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Linda Pei, President of Pro-Conscience Funds,
the investment advisor to WEMF

Company: Women's Equity Mutual Fund
Years in Business: 10 years for the Fund by Oct. 2003
Education: Ms. Pei received a BA from Brown University, an MA from Wesleyan University, and an MBA in finance from Stanford University.
URL: www.womens-equity.com

Women in Finance
Read this exclusive Up Close & Virtual with Linda Pei an accomplished woman in the financial industry. Not only is she the founder and President of the Women's Equity Fund, she's an advocate for women in business. She shares with us her keys to success, international business experiences and her insights about socially responsible investing.

Ms. Pei is President and Director of Pro-Conscience Funds Inc. Prior to founding the advisor, Ms. Pei headed a management consulting practice working with U.S. banks, investment companies and government entities in Japan, Hong Kong, and the United Kingdom. She has also held positions at Crocker National Bank, Edgar Dunn and Co., and Citibank. She is a board member of Alumnae Resources and the Global Fund for Women Advisory Committee.

Tell us about your company:
Women's Equity Mutual Fund (WEMF) is a socially responsible fund which invests in stocks of publicly-traded companies that have good policies for women. By virtue of our focus on their policies, we hope to encourage companies to break the glass-ceiling and be responsive to their stockholders and stakeholders. Through our Fund, we encourage companies to increase the number of women on their boards, ensure that the top management positions include women and compensate these women appropriately. We want these companies to have programs in place to train and promote women to senior-management positions.

Describe a day in your professional life...
WEMF is available throughout the US but our office is in San Francisco. Besides making sure inquiries regarding the Fund are taken care of and questions that potential shareholders have are answered, we are responsible for meeting various compliance requirements. We have also been actively involved in doing the research in preparation to launch another fund.

How is technology impacting the nature of your work and how you do your work?
Technology has dramatically improved our efficiency. Most of our shareholders now find us through our Website at www.womens-equity.com We are able to answer potential shareholder's questions via email. The Fund's prospectus and application forms are available online as well. Our quarterly newsletter and performance figures used to be mailed out to our shareholders but now they are available on our website which has cut down the turnaroud time.
Was there a lesson or skill learned from your first job that has been invaluable on your career path?
My first job was being a high school chemistry teacher. I think being in front of the classroom taught me to be true to myself. You can't get away being what you think you ought to be in front of kids -- they see through all pretenses. That has been helpful to me in my career.
Has Higher Education been important in your career path? What educational advice would you give to viewers? Tell us the path you took to where you are today.
Graduate school was important to me because it gave me the confidence to do what I do. I know others who are lucky enough to know themselves better early on and know what career they want to pursue; therefore, may not need the extra formal education. I finally had the courage to strike out on my own after I had worked almost 20 years, gradually putting myself in more independent settings. I started out in banking then worked for a consulting company before becoming an independent consultant on my own, and then I finally started the Women's Equity Mutual Fund.
What is your work ethic, and how did it develop? Why do you get up to go to work everyday? What inspires you?
I've always worked hard. I think being Chinese we've always been taught the importance of self-discipline. The Confucian value of responsibility is in our culture. Part of that culture includes down playing of "self" which does not help with self-confidence. I am lucky that I finally figured out what makes me passionate. To align my passion with my work has helped me finally understand that this is the best alternative and made it possible for me to finally be confident enough to do what I've always wanted.
What advice would you give to potential job applicants to help them succeed in the ever-changing global marketplace?
It's important to figure out one's own passion. To be part of the ever-changing global market, one needs to always have an open-mind. Read voraciously and talk to others and be in circles that encourage growth and risk-taking.
Do you have suggestions of any professional associations, trade journals, periodicals, events, etc. that someone pursuing a career in your field should be aware of &/or attend?
Since Women's Equity Mutual Fund is a socially-responsible fund, we are part of the Social Investment Forum. The many journals we read include those in socially responsible investment and activism but we also read other journals involving specific investment instruments and funds. The Socially Responsible Investment community has a conference each year called the SRI in the Rockies and in 2003, the conference will be held in Squaw Valley.
"You can be anything you want to be and do anything you want to accomplish. Just remember, you don't have to do them all at the same time and you don't have to do it alone."

--Linda Pei

Are there any emerging trends in your industry/company that will impact your hiring criteria?
I believe with SEC requirements for all mutual funds to disclose their proxy voting records and guidelines will change the way many mutual funds operate. There will be more accountability, transparency, and disclosure. Because of this trend, there will be a need for more research in the area of 'social responsibility".
Tell us about your international business experience and what advice you'd have for those looking to work abroad?
I've worked in Japan, Hong Kong and London as an independent consultant. While in Japan, I had the benefit of speaking the language and understanding the US financial system so I had many projects using Japanese systems analysts and programmers to help develop solutions for US financial institutions in Japan. I guess it's important to develop a skill that is necessary in the right environment. One needs to do research to figure out what skills are necessary and required in what sector of the market at the right time.
What are the biggest problems for people working abroad? Share your strategies for overcoming these challenges?
Language and culture are important issues for working abroad. I know of those who were successful at jobs overseas but were lonely because it was difficult to find social outlets once work is done for the day. Each situation and each person is different. The important thing is to know yourself and know what makes you happy.
Tell us about your Corporate Diversity/Women's Programs: What is your company doing to educate employees on valuing diversity in the workplace?
Our firm is 100% women-owned. Through our Fund, we encourage companies to increase the number of women on their boards, ensure that the top management positions include women and compensate these women appropriately. We also vote our proxy's to encourage companies to disclose their EEOC data. We want these companies to have programs in place to train and promote women to senior-management positions.
What women have inspired you on your career path? How?
My mother always worked outside the home. As a child growing up, it never occurred to me that I had a choice of not working outside the home. I've been lucky to have met many friends along the way and all continue to be friends with whom I share and am inspired by.
What challenges have you faced in business because you are a woman? Share your strategies for overcoming them.
I'm sure we face many challenges because not only are we women who run this Fund, but this Fund's focus is on women. This is probably why the Fund remains small even though the Fund's performance has been better than that of the benchmark. What we need to do is to educate the public. The goal of a mutual fund is to allow individuals collectively to invest to manage the risk through diversification and improve the viability of better return. The side benefit is that collectively it gives us a voice to influence corporations to hear women's voice. The key is collective -- This Fund can be such a big voice to influence change of behavior toward women. We must become so large that what we say matters. With one million investors this will be a one billion dollar Fund that corporations cannot ignore.
How do you maintain balance in your life? or Do you?!
My children make sure that once I'm not at work, they are the center of all my attention. I think having kids forces one to have the balance in her life.
Share your Favorite Quote/Inspiration or Words of Wisdom:
This is the advice I give to my daughter when she tells me what she wants to be and do when she grows up: "You can be anything you want to be and do anything you want to accomplish. Just remember, you don't have to do them all at the same time and you don't have to do it alone."
Tell us about your latest career-related projects:
We are working on launching an income fund. This fund will focus on community development and increasing capital access to women and minority-owned businesses. We hope to launch it this year.
Thank you Linda Pei, for sharing your insights and expertise with careerwomen.com

View this website for more information:
www.womens-equity.com

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