Seleccione otro país
Bienvenido a Lyxor España
Por favor, lea la información importante aquí incluida antes de continuar a nuestra página web

Información relevante 

Los ETF UCITS que figuran en este sitio web son fondos con denominación Amundi ETF y Lyxor ETF.

Los Lyxor ETFs presentados en la página web de, pueden ser objeto de restricciones en lo que respecta a la inversión por determinadas personas o en determinados países, en virtud de las distintas regulaciones nacionales aplicables a dichas personas o en dichos países. Cualquier persona que acceda a esta página web desde una jurisdicción en la cual se aplican dichas restricciones tiene que informarse al respecto y observar dichas restricciones. Por consiguiente, le corresponde a usted asegurarse de que, efectivamente está autorizado a invertir en los Lyxor ETFs presentados en esta página web. Invirtiendo en estos productos, usted garantiza a Société Générale que está efectivamente autorizado a invertir. Inversores españoles se deben dirigir a

La información contenida en esta página web no constituye una oferta o invitación para adquirir o vender los productos aquí descritos a personas sometidas a  jurisdicciones donde:

(a) dicha oferta o invitación no esté autorizada;
(b) Lyxor Asset Management no esté cualificada para hacer dicha oferta o invitación;
(c)  sea ilícito hacer dicha oferta o invitación.

Los ETFs referidos en esta página web no han estado y no estarán registrados conforme al U.S Securities Act de1933, por lo tanto, no pueden ser ofertados ni vendidos en los EE.UU sin registro previo o solo en caso de excepción de registro conforme al  al Securities Act. Por consiguiente, los ETFs listados en esta página web no pueden ser vendidos a “U.S persons”, ni transferidos a los Estados Unidos a menos que dicha transacción esté sujeta a los requisitos de registro conforme a la ley Americana.

Esta página web es de carácter comercial y no de carácter legal. No se garantiza la exactitud, exhaustividad o pertinencia de la información aunque ha sido establecida a partir de fuentes consideradas como fiables. La información presentada en esta página web se basa en información de mercado constada en un momento dado que puede variar con posterioridad a su publicación. El valor de reembolso de los Lyxor ETFs puede ser inferior al montante de la inversión inicial. En el peor de los casos, los inversores podrían perder hasta la totalidad de su inversión, por lo que se recomienda a los inversores consultar la sección« factores de riesgo » del folleto del producto. El precio de algunos Lyxor ETFs puede ser sensible a riesgos de tipo de cambio entre la cotización del ETF y/o la divisa del índice y/o la divisa del componente del índice.

Todos los LyxorETFs presentados en esta página web han sido aprobados por la “Autorité des Marchés Financiers (AMF)” y son objeto de un folleto aprobado por la AMF y pasaporteado en la CNMV conforme a la Directiva 2003/71/CE. Dichos folletos están disponibles en esta página Web.

La documentación relativa a los Lyxor ETFs preverá métodos de ajuste y de sustitución para tener en cuenta que consecuencias tendría cualquier suceso extraordinario que afecte a uno o varios de los subyacentes de estos productos.

Antes de invertir en un Lyxor ETF, usted debe hacer su propia valoración del riesgo desde un punto de vista legal, fiscal y  contable, sin depender exclusivamente de la información que le proporcionamos y consultando, si lo estima necesario, sus propios asesores en la materia o cualquier otro asesor independiente.

El inversor de ETFs estará expuesto a los siguientes factores de riesgo: Riesgo de pérdida del capital invertido, al no existir ninguna garantía, como consecuencia de un movimiento desfavorable del Índice de Referencia, Riesgo de que el objetivo de gestión solo se cumpla parcialmente, Riesgo de contrapartida como resultado de la utilización de los instrumentos financieros (OTC) formalizados con un establecimiento de crédito. Se recomienda a los inversores que consulten la sección del folleto antes de invertir.

En la medida en que cumpla con la legislación aplicable, ninguna entidad del Grupo Société Générale acepta responsabilidad alguna por las consecuencias financieras o de cualquier otra naturaleza que resulten de la inversión en este producto.

Tenemos un nuevo hogar

Banner Amundi

Leer más
07 sep 2021

Podcast: Minding the gender gap, with L’Oréal and Equileap

It’s time for the second episode of our new investing podcast, One Step Ahead, brought to you by Lyxor ETF.

In this episode, Libby Potter explores the topic of gender equality and its impact on corporate performance. While the moral and ethical arguments for gender equality are widely accepted, she finds growing evidence that a gender-diverse workforce has a positive impact on a business's bottom line too.

She is joined by guests Diana Van Maasdijk, CEO and co-founder at the independent data provider and research organisation Equileap, and Margaret Johnston-Clarke, Global Chief Diversity Equity Inclusion Officer at L'Oréal. Diana and Margaret gave their honest take on the state of gender equality in the corporate world, recognising where there has been progress and highlighting important areas for improvement. They also make the case for investing in gender equality.


