NEW YORK--(BUSINESS WIRE)--UBS Investment Bank today announced the launch of the InsightShares LGBT Employment Equality ETF, the first in the series of exchange traded funds ("ETFs") issued under the "InsightShares" brand. This cause-focused ETF offers the opportunity to invest in a socially conscious strategy. Created and offered by Exchange Traded Concepts, this ETF offers exposure to the UBS LGBT Employment Equality Index.
"InsightShares creates an incredible opportunity for investors to align their portfolios with their philanthropic values," said Richard Cea, Executive Director of Exchange Traded Products at UBS. "We're thrilled to support socially conscious strategies, and look forward to increasing our impact by donating a portion of the revenues generated by this ETF to charities through the UBS Optimus Foundation."
InsightShares LGBT Employment Equality ETF (Ticker: PRID)
Created and offered by Exchange Traded Concepts, PRID is designed to track the performance of the UBS LGBT Employment Equality Index (Ticker: UBSLGBTT). The UBS LGBT Employment Equality Index is provided by UBS AG and is designed to track the price movements of U.S. companies that provide LGBT equality through their company and employment policies as measured by their score in the Human Rights Campaign Foundation's Corporate Equality Index®. For inclusion in the UBS LGBT Employment Equality Index, the companies must meet minimum thresholds for liquidity and profitability, as well as have attained a rating of 85-plus on the Corporate Equality Index®.
For more information, please visit www.insightshares.com.
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. The operational structure of the Group is comprised of our Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. UBS's strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates, in order to generate attractive and sustainable returns for its shareholders. All of its businesses are capital-efficient and benefit from a strong competitive position in their targeted markets.
UBS is present in all major financial centers worldwide. It has offices in 52 countries, with about 34% of its employees working in the Americas, 34% in Switzerland, 18% in the rest of Europe, the Middle East and Africa and 14% in Asia Pacific. UBS Group AG employs approximately 61,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
UBS Investment Bank
The Investment Bank provides corporate, institutional and wealth management clients with expert advice, innovative solutions, execution and comprehensive access to international capital markets. It offers advisory services and provides in-depth cross-asset research, along with access to equities, foreign exchange, precious metals and selected rates and credit markets, through its business units, Corporate Client Solutions and Investor Client Services. The Investment Bank is an active participant in capital markets flow activities, including sales, trading and market-making across a range of securities.
Carefully consider the InsightShares LGBT Employment Equality Exchange Traded Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's prospectus, which may be obtained by visiting www.insightshares.com. Investors should read it carefully before investing or sending money.
Investing involves risk, including possible loss of principal. The Fund’s return may not match or achieve a high degree of correlation with the return of the Index. To the extent the Fund’s investments are concentrated in or have significant exposure to a particular issuer, industry or group of industries, or asset class, the Fund may be more vulnerable to adverse events affecting such issuer, industry or group of industries, or asset class than if the Fund’s investments were more broadly diversified. Small and mid-capitalization companies may be more vulnerable to adverse business or economic events than larger, more established companies. Issuer-specific events, including changes in the financial condition of an issuer, can have a negative impact on the value of the Fund. The Fund is not actively managed and therefore the Fund would not sell shares of an equity security unless that security is removed from the Index or the selling of shares is otherwise required upon a rebalancing of the Index. Diversification may not protect against market risk. Holdings are subject to change.
Shares are bought and sold at market price not net asset value (NAV) and are not individually redeemed from the Fund. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time when the NAV is typically calculated. Brokerage commissions will reduce returns.
Exchange Traded Concepts, LLC ("ETC") serves as the investment advisor, and Vident Investment Advisory, LLC ("VIA") serves as the sub-advisor to the Fund. The Fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Exchange Traded Concepts, LLC or any of its affiliates.
VIA is registered as an investment adviser with the Securities and Exchange Commission (SEC) and only conducts business in states where it is properly registered or is excluded from registration requirements. Registration is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability.
The UBS LGBT Employment Equality Index (the "Index") is an index developed by UBS based in part on a company scoring methodology and resulting data obtained and used under license from the Human Rights Campaign Foundation.
The marks “UBS,” “InsightShares” and associated logos are trademarks of UBS and have been licensed to ETC for use in connection with the Fund. The UBS mark and logo are registered in the United States and other countries. The Index is owned by UBS and has been licensed to ETC for use in connection with the Fund. UBS owns or otherwise has the rights to license all intellectual property and other property rights to the Index, which are being used by ETC under license from UBS.
The Index and other information disseminated concerning the Index are for informational purposes only, are provided on an “as is” basis, and are not intended for trading purposes. The Index is not an investment product. Neither ETC nor the Fund is operated by UBS or Solactive AG ("Solactive"), the calculation agent for the Index. Neither UBS nor Solactive sponsors the Fund or makes any representation or gives any warranty, express or implied, regarding the advisability or possible benefits of purchasing the Fund or any other financial product. Clients should undertake their own due diligence and seek appropriate professional advice before purchasing any financial product, including the Fund.
