The Rockefeller Foundation provides $3 million
in operating capital to Impact Shares, the first 501(c)(3)
nonprofit exchange-traded fund platform on the market
Impact Shares, the first 501(c)(3) nonprofit exchange-traded
fund platform, is pleased to welcome Marvin Owens, former senior
director of economic development at the National Association for
the Advancement of Colored People (NAACP), to its team as Chief
Engagement Officer.
Amid the ongoing fight for racial equality in the U.S., the
Impact Shares NAACP Minority Empowerment ETF (NYSE: NACP) has come
to the forefront as an important tool for investors to promote
racial equity in the private sector. The Rockefeller Foundation has
provided a $3 million operating credit line to Impact Shares to
help support Impact Shares’ mission, including NACP. According to
Morningstar, there are over 500 ESG-oriented ETFs on the market,
and Barron’s states NACP is the first and only fund focused
exclusively on supporting people of color and addressing racial
equality1. Created in collaboration with the NAACP, the fund is
designed to provide exposure to U.S. companies with strong racial
and ethnic diversity policies in place, empowering employees
irrespective of their race or nationality.
“This is a watershed moment for investing in social advocacy,”
notes Powell. “Under Marvin’s leadership and with the ongoing
financial support from partners such as The Rockefeller Foundation,
investors will continue to have the opportunity to build long-term
engagement on key social issues such as racial equality, and
ultimately make meaningful change in the private sector.”
To help make NACP more accessible to investors, Impact Shares
has agreed to reimburse NACP for certain expenses excluded from
Impact Shares' advisory fee in order to reduce NACP's net expense
ratio from 0.75% to 0.49% (see below for complete expense
information). Impact Shares donates the net advisory proceeds it
receives from the ETF back to the NAACP. The fund has generated an
11.18% return year to-date through September 30, 2020 and a 32.11%
cumulative return since inception (based on NAV).
Complete standard performance data for NACP as of 9/30/20 is as
follows (NAV/MKT price) 20.92%/21.51% for 1-year period;
13.48%/13.66% annualized since inception. The performance data
quoted represents past performance. Past performance does not
guarantee future results. The investment return and principal value
of an investment will fluctuate so that an investors shares, when
sold or redeemed, may be worth more or less than their original
cost and current performance may be lower or higher than the
performance quoted. For performance data current to the most recent
month end, please call 844-GIVE-ETF.
“The capital markets are a powerful tool for investors to raise
their voice on social issues,” adds Owens. “I look forward to
working more closely with investors to challenge corporate America
to follow through on their public commitments and make tangible
changes to stand against racial discrimination.” The fund seeks
investment results that generally correspond to the price and yield
performance of the Morningstar Minority Empowerment Index, built in
collaboration with Morningstar and Sustainalytics. For more
information on the fund, visit: impactetfs.org.
Impact Shares has contractually agreed to reimburse NACP for
certain expenses excluded from the unitary advisory fee through at
least October 28, 2021. This contract may not be terminated without
the action or consent of the Fund’s Board of Trustees. The
following table shows the total operating expenses that investors
in NACP pay each year as a percentage of the value of an investment
in NACP:
Management Fee
0.75%
Distribution and Service (12b-1)
Fees
0.00%
Other Expenses
0.36%
Total Annual Fund Operating
Expenses
1.11%
Waivers and Reimbursements
(0.62)%
Total Annual Operating Expenses
after Waivers and Reimbursements
0.49%
About Impact Shares
Impact Shares is an ETF issuer and investment manager that is
creating a new and innovative platform for clients seeking maximum
social impact with market returns. Impact Shares' goal is to build
a capital markets bridge between leading nonprofits, investors and
corporate America to direct capital and social engagement on
societal priorities. Impact Shares is a tax-exempt nonprofit
organization under Section 501(c)(3) of the Internal Revenue Code.
For more information about Impact Shares, visit impactetfs.org.
About The Rockefeller Foundation
The Rockefeller Foundation advances new frontiers of science,
data, and innovation to solve global challenges related to health,
food, power, and economic mobility. As a science-driven
philanthropy focused on building collaborative relationships with
partners and grantees, The Rockefeller Foundation seeks to inspire
and foster large-scale human impact that promotes the well-being of
humanity throughout the world by identifying and accelerating
breakthrough solutions, ideas, and conversations. For more
information, sign up for our newsletter at
rockefellerfoundation.org and follow us on Twitter
@RockefellerFdn.
Shares of any ETF are bought and sold at market price (not NAV)
may trade at a discount or premium to NAV and are not traditionally
redeemed from the Fund. Brokerage commissions will reduce
returns.
Statements in this communication may include forward-looking
information and/or may be based on various assumptions. The
forward-looking statements and other views or opinions expressed
herein are made as of the date of this publication. Actual future
results or occurrences may differ significantly from those
anticipated and there is no guarantee that any particular outcome
will come to pass. The statements made herein are subject to change
at any time. Impact Shares disclaims any obligation to update or
revise any statements or views expressed herein.
Risk Information:
Investing involves risk, including the possible loss of
principal. Narrowly focused investments and investments in smaller
companies typically exhibit higher volatility. Investments in
commodities are subject to higher volatility than more traditional
investments. The Fund may invest in derivatives, which are often
more volatile than other investments and may magnify the Fund’s
gains or losses. The Fund is non-diversified.
Carefully consider the Fund’s investment objective, risk
factors, and expenses before investing. This and additional
information can be found in the Impact Shares statutory and summary
prospectus, which may be obtained by calling 855-267-3837, or by
visiting ImpactShares.com. Read the prospectus carefully before
investing.
Impact Shares NAACP Minority Empowerment ETF is distributed by
SEI Investments Distribution Co. (SIDCO), which is not affiliated
with Impact Shares Corp., the Investment Adviser for the Fund.
1 Morningstar, “The Number of Funds Considering ESG Explodes in
2019”, March 30, 2020. Barron’s, “This Tiny ETF Is Fighting Racism
and Beating the Market”, June 19, 2020
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201026005276/en/
Sales Contact: Impact Shares 844-GIVE-ETF
info@impactetfs.org
Or
Media Contact: Gregory FCA for Impact Shares Caitlyn Foster,
484-798-7730 impactshares@gregoryfca.com
Nahal Mottaghian for The Rockefeller Foundation 332-216-8771
Nmottaghian@rockgound.org
Impact Shares Naacp Mino... (AMEX:NACP)
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Impact Shares Naacp Mino... (AMEX:NACP)
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