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January 29, 2008
Finnish banks offer option invested in women-led firms only
HELSINKI (AFP) - Two Finnish banks on Wednesday announced the creation of a new index option invested solely in companies headed by women, pointing out that recent studies indicate such firms are more profitable.
Aalandsbanken and Tapiola banks jointly launched "Top Women," an option invested in a bouquet of 15 multi-national companies "selected for their strong profitability and large number of women in high-level positions."
"Companies with both women and men in leading positions are more profitable than those led solely by men," the banks said in a statement, referring to several recent studies.
One of the studies, conducted by international consultancy McKinsey last year and titled "Women Matter", found that companies with more gender-balanced boardrooms are on average 10 percent more profitable than their peers in the same sector.
"Women making most of the household purchasing decisions and women-led companies are good at picking up on customer needs," the banks explained, adding that women leaders also offer alternative and fresh approaches to business deals.
Among the companies included in the Top Women option are cereal maker Kellogg's and cosmetics firm Avon from the United States, British energy company Centrica, Swedish banks SEB and Swedbank and Norwegian oil giant StatoilHydro.
The option is open between January 28 and February 15 and requires a minimum investment guarantee of 1,000 euros (1,460 dollars).
Posted by ronnie at January 29, 2008 08:11 AM