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ALPS launches ETF dedicated to LGBT equality and inclusion

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ALPS has launched the Workplace Equality Portfolio (EQLT), the first exchange-traded fund focusing on US corporations with progressive lesbian, gay, bisexual and transgender (LGBT) workplace policies.

The fund seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of its underlying index, the Workplace Equality Index.
 
“The Workplace Equality Portfolio is a timely new offering that allows all investors to access companies that embrace equality principles as a foundation in their human talent strategy,” says John Roberts, a partner at Denver Investments. “We see growing demand from investors to include the stocks of these forward-looking corporations in their investment strategies. Based on the firm’s experience managing LGBT-screened portfolios over the past 15 years, we know this approach is desired by many of our client and advisor relationships.”
 
The fund reflects the Workplace Equality Index, which was created by Denver Investments at the request of its clients and incepted in 2001. The firm has a longstanding track record of managing portfolios for individuals and foundations that choose to allocate investments in the securities of companies that support the LGBT community.
 
Companies included in the Workplace Equality Index must score 100 per cent on the Human Rights Campaign Corporate Equality Index or have verifiable characteristics that would earn them such a score. The screening criteria generally include mandatory language in a company’s equal employment opportunity statement prohibiting discrimination based on sexual orientation and gender identity, offering health benefits to same-sex partners or spouses of employees, along with other corporate benefits and privileges. 

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