Invesco Ltd. has launched a sustainability version of its second biggest exchange-traded fund as asset managers experience a surge in demand for environmental, social and governance-focused investments.
The Invesco ESG S&P 500 Equal Weight ETF will invest in companies considered leaders in ESG metrics, Invesco said in a statement Wednesday. The move adds an ESG focus to the asset manager’s longstanding ETF that tracks the S&P 500, which has $31 billion of assets, according to John Hoffman, Americas head of ETFs and indexed strategies at Invesco.
“There is demand around building better, more balanced portfolios and doing that with a tilt toward ESG,” Hoffman said.
Investors are increasingly looking to incorporate sustainability metrics into their portfolios. BlackRock Inc. recently launched ESG-focused versions of its fixed-income and equity ETFs. Last month, Invesco debuted an ESG fund tracking the Nasdaq.
The new fund will start by holding 185 stocks on an equal-weight basis. Apple Inc., Facebook parent Meta Platforms Inc. and Tesla Inc. are among companies that will be excluded from the fund initially.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
