BlackRock and Reuters have launched an exchange traded fund (ETF) linked to an index ranking companies’ on inclusive employment.
The iShares Thomson Reuters Inclusion & Diversity ETF tracks the Reuters Global Large/Mid-Diversity and Inclusion, invested in 100 companies scoring highly on ‘diversity, inclusion, people development and news and controversies’, excluding arms manufacturers.
The fund, which has a charge of 0.25%, is the 15th addition to BlackRock’s ESG ETF range and 10th addition to its thematic ETF range, following the firm's launch of a fintech themed ETF last week.
Rachel Lord, head of Europe, the Middle East and Africa at BlackRock said: ‘We are launching this fund at a time when a spotlight is firmly on companies to show what they are doing to improve diversity in their workforce.
‘It is a significant step forward in the evolution of products that harness the power of social change to deliver long-term investment outcomes.’