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.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
The high court's decision rebuffing Alpine Securities marks a setback for a broader challenge to Wall Street's reliance on self-regulatory organizations.
Arax acquires a boutique firm's $4 billion RIA business in Michigan as Steward Partners continues its Southwestern expansion.
Wealth management is a key focus for a new service tier.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
