IndexIQ, a New York Life Investments company, has announced the expansion of its Dual Impact family of thematic investment strategies with the launch of three new funds: IQ Engender Equality ETF (NYSE Ticker: EQUL), IQ Clean Oceans ETF (NYSE Ticker: OCEN), and IQ Cleaner Transport ETF (NYSE Ticker: CLNR).
The firm writes that each fund has been launched in alignment with the mission of a non-profit leader, and reflects initiatives, research and programs of that organisation.
Additionally, New York Life Investments has committed to making a contribution to each non-profit equal to 10 per cent of the respective fund’s management fee so they can continue to have a direct impact around a key cause.
The IQ Engender Equality ETF (EQUL) was developed using analysis from Equileap, the leading provider of gender equality data, EQUL is designed to offer investors exposure to companies that have demonstrated a commitment to gender equality. Contributions will be made to Girls Who Code, a leading non-profit dedicated to closing the gender gap in technology, on an ongoing basis.
The IQ Cleaner Transport ETF (CLNR) was developed in alignment with the National Wildlife Federation (“NWF”), the largest conservation organization in the US, CLNR 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 IQ Clean Oceans ETF (OCEN) was developed in alignment with Oceana, the largest international advocacy organization focused solely on ocean conservation, OCEN offers exposure to global companies that help to protect and/or achieve a cleaner ocean through reduced pollution and increased resource efficiency.
OCEN and CLNR’s underlying indexes were both 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.
These funds join the IQ Healthy Hearts ETF (HART), which launched earlier this year in alignment with the American Heart Association (AHA) and was the first fund in the family of Dual Impact solutions.
Yie-Hsin Hung, CEO, New York Life Investment Management, says: “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. 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.”
