Alternative Investments/ESG: New York Life Floats ETFs For Gender Equality, Clean Oceans, Cleaner Transport
The three thematic ETFs meet investor demand for ESG approaches.
IndexIQ, the New York Life Investments company, announced Wednesday the launch of three new ETFs. The IQ Engender Equality ETF (EQUL), IQ Clean Oceans ETF (OCEN), and IQ Cleaner Transport ETF (CLNR) represent an expansion of IndexIQ’s Dual Impact family of thematic investment strategies. (ETF Trends)
Each fund is aligned with a non-profit organization that leads that particular cause.
New York Life Investments will contribute to each nonprofit an amount equal to ten percent of the respective fund’s management fee to make a direct impact around a key cause.
OCEN and CLNR’s underlying indexes have been developed in collaboration with Candriam, a New York Life Investments company and pioneer in ESG investing and indexing. EQUL was developed in collaboration with Equileap and Solactive, a leading index provider.
IQ Engender Equality ETF (EQUL)
The IndexIQ fund will invest in companies that are committed to gender equality.
Contributions will be made to Girls Who Code, a leading nonprofit dedicated to closing the gender gap in technology, on an ongoing basis.
IQ Clean Oceans ETF (OCEN)
The IndexIQ fund offers exposure to global companies that help protect and/or achieve a cleaner ocean through reduced pollution and increased resource efficiency.
The fund has been developed in alignment with Oceana, the largest international advocacy organization focused solely on ocean conservation.
IQ Cleaner Transport ETF (CLNR)
The IndexIQ fund provides exposure to select global companies that support the transition to more environmentally efficient transportation technologies, such as electric vehicles, bicycles, motor vehicle parts manufacturers, and multi-passenger transportation.
The fund has been developed in alignment with the National Wildlife Federation, the largest conservation organization in the U.S.
Yie-Hsin Hung, CEO, New York Life Investment Management, said: “Today investors are demanding more when it comes to ESG investment approaches, and they’re demanding more from the companies in which they’re investing. Meeting these demands takes nothing short of a revolution in ESG investing, and that is exactly what we have sought to do with our Dual Impact suite. This is not simply a group of funds based on screens or factors, but rather it is one built on the belief that the same funds that have the potential to positively impact a portfolio can also have a direct and positive impact on our communities.”
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