Neither UBS nor Solactive or their respective licensors makes any warranty, express or implied, as to, without limitation, (i) the correctness, accuracy, reliability or other characteristics of the Index, (ii) the results to be obtained by any person or entity from the use of the Index for any purpose, or (iii) relating to the use of the Index and other information covered by the Fund, including, but not limited to, express or implied warranties of merchantability, fitness for a particular purpose or use, title or non-infringement. Neither UBS nor Solactive warrants that the Index will be uninterrupted and they are not under any obligation to continue compiling, calculating, maintaining or sponsoring the Index.
The Index (including the concept, methodology, formulas and algorithms therefor) has been designed and is compiled, calculated, maintained and sponsored without regard to any financial products that reference the Index (including the Fund), any licensee, sub-licensor or sub-licensee of the Index, any client or any other person. UBS may independently issue and/or sponsor other indices and products that are similar to and/or may compete with the Index and the Fund. UBS may also transact in assets referenced in the Index (or in financial instruments such as derivatives that reference those assets), including those which could have a positive or negative effect on the value of the Index and the Fund.
Neither UBS nor Solactive shall bear any responsibility or liability, whether for negligence or otherwise, with respect to (i) any inaccuracies, omissions, mistakes or errors in the concept, methodology, formulas or algorithms for, or computation of, the Index (and shall not be obligated to advise any person of and/or to correct any such inaccuracies, omissions, mistakes or errors), (ii) the use of and/or reference to the Index by UBS or any other person in connection with any financial product or otherwise, or (iii) any economic or other loss which may be directly or indirectly sustained by any customer, client or other person dealing with any such financial product or otherwise. Any customer, client or other person dealing with such financial products does so, therefore, in full knowledge of this disclaimer and can place no reliance whatsoever on UBS nor bring claims, actions or legal proceedings in any manner whatsoever against it.
“HUMAN RIGHTS CAMPAIGN FOUNDATION” and relevant marks/name of the Corporate Equality Index® (collectively, the HRCF Marks") are service marks of HUMAN RIGHTS CAMPAIGN FOUNDATION or one of its affiliates (collectively, “HUMAN RIGHTS CAMPAIGN FOUNDATION”). HUMAN RIGHTS CAMPAIGN FOUNDATION has no relationship to UBS, other than the licensing of the Corporate Equality Index® ("CEI") and the HRCF Marks for use in connection with the UBS LGBT Employment Equality Index and is not a party to any transaction contemplated hereby.
The rules of the CEI may be amended by HUMAN RIGHTS CAMPAIGN FOUNDATION (the “Index Creator”). An amendment to the rules may result from, without limitation, a change to the construction or calculation rules for the CEI or from the Index Creator determining that a change to the rules is required or desirable in order to update them or to address an error, omission or ambiguity. No assurance can be given that any such amendment would not be prejudicial to the investors.
The ratings of the corporations that are included in the CEI are subject to the provisions in the rules of the CEI. Neither HRCF nor any of its affiliates is obliged to publish any information regarding the CEI other than as stipulated in the rules of the CEI.
The UBS LGBT Employment Equality Index is not in any way sponsored, endorsed, sold or promoted by the HUMAN RIGHTS CAMPAIGN FOUNDATION. The HUMAN RIGHTS CAMPAIGN FOUNDATION makes no warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the CEI in the Index, the figure at which the Index stands at any particular time on any particular day or otherwise, or the advisability of or results to be obtained by investing in or trading the UBS LGBT Employment Equality Index. The CEI is compiled, maintained and calculated by the HUMAN RIGHTS CAMPAIGN FOUNDATION for purposes that are independent of, and not in any way related to, investments and nothing in the CEI shall constitute financial advice, recommendations, or any approval or endorsement by the HUMAN RIGHTS CAMPAIGN FOUNDATION of any use of the CEI (or the companies rated therein) in the Index. The HUMAN RIGHTS CAMPAIGN FOUNDATION shall not be liable (whether in negligence or otherwise) to any person for any error in the CEI and the HUMAN RIGHTS CAMPAIGN FOUNDATION shall not be under any obligation to advise any person of any error therein. The HUMAN RIGHTS CAMPAIGN FOUNDATION may, in its sole and absolute discretion, administer the CEI and make changes to the CEI at any time. Such changes may impact the value of the Index. The HUMAN RIGHTS CAMPAIGN FOUNDATION shall bear no liability or responsibility for any losses or reduced earnings which may result from any changes to the criteria pursuant to which the CEI is created or any changes to any rating of any company rated under the CEI at any time.
The HUMAN RIGHTS CAMPAIGN FOUNDATION is not a partner of UBS, nor do they operate any joint venture with respect to the Index or otherwise, and has not participated in any way in the analysis, construction, review, or appropriateness for investing of any entity in the Index. The HUMAN RIGHTS CAMPAIGN FOUNDATION has not published, reviewed or approved this document and accepts no responsibility or liability for its contents or use.
UBS specifically prohibits the redistribution or reproduction of this material in whole or in part without the prior written permission of UBS and UBS accepts no liability whatsoever for the actions of third parties in this respect.
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