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