Alternative Investments/ESG: Alger Debuts ESG-Focused Growth Equity ETF
The non-transparent, actively managed ETF from Alger will invest in 30 or less growth stocks.
Fred Alger Management, LLC has launched the Alger Weatherbie Enduring Growth ETF (NYSEARCA: AWEG), a vehicle suited for investors looking for quality growth stocks that also score well on ESG parameters. The new ETF is a non-transparent, actively managed ETF that will run with a portfolio of 30 or fewer growth stocks. (Alger)
The ETF invests in quality companies with innovative business models, strong sales, rapid earnings growth, and an ESG scoring methodology. It is the first ETF from Alger with an ESG focus.
The ETF is managed by Alger and uses ActiveShares® from Precidian Investments, allowing for actively managed investment strategies in an ETF without daily disclosure of holdings. The ETF will be listed on the NYSE Arca.
“We believe the addition of the ESG scoring methodology into our fundamental bottom-up research process is an important and valuable tool for both stock selection and portfolio construction,” said portfolio manager George Dai, Ph.D.
“We continue to field requests from investors that are interested in portfolios that integrate ESG considerations with quality and long-term growth potential,” said Josh Bennett, CFA. “Our team-based approach enables us to create a high-conviction portfolio of what we believe are our best ideas that address both of these important factors.”
The investment team at Weatherbie Capital has received the CFA Institute Certificate in ESG investing.
Related Story: Calamos Launches ETF For Global Sustainable Stocks
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