A US investment firm has launched two exchange traded funds targeting conservative evangelical Christians who wish to exclude companies which have ‘any degree of participation’ in activities ‘that do not align with biblical values’.
Those values exclude lesbian, gay, bisexual and transgender (LGBT) lifestyles, as well as abortion. The ETFs additionally exclude companies involved in gambling, alcohol, pornography and rights violations, such as working with terrorist-sponsoring, or oppressive regimes.
The funds were launched by Inspire Investing, a company based in California, with a third fixed income ETF registered for launch at a later date.
The three ETFs are the Inspire Global Hope Large Cap, Small/Mid Cap Impact and the Corporate Bond Impact ETFs. The three ETFs have management fees of 0.30%, with total fund operating expenses coming up to 0.61%.
They are registered on the New York Stock Exchange.
On its website the firm says the ETFs ‘endorse companies making a positive contribution to the world through blessing their customers, communities and the world’ while excluding ‘bad actor companies…operating at odds to biblical values’.
‘There is huge demand for low-cost investing aligned with biblical values,’ said Robert Netzly, CEO of Inspire, according to the Financial Times.
‘We love our neighbours in the LGBT community but our investors want to invest according to conservative values.’