity. Renewables Infrastructure Group, the investment specialist, achieved a top score of 100 for the number of women on its board, among its executives, in management and in the workforce.
Companies are expected to reach a minimum of 30% representation of women in these four measures, said LGIM.