Cathie Wood Got A New Ace Up Her Sleeve

  • 3 years ago
exchange traded funds

Cathie Wood's Ark Files for ETF That Resembles ESG Fund
ARK Transparency ETF would exclude alcohol, banking, chemicals, confectionary, tobacco, oil and gambling stocks among others.

Ark Investment Management, led by the high-profile fund manager Cathie Wood, has proposed to the SEC an ETF that seems to constitute its version of an environmental-social-governance fund.

The ARK Transparency ETF is based on an index “designed to track the price movements of stocks of approximately 100 companies that receive high scores for transparency,” the company said in a Securities and Exchange Commission filing.

The scoring will be based on metrics including “the company’s adoption of certain transparency standards, the company’s involvement in certain legal proceedings, and the company’s reputation.”

Further, the index will exclude alcohol, banking, chemicals, confectionary, fossil fuel transportation, gambling, metals, mineral, natural gas, oil, and tobacco.
https://www.thestreet.com/investing/cathie-wood-ark-plans-etf-based-on-esg

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