Credit Suisse launched a new index Monday, which it says is the world’s first index to track the equity performance of companies with policies that are deemed Lesbian, Gay, Bisexual and Transgender (LGBT) friendly.
The Credit Suisse LGBT Equality Index is a capitalization-weighted equity index that measures the performance of U.S. companies recognized for supporting and promoting equality for members of the LGBT community. To qualify for inclusion in the index firms must achieve a score of 80 or above on the Human Rights Campaign’s Corporate Equality Index, which is the national benchmark for corporate policies and practices related to LGBT employees.
Credit Suisse is also launching an investable portfolio geared to the index, the Credit Suisse LGBT Equality Portfolio, which it says is currently the only investable instrument associated with the index. It’s available to its private banking clients in the U.S.
“Wall Street, and Credit Suisse in particular, has a strong track record of providing leadership and support for LGBT-related issues,” said Timothy O’Hara, Credit Suisse global head of equities. “We are very pleased to be launching an index that tracks the economic impact of LGBT-supportive policies.”