Diana van Maasdijk
CEO and co-founder, Equileap


Margaret Johnston-Clarke 
Global Chief Diversity Equity Inclusion    Officer, L´Oréal

Below are a few edited highlights from the episode. You can listen to the full episode on your favourite podcast platform (Spotify, Apple Podcasts, Google Podcasts, Stitcher) or right here on the Lyxor ETF website:

Libby: I want to take the temperature of this issue of gender equality in the corporate world. What are your headline thoughts on where we are?

Diana: When I think of where we are today, I have to think about 30 years ago when I was in college and taking classes in gender studies, and at the time we were discussing issues like the gender pay gap, lack of paid parental leave for both men and women, sexual harassment, lack of women in leadership positions. Today, we continue to see these exact same problems. So, I think it's safe to say that we have not been able to advance too much in the last decades. But at the same time, we have to make a change because we know that gender equality is not only good for society, but it also has positive financial repercussions. I'm hoping that it's a problem that we can resolve within the next decade and that we don't have to wait another three.

Margaret, what’s your take?

Margaret: I think that gender equality has definitely made progress in the last few decades, but I would agree with Diana: there's a lot still to be done from a company's point of view. I think this has become a real issue today, which wasn't necessarily the case a few decades ago. So, I think that that's where we've made a tremendous advancement. Diversity, equity, inclusion are now present in most of the bigger businesses, but even smaller ones and medium-sized ones worldwide. There's been a huge wake-up call also in the last 12 months on social injustice issues, but also on sexism with #MeToo for the past three years. These are all issues that have stirred up conversations, discussions, but also policies internally. I work at L'Oréal, where we've done this for the past 20 years – we didn't wait for #MeToo to happen. But it's true that it definitely accelerated that discussion and it enabled us to test a lot of different programmes to fight sexism in the workplace, and to share best practices with other companies worldwide. I would say it's on a positive note: there's lots to be done, but we've moved forward in the last few years.

Diana, why does gender equality matter not just from a societal but an economic perspective? What evidence is there to support the idea that gender diverse companies perform better?

Diana: I think it's become more and more well-known that the societal benefits are there, that a world with equality and equal opportunities for everybody is a better world. But there's also a very strong business case which is not yet fully recognised, which is too bad because we're seeing more and more research that is pointing towards this direction. There are a number of research papers published by Harvard, MSCI, Credit Suisse, all kinds of companies pointing out that when you have more gender diversity, you have higher financial performance. But I'll give you an example of one of the latest research pieces which was published in late 2020 by an asset management firm called Glenmede.
Glenmede took the Russell 1000, which contains the 1000 largest companies in the US, and they ranked these companies based on Equileap’s gender equality score. Then, they looked at the financial performance of these companies from 2014 to 2020, and they found out that the top 20 percent of the companies, meaning the companies with the better gender equality score, outperformed the bottom 20 percent by almost three percent. There was a higher financial return in those companies that were doing better on gender diversity. And this is one of many other research papers.

Margaret, what have you found in terms of economic performance tallying with greater gender equality within a corporation?

Margaret: Well, I think that we obviously believe that a gender-diverse company performs better. If I were to build on what Diana just shared, I think that in our case, women make up two-thirds of our workforce. While we do have consumers of all genders, women do represent the majority. So, we need to reflect our consumers and therefore to create the beauty products that answer all of their needs, their expectations around the world.

So, I think having gender equity in our leadership, in our decision making – not just amongst our beauty advisors or teams, but really in the decision making – is absolutely crucial. It benefits everyone in the company, men and people of all of genders. We found that in terms of performance, more than half of our brands today are managed by women from a GM [General Manager] position. Almost half of our expatriates are women today, which wasn't the case a while ago. To have that diversity at the top level and that equity is absolutely fundamental from a performance standpoint.

It seems obvious to us that a more diverse company would perform better. However, Diana, your gender equality report that you mentioned earlier which ranks these top performing companies, makes this indisputable. Can you talk any more about the findings of your latest 2021 report?

Diana Sure. Every year we publish a report on how these companies are doing at the gender equality level and the last one in 2021. We have three main findings that I can share with you. First of all, we are far from achieving gender balance in the workplace. Unfortunately, although things have improved, we see that women hold 25 percent of the board positions and only 17 percent of executive positions globally. For many years we've been trying to target 30 percent. And at the global level, we're still not there. So that still needs to improve. Second, despite the #MeToo movement, which has been going on for three years already, we see that more than 50 percent of the companies, or 51 percent, to be exact, do not have an anti-sexual harassment policy. And we know that this is a problem for the workplace and that companies need to start doing something about that. We hope to see an improvement. And finally, the majority of the companies, 85 percent, still do not publish their gender pay gap. In fact, of all the 4,000 that we researched, only 15 companies have actually said “we have closed the gender pay gap in our company”. And here's another area where we hope to see improvement in the years to come.

Libby Wow. That actually surprises me. Shocks me.

Catch up on the rest of the conversation in the full episode of One Step Ahead.

We hope you’ll join us in upcoming episodes for more exclusive and unfiltered expert insights on the future of the planet – and how we can invest in a better future.

Relevant ETFs

Our SFDR 8 compliant Lyxor Gender Equality (DR) UCITS ETF offers a simple way to take a stand for women in the workforce, and invest in gender-diverse companies.

The benefits of gender equality from an investment perspective as measured by Equileap’s score were highlighted in this insight by Glenmede, as mentioned by Diana in this podcast.

At the time of this podcast recording, L’Oréal was a holding in our Gender Equality ETF (Bloomberg ticker: ELLE). In its 2021 Global Gender Equality Report, Equileap ranked L’Oréal the top performing French company for gender equality and 4th globally.

Learn more about our Gender Equality ETF

This podcast is for informational purposes only, and should not be taken as investment advice and/or an offer to buy financial products. Lyxor International Asset Management, holding the brand Lyxor ETF, does not in any way endorse or promote any companies or securities mentioned in this show. The opinions expressed at the time of recording do not necessarily reflect the views of Lyxor ETF or its parent company, Societe Generale, and may vary from time to time.

Risk Warning

This document is for the exclusive use of investors acting on their own account and categorised either as “Eligible Counterparties” or “Professional Clients” within the meaning of Markets in Financial Instruments Directive 2014/65/EU. These products comply with the UCITS Directive (2009/65/EC). Société Générale and Lyxor International Asset Management (LIAM) recommend that investors read carefully the “investment risks” section of the product’s documentation (prospectus and KIID). The prospectus and KIID are available free of charge on, and upon request to
Except for the United-Kingdom, where this communication is issued in the UK by Lyxor Asset Management UK LLP, which is authorized and regulated by the Financial Conduct Authority in the UK under Registration Number 435658, this communication is issued by Lyxor International Asset Management (LIAM), a French management company authorized by the Autorité des marchés financiers and placed under the regulations of the UCITS (2014/91/EU) and AIFM (2011/61/EU) Directives. Société Générale is a French credit institution (bank) authorised by the Autorité de contrôle prudentiel et de résolution (the French Prudential Control Authority).
The products mentioned are the object of market-making contracts, the purpose of which is to ensure the liquidity of the products on the London Stock Exchange, assuming normal market conditions and normally functioning computer systems. Units of a specific UCITS ETF managed by an asset manager and purchased on the secondary market cannot usually be sold directly back to the asset manager itself. Investors must buy and sell units on a secondary market with the assistance of an intermediary (e.g. a stockbroker) and may incur fees for doing so. In addition, investors may pay more than the current net asset value when buying units and may receive less than the current net asset value when selling them. Updated composition of the product’s investment portfolio is available on In addition, the indicative net asset value is published on the Reuters and Bloomberg pages of the product, and might also be mentioned on the websites of the stock exchanges where the product is listed.

Prior to investing in the product, investors should seek independent financial, tax, accounting and legal advice. It is each investor’s responsibility to ascertain that it is authorised to subscribe, or invest into this product. This document is of a commercial nature and not of a regulatory nature. This material is of a commercial nature and not a regulatory nature. This document does not constitute an offer, or an invitation to make an offer, from Société Générale, Lyxor Asset Management (together with its affiliates, Lyxor AM) or any of their respective subsidiaries to purchase or sell the product referred to herein.

Research disclaimer

Lyxor International Asset Management (“LIAM”) or its employees may have or maintain business relationships with companies covered in its research reports. As a result, investors should be aware that LIAM and its employees may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Please see appendix at the end of this report for the analyst(s) certification(s), important disclosures and disclaimers. Alternatively, visit our global research disclosure website

Conflicts of interest

This research contains the views, opinions and recommendations of Lyxor International Asset Management (“LIAM”) Cross Asset and ETF research analysts and/or strategists. To the extent that this research contains trade ideas based on macro views of economic market conditions or relative value, it may differ from the fundamental Cross Asset and ETF Research opinions and recommendations contained in Cross Asset and ETF Research sector or company research reports and from the views and opinions of other departments of LIAM and its affiliates. Lyxor Cross Asset and ETF research analysts and/or strategists routinely consult with LIAM sales and portfolio management personnel regarding market information including, but not limited to, pricing, spread levels and trading activity of ETFs tracking equity, fixed income and commodity indices. Trading desks may trade, or have traded, as principal on the basis of the research analyst(s) views and reports. Lyxor has mandatory research policies and procedures that are reasonably designed to (i) ensure that purported facts in research reports are based on reliable information and (ii) to prevent improper selective or tiered dissemination of research reports. In addition, research analysts receive compensation based, in part, on the quality and accuracy of their analysis, client feedback, competitive factors and LIAM’s total revenues including revenues from management fees and investment advisory fees and distribution fees.

Connect with us on linkedin