DALLAS--(BUSINESS WIRE)--To coincide with National Giving Day, Impact Shares has filed for its first two exchange traded funds (ETFs), which are being developed in tandem with The National Association for the Advancement of Colored People (NAACP) and the YWCA Metropolitan Chicago. The concept was originally developed with support from The Rockefeller Foundation’s Zero Gap initiative.
Expected to launch in early 2018, the Minority Empowerment ETF and the Women’s Empowerment ETF, reflect the respective organizations’ values and social mission.
The Impact Shares NAACP Minority Empowerment ETF (NYSE Arca: NACP), will invest in companies that empower minorities through hiring, pay and promotion practices as well as their products and services.
“NACP offers socially conscious investors the opportunity to allocate capital to incentivize companies to change their business practices and, in some cases, their products and services, to promote minority communities in the United States,” said Marvin Owens, Senior Director of the NAACP Economic Department. “By investing in NACP, we can reward companies that empower minorities and give our members another tool to have their voices heard.”
The Impact Shares YWCA Women’s Empowerment ETF (NYSE Arca: WOMN), will hold stocks of companies that empower women, including promoting women’s health and women’s advancement initiatives.
“WOMN, a collaboration with index provider Equileap, offers an investment solution that will look for companies that are leaders in empowering women both in and out of the workplace,” said Dorri McWhorter, CEO of YWCA Metropolitan Chicago. “We hope female and male investors alike seize the opportunity to encourage companies to more proactively address the issues impacting women today.”
“Giving Tuesday is the perfect time to announce Impact Shares’ unique partnerships with such highly regarded leaders known for empowering minorities and celebrating diversity,” said Ethan Powell, CEO of Impact Shares. “We are committed to working with nonprofit organizations that want to harness the power of capital markets to catalyze change in corporate America while providing investors with an equity market rate of return.”
To achieve its mission, Impact Shares, itself a 501(c)(3) charity, will donate the net advisory proceeds it receives from each ETF back to the related partner nonprofit, creating meaningful social impact engagement with corporate America and providing the investing public with more targeted, credible social impact investing options.
“In addition to our partnerships with NAACP and YWCA, we will be expanding our product suite with ETFs that appeal to investors who care deeply about causes including access to affordable healthcare and housing, a variety of specific health issues, the arts and veterans,” Powell added.
About Impact Shares
Impact Shares is an ETF issuer and Investment Manager that is creating a new and innovative platform for clients seeking maximum social impact with market returns. Impact Shares' goal is to build a capital markets bridge between Leading Non-Profits, Investors and Corporate America to direct capital and social engagement on societal priorities. Impact Shares is a tax-exempt non-profit organization under Section 501(c)(3) of the Internal Revenue Code.
This press release is for information purposes only and is not intended to constitute, and should not be construed as, an offer to sell securities. The launch of Impact Shares Funds is conditional upon regulatory approval, the likelihood and timing of which cannot be predicted. Before investing, you should carefully consider each Fund’s investment objectives, risks, charges and expenses.
Statements in this communication may include forward-looking information and/or may be based on various assumptions. The forward-looking statements and other views or opinions expressed herein are made as of the date of this publication. Actual future results or occurrences may differ significantly from those anticipated and there is no guarantee that any particular outcome will come to pass. The statements made herein are subject to change at any time. Impact Shares disclaims any obligation to update or revise any statements or views expressed herein.