This report by UBS looks at the state of women in the world, seeking to understand the remaining barriers to attaining gender equality and progress thus far. It focuses on gender-lens investments, looking at how investors can continue to align their capital intentionally in ways that dislodge the barriers that women face from achieving their full potential. The report breaks down the concept of gender-lens investing into three areas: Investment for women, in women, and by women. These three areas represent the flow of capital. They intersect with four interrelated areas that represent investment sectors, as well as levers of change: education, health, financial inclusion and wealth, and entrepreneurship.