ARK Investment Management is looking to debut a new ETF that will focus on transparency in companies and shun vice and sectors that run afoul of ESG investing like fossil fuels.
In an SEC filing, Cathie Wood's shop outlines the fund, which looks to be at least 80% invested in stocks in its benchmark Transparency Index, published by Solactive.
"Companies operating in the following industries, as determined by the Index provider, are excluded from the Index: (i) alcohol, (ii) banking, (iii) chemicals, (iv) confectionary, (v) fossil fuel transportation, (vi) gambling, (vii) metals, (viii) mineral, (ix) natural gas, (x) oil, and (xi) tobacco," ARK says in its filing.
If approved, the ETF would be the second that Ark has launched this year. In March, the company started a fund focused on space-related investments, which has risen about 4% since its debut and now has more than $600 million in assets. Meanwhile, the firm’s flagship ARK Innovation ETF (ARKK) is up to $22.5 billion, although it’s down 2% year-to-date -- compared with a gain of more than 20% for the S&P 500.
Submitted September 01, 2021 at 08:43AM by KingTimKap https://ift.tt/3kN9vCh
