It has committed to pay a minimum annual contribution to Girls Who Code of $25,000 between 2021 and 2025, according to the press release, while NWF will get a minimum $30,000 per year. Oceana will be paid at least $50,000 annually for five years after the fund lists.
The causes are chosen based on both emerging investment ideas and diversification aims, according to Wendy Wong, head of sustainable investment partnerships at New York Life.
“We first start by identifying an emerging trend—a compelling investment thesis,” she said. “Then, similar to how investors diversify their investment portfolio, we wanted to diversify the causes we support.”
The IQ Healthy Hearts ETF (HART) launched earlier this year in alignment with the American Heart Association and has about $7 million in assets. It has returned about 13% since its January debut.
This article was provided by Bloomberg News.