Pax World to offer 'gender' indexes

A new series of benchmark indexes that will invest solely in companies that promote gender equality is in the works. The series of five indexes is being developed by KLD Research & Analytics Inc of Boston and Pax World Management Corp., the Portsmouth, N.H.-based firm that offers the Pax World Funds, a family of socially conscious mutual funds The Gender Investment Index series will include exposure to large- and mid-cap companies with policies that encourage the hiring and promotion of women, as well as other actions that advance gender equality. “Research shows that gender empowerment almost always has a positive impact on [corporate] performance,” Julie Gorte, senior vice president for sustainable investing at Pax World, said in a statement. Pax World provided research to support the creation of the indexes. The series is being developed for the International Finance Corp., a member of the World Bank Group, a Washington-based organization that offers loans, advice and other consulting services to developing countries.