Our weekly roundup of new fund launches.
VanEck’s first green bond ETF
Seeking ESG-focused investors, VanEck announced the launch of its first green bond ETF listed in the U.S..
The new fund, VanEck Vectors Green Bond ETF (GRNB), seeks to track the S&P Green Bond Select Index (SPGRNSLT). To be included in the index, the bond must be supported by the Climate Bonds Initiative, a non-profit that promotes investment in the low carbon economy.
The fund carries a 0.4% expense ratio.
“We believe there's demand for green bonds from ESG-