Alternative Investments/ESG: Gabelli Launches The “Love Our Planet & People (LOPP)” ETF

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LOPP is the first ETF from traditional active manager Gabelli Funds.

Gabelli Funds rolled out the first of its nine Precidian ActiveShares actively managed ETFs. The Love Our Planet & People (LOPP) ETF is an Environmental, Social & Governance (ESG) ETF. (Yahoo Finance)

Love Our Planet & People (LOPP) ETF – Nontransparent; active

Gabelli’s new ETF will charge an expense ratio of 0.90%, only after the completion of one year of operations. However, the fee becomes chargeable in case assets under management exceed $100 million before one year.

The actively managed ETF will not disclose its holdings daily. It uses the Active Shares model offered by Precidian. Holdings would be revealed on a monthly or quarterly basis, with a lag of up to 60 days.

LOPP will emphasize the environmental aspect, or “E” in ESG, placing an emphasis on investing in publicly traded companies with a focus on sustainability. The Fund combines a research-intensive process with social screens and a holistic ESG overlay to deliver returns in a socially responsive manner.

In determining the social responsiveness of a particular company the investment team looks for companies that have initiated and implemented internal policies with respect to certain social issues such as inequality in the workspace and/ or fair treatment of workers.

Thereafter, the fund will select stocks that are selling in the public market at a significant discount to their fair value.

The portfolio managers of the fund are Mr. Christopher J. Marangi, Mr. Timothy M. Winter, Ms. Melody Bryant, and Mr. Jose Garza.

Related Story:  AUM At Global ESG ETFs Surged To Record In 2020 (TrackInsight)

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