JURY Human Rights Global High Dividend Index
A rules-based index grounded in human rights law
The JURY Human Rights Global High Dividend Index is the first launched under The Justice Company’s governing framework. It is designed to demonstrate how disciplined income-focused equity selection can be combined with a rigorous, legally grounded human rights framework.
The index is calculated and administered by Solactive, a global index provider headquartered in Frankfurt. The index applies clearly defined eligibility criteria to a global universe of equities, integrating dividend discipline with exclusion rules derived from international law.
This framework reflects a simple premise: investment strategies can and should be constructed with clarity on exposure to human rights violations.
INDEX PROVIDER
Solactive
UNIVERSE
Developed Markets Large & Mid Cap Equities
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SELECTION APPROACH
Dividend & Quality Filters + Human Rights Screening
REVIEW FREQUENCY
Semi-Annual
Index Design Objective
The index is designed to identify companies that meet defined dividend and quality criteria, while excluding those linked to genocide, war crimes, crimes against humanity, apartheid, severe occupation-related abuses, and other serious violations of international human law.
The result is a transparent, rules-based index construction process that prioritises clarity, consistency, and accountability in how companies are included or excluded.
Our objective is straightforward: to enable market participation within defined legal boundaries.
How the Index
is Constructed
The JURY Human Rights Global High Dividend Index is calculated and administered by Solactive AG.
The Index focuses on Developed Markets large- and mid-cap equities, targeting a high dividend yield with sustainability filters.
The construction process begins with a broad, investable global equity universe, constructed in four structured stages.
Further information on the index methodology and composition, including PR, NTR and TR index variants, is available at:
Solactive JURY Human Rights Global High Dividend Index PR
Solactive JURY Human Rights Global High Dividend Index NTR
Solactive JURY Human Rights Global High Dividend Index TR
Note, by following the above links, you will leave The Justice Company website and enter a third-party website operated independently of The Justice Company. The Justice Company is not responsible for the content, accuracy or availability of external websites.
Universe Definition
The starting universe consists of developed market large- and mid-cap equities drawn from the Solactive GBS Developed Markets Large & Mid Cap USD Index PR. This construction aims for liquidity, broad sector representation, and a stable foundation for applying screening criteria.
Dividend and Financial Criteria
From this universe, securities must meet defined dividend and financial criteria:
Dividend Discipline
- Must have paid dividends in the last year
- Five-year dividend trend must not be negative
- Entry yield must be at least 1.25× the yield of the broader universe
- To remain in the index, dividend yield must exceed the universe yield
Quality and Stability
- Must not fall below the 10th percentile (5th percentile for existing constituents) in:
- GFS Quality Style Factor
- Earnings Per Share Variability Metric
Payout Ratio Constraint
- Entry: payout ratio > 0 and ≤ 1
- Existing constituents permitted up to 1.5
Momentum Discipline
- Securities in the lowest 5th percentile with negative momentum are excluded
Human Rights Screening
Preliminary constituents are then reviewed under The Justice Company’s exclusion framework by Ethical Screening.
Severe Violations
- Violations of the Geneva Conventions
- Apartheid, arbitrary detention, ethnic cleansing, genocide, war crimes
Civil and Human Rights
- Severe restrictions on civil liberties
- Systemic discrimination or denial of equal rights
Territorial and Resource Violations
- Illegal resource exploitation in occupied territories
- Military occupation and illegal settlement activity
Weapons Involvement
- Direct involvement in controversial weapons
Weighting and Risk Controls
Final index constituents are constructed using a transparent, rules-based weighting framework designed to preserve diversification and implementation discipline.
Portfolio Size
- Target 100 stocks
Weighting Approach
- Weighted by adjusted free-float market capitalisation
Issuer Cap
- Individual holdings capped at 5%
Sector Cap
- Sector exposure capped at 40%
- Excess weight is redistributed iteratively to preserve diversification
Ongoing Monitoring and Governance
Screening is not static.
Companies within the eligible universe are subject to ongoing monitoring. Where new credible evidence indicates that a defined exclusion threshold has been breached, eligibility is reassessed.