BALTIMORE- Nov. 29, 2017 -To
coincide with National Giving Day, the NAACP is joining with Dallas -based
non-profit Impact Shares as they file for their initial exchange traded funds
(ETFs), that will creatively allow investors to invest in social justice.
Impact Shares will file for two
ETF's designed in conjunction with and to benefit the NAACP and the YWCA
Metropolitan Chicago. Expected to launch in early 2018, the Minority
Empowerment ETF and the Women's Empowerment ETF, reflect the respective
organizations' values and social mission.
"We are talking about
providing the opportunity to invest in social justice to not simply investors
but members and supporters who see the contributions of the NAACP as valued
contributions to our society," said Derrick Johnson, NAACP President and
CEO. "In the 21st Century we can be strategic about how we spend and
invest our dollars in positive change and ETF's are a great way to begin a
cultural shift in our communities."
The Impact Shares NAACP Minority
Empowerment ETF (NYSE Arca: NACP), will invest in companies that empower
minorities through hiring, pay and promotion practices as well as their
products and services. The concept was originally developed with support
from The Rockefeller Foundation's Zero Gap initiative.
"The NACP ETF offers
socially conscious investors the opportunity to evolve business practices and,
in some cases, their products and services, to promote economic development in
communities of color," said Marvin Owens, Senior Director of the NAACP
Economic Department. "By investing in the NACP ETF, we can reward
companies that empower minorities and give our members another tool to have
their voices heard."
The Impact Shares YWCA Women's
Empowerment ETF (NYSE Arca: WOMN), will hold stocks of companies that empower
women, including promoting women's health and women's advancement initiatives.
"WOMN, collaboration with
index provider Equileap, offers an investment solution that will look for
companies that are leaders in empowering women both in and out of the
workplace," said Dorri McWhorter, CEO of YWCA Metropolitan Chicago. "We
hope female and male investors alike seize the opportunity to encourage
companies to more proactively address the issues impacting women today."
"Giving Tuesday is the
perfect time to announce Impact Shares' unique partnerships with such highly
regarded leaders known for empowering minorities and celebrating
diversity," said Ethan Powell, CEO of Impact Shares. "We are
committed to working with nonprofit organizations that want to harness the
power of capital markets to catalyze change in corporate America while providing
investors with an equity market rate of return."
To achieve its mission, Impact
Shares, itself a 501(c) (3) charity, will donate the net advisory proceeds it
receives from each ETF back to the related partner nonprofit, creating
meaningful social impact engagement with corporate America and providing the
investing public with more targeted, credible social impact investing options.
"In addition to our
partnerships with NAACP and YWCA, we will be expanding our product suite with
ETFs that appeal to investors who care deeply about causes including access to
affordable healthcare and housing, a variety of specific health issues, the
arts and veterans," Powell added.