By combining the engagement and voting capacities of its member companies, the 30% Club France Investor Group ("The Group"), which was initiated by AXA IM, aims to increase the representation of women in the SBF 120’s executive management teams to reach at least 30% by 2025. The Group does not intent to fix mandatory quotas but supports a voluntary approach aimed at implementing meaningful and sustainable change.
The Group also aims to collaborate with and coordinate a community of investors around the issue of gender diversity, as well as generate open discussions with the SBF120 companies and support them in this transition.
“Diversity in executive management teams fosters a more efficient and innovative decision-making process and allows for better retention of talent. As investors, we want to encourage the sustainable growth of the companies in which we invest, and we are convinced that this can come from a better representation of women in executive management teams. For this reason, we are launching today the 30% Club France Investor Group,” declared the members of the Group.
The six asset management companies will engage with companies (including the CEOs, Heads of Human Resources, members of the Boards of Directors, nomination committees) on the issue of diversity within the management teams and will encourage better representation of women, especially in operational roles.
Beyond leadership, the Group will also want to understand how the criteria of gender diversity is considered in the recruitment and promotion process at all levels of the corporate hierarchy, with the aim of ensuring the creation of a sufficiently diverse talent pool across the entire company. The Group will also ensure that companies have set clear goals relating to gender diversity and that an action plan has been put in place to achieve them.
Finally, during the Annual General Meetings, Group members will be able to use their voting rights to encourage companies to take concrete actions when the measures taken in favour of gender diversity are considered insufficient and the engagement with the company wouldn’t have led to a satisfactory result.
With six members to date, the Group wishes to expand its membership. Asset management companies that invest in SBF 120 companies, whether based in France or abroad, as well as institutional investors, are invited to join the 30% Club France Investor Group in the coming months.
“The 30% Club Investor Group has been launched in five countries (Australia, Brazil, Canada, Japan, United Kingdom) and we are pleased to now also be able to bring a collective voice around gender diversity in France. Our strategy will continue to evolve over time and we hope that the SBF 120 companies will respond positively to our requests for dialogue so that we can best support them in this transition,” said Marie Fromaget, Molly Minton and Virna Valenti, who co-chair the 30% Club France Investor Group.
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2 The SBF 120 is a French stock market index on the Paris stock exchange which includes the 120 most liquid stocks on the French primary and secondary market. It includes CAC 40 companies as well as 80 other listed companies whose securities are the most liquid.
Amundi, the leading European asset manager, ranking among the top 10 global players1, offers its 100 million clients - retail, institutional and corporate - a complete range of savings and investment solutions in active and passive management, in traditional or real assets. With its six international investment hubs2, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape. Amundi clients benefit from the expertise and advice of 4,500 employees in nearly 40 countries. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €1.650 trillion of assets3. Amundi, a trusted partner, working every day in the interest of its clients and society.
1 Source: IPE “Top 500 Asset Managers” published in June 2020, based on assets under management as at 31/12/2019.
2 Boston, Dublin, London, Milan, Paris and Tokyo.
3 Amundi data as at 30/09/2020
About AXA Investment Managers
AXA Investment Managers (AXA IM) is an active, long-term, global, multi-asset investor. We work with clients today to provide the solutions they need to help build a better tomorrow for their investments, while creating a positive change for the world in which we all live. With approximately €830 billion in assets under management as at end of September 2020, AXA IM employs over 2,350 employees around the world and operates out of 30 offices across 21 countries. AXA IM is part of the AXA Group, a world leader in financial protection and wealth management.
About La Banque Postale Asset Management
With close to €50 billion in assets under management (at 30 September 2020), La Banque Postale Asset Management (LBP AM) is a multi-specialist conviction management firm working to make finance more sustainable and transparent. LBP AM is 70%-owned by La Banque Postale, 25% by Aegon Asset Management and 5% by Malakoff Humanis. A leader in socially responsible investment (SRI) for multi-specialist conviction management, LBP AM has four investment desks: Equity via its Tocqueville Finance subsidiary, Property & Private Assets (with a focus on debt), Multi-assets Management & Absolute Return, and Quantitative Investment Management. It serves a customer base of institutional investors, traditional and mutual insurers, large companies and external distributors with a range of open-ended, dedicated and advisor-directed funds.
Mirova is an investment manager dedicated to responsible investment and an affiliate of Natixis Investment Managers. Through a conviction-driven investment approach, Mirova’s goal is to combine value creation over the long term with sustainable development. Mirova’s talents have been pioneers in many areas of sustainable finance. Their ambition is to keep innovating to propose the most impactful solutions to their clients.
About Ostrum Asset Management
Ostrum Asset Management draws on its investment expertise to enhance the impact of its clients’ commitments as they act together to support European citizens’ life plans, health and retirement. A European institutional investment management leader1, Ostrum Asset Management supports its clients in their liability-driven investments, offering both asset management solutions on the back of its long-standing fixed-income and insurance-related management expertise, and investment services via its innovative technological platform.
Ostrum Asset Management is a well-established responsible investment advocate2 and manages €430 billion3 in assets for large institutional clients – insurers, pension funds, health insurers, corporations – as well as €590 billion3 in assets under administration for professional investors worldwide across all asset classes.
Ostrum Asset Management is an affiliate of Natixis Investment Managers.
1 IPE Top 500 Asset Managers 2020 ranked Ostrum AM as the 77th largest asset manager, as at 12/31/2019. Any reference to a ranking, a rating or an award provides no guarantee for future performance.
2 Ostrum AM was one of the first French asset manager signatories to the PRI in 2008. More details; www.unpri.org
3 Source: Ostrum Asset Management, consolidated data at end-September 2020. Administered assets include Ostrum AM's assets. The services provided for a given client may concern certain services only.
About Sycomore Asset Management
Founded in 2001, Sycomore Asset Management is an asset manager specialised in sustainable listed investments and driven by a strong entrepreneurial spirit. Since its creation, Sycomore has been committed to delivering long-term returns by identifying the levers that enable a company to generate sustainable value.
The firm’s expertise draws on a fieldwork approach and a proprietary corporate fundamental analysis model, which includes financial and extra-financial criteria. Its team of 22 analysts-fund managers, including 9 ESG specialists (Environment, Social and Governance) focus on assessing the overall performance of a company with respect to its stakeholders: shareholders, clients, employees, suppliers, civil society and the environment.
Since 2015, Sycomore AM has broadened its range of investment solutions with funds with a strong social, societal and environmental contribution. More recently, in collaboration with Quantis and I Care & Consult, it launched the NEC Initiative, an open-source collaborative platform dedicated to the NEC, for Net Environmental Contribution, which measures the degree of alignment of a product or service, project, company, portfolio or index with the ecological transition: www.nec-initiative.org.
Mirova is an affiliate of Natixis Investment Managers.
Portfolio management company - French Public Limited liability company
Regulated by AMF under n°GP 02-014
RCS Paris n°394 648 216
Registered Office: 59, Avenue Pierre Mendes France – 75013 – Paris.
Ostrum Asset Management
An affiliate of Natixis Investment Managers.
French Public Limited liability company with board of Directors.
Share capital €48 518 602.
Regulated by the Autorité des Marchés Financiers (AMF) under no. GP 18000014.
RCS Paris n° 525 192 753.
43 avenue Pierre Mendès France 75013 Paris, France.
Natixis Investment Managers
Natixis Investment Managers is a subsidiary of Natixis.
Portfolio management company - French Public Limited liability company
RCS Paris n°453 952 681
Registered Office: 43, Avenue Pierre Mendes France – 75013 – Paris.