Global asset manager New York Life Investments announced today the launch of three new ESG-focused thematic funds by its ETF solutions provider company IndexIQ. The new funds, focused on the themes of gender equality, clean oceans, and clean transport expand the company’s Dual Impact family of thematic investment strategies.
The three new funds include the IQ Engender Equality ETF (EQUL), the IQ Cleaner Transport ETF (CLNR), and the IQ Clean Oceans ETF (OCEN), join the recently launched IQ Healthy Hearts ETF (HART), the first thematic dual impact ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More ETF for IndexIQ, created in alignment with the American Heart Association.
Yie-Hsin Hung, CEO, New York Life Investment Management, said:
“Today investors are demanding more when it comes to ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More 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 ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More investing, and that is exactly what we have sought to do with our Dual Impact suite.”
The IQ Engender Equality ETF, developed using analysis from gender quality data provider Equileap, and is designed to offer investors exposure to companies that are committed to gender quality. New York Life Investments will make contributions from the fund’s management fees to non-profit organization Girls Who Code, which aims to close the gender gap in technology.
The IQ Cleaner Transport ETF, developed in alignment with conservation organization National Wildlife Federation (NWF), provides exposure to select global companies that support the transition to environmentally efficient transportation technologies, including EVs, bicycles, motor vehicle parts producers, and multi-passenger transport.
The IQ Clean Oceans ETF, developed in alignments with ocean conservation advocacy group Oceana, offers exposure to global companies that help to protect or achieve a cleaner ocean through reduced pollution and increased resource efficiency.
New York Life Investments stated that it has committed to making a contribution to each nonprofit equal to 10% of the respective fund’s management fee.
Hung, added:
“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. We are thrilled to be working so closely with powerful aligned partners like Equileap, Girls Who Code, Oceana and the National Wildlife Federation. No one can effect change alone but by working together the approach exemplified by these funds can potentially have a meaningful impact for investors as well as our environment, our society, and beyond.”
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