ENGINE NO. 1 TRANSFORM CLIMATE ETF (Actively-managed)
ENGINE NO. 1 TRANSFORM 500 ETF (Passively-managed)
Analysis
New ETF provider files their first amendment, fleshing out in more detail a couple of their initial offerings. As a new entrant, they've selected their funds carefully, including one index tracking, one actively-managed with ESG themes.
The new angle to both these funds is that the Adviser will actively participate in proxy voting to encourage ESG discipline in portfolio companies. Interesting!
I expect fixed income and global strategies to follow shortly.
This is a company to watch out for, as it is made up mostly of ex-iShares veterans, including members of the board, who successfully built out the original family of BGI iShares ETFs.
Tickers: TBD
Exchange: Cboe BZX
Expense ratio: TBD
Original filing date: November 6, 2020
Second filing date: April 23, 2021
Effective date: TBD
Listing Date: TBD
CUSIP: TBD
Active: Yes and No
Adviser: Fund Management at Engine No. 1 LLC
Portfolio Manager: Molly Landes
Administrator: Brown Brothers Harriman & Co.
Fund accountant: Brown Brothers Harriman & Co.
Transfer agent: Brown Brothers Harriman & Co.
Custodian: Brown Brothers Harriman & Co.
Distributor: Foreside Fund Services, LLC
Legal counsel: Schulte Roth & Zabel LLP
External accounting: Cohen & Company, Ltd.
Compliance: TBD
Prospectus is here.
INVESTMENT PROCESS
ENGINE NO. 1 TRANSFORM 500 ETF
Investment Objective:
Seeks investment results that closely correspond, before fees and expenses, to the performance of an index composed of large-capitalization U.S. equities.
Seeks investment results that closely correspond, before fees and expenses, to the performance of an index composed of large-capitalization U.S. equities.
Index / Benchmark: Morningstar US Large Cap Select Index
Index Constituents: 503
Investment Strategy / Index Methodology here.
Will track the Index, but also actively participate in proxy voting to encourage ESG discipline.
ENGINE NO. 1 TRANSFORM CLIMATE ETF (Actively-managed)
Investment Objective:
Long-term growth of capital.
Investment Strategy:
Universe: Micro, small, mid, large cap global equity securities.
Invest in companies that the Adviser thinks will meet demands of climate chnge by transitioning to more sustainable business practices.
Key criteria:
- Leadership in sustainability
- Business practices
- Business model
Analysis
- Top-down and bottom up analysis.
- Proprietary analysis instead of ESG ratings.
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