Alternative Investments/ESG: Harbor Capital Launches US Equity ETF Focusing On Corporate Culture
The new ETF from Harbor offers investors exposure to “human capital investing.”
Harbor Capital Advisors, Inc. has launched the Harbor Corporate Culture ETF (NYSEARCA: HAPI) to give investors the ability to access the power of a company’s most important asset – its people, based on the premise that “doing the right thing pays and is strongly linked to future investment performance.” (Businesswire)
Harbor Corporate Culture ETF (NYSEARCA: HAPI)
The fully transparent ETF will track the Canadian Imperial Bank of Commerce Human Capital Index, which is constructed around the Human Capital Factor – a concept developed by Irrational Capital, an investment research and development firm that applies workplace behavioral science and data science in an effort to capture the connection between human capital and value creation.
Dan Ariely, Irrational Capital’s Co-Founder said: “Our work has clearly proven that corporate culture and employee motivation are deeply connected with financial performance. Harbor Capital is on the leading edge of developing products that provide access to this new factor.”
Irrational identifies companies (from a stocks universe that is a proxy for the S&P 500) that possess a strong corporate culture, including factors such as motivation, compensation fairness, trust and transparency.
The ETF has an expense ratio of 0.36%.
“We continue to see strong investor demand in the field of human capital investing and are thrilled to partner with world-renowned behavioral scientist Dan Ariely and his colleagues at Irrational Capital on our second Corporate Culture ETF,” said Kristof Gleich, President & CIO, Harbor Capital. “HAPI provides investors with more options to access the Human Capital Factor, which we believe is the most comprehensive measure of employee motivation, and a differentiated investment factor linked to future equity performance.”
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