Seeking long-term better risk-adjusted returns, Japan's Government Pension Investment Fund (GPIF), the world's largest pension fund with approximately $1.5 trillion in assets under management as of June 2020, incorporates not only financial factors but also environmental, social, and governance (ESG) factors in its investment decisions and now tracks the Morningstar Developed Markets ex-Japan Gender Diversity Index. The Morningstar Developed Markets ex-Japan Gender Diversity Index is designed to provide exposure to developed market companies exhibiting strong gender diversity policy and practices, leveraging the Equileap Gender Equality Scorecard™. Investor demand for ESG has increased drastically in the last decade; Morningstar research shows global assets in sustainable funds hit a record high of $1.2 trillion as of September 2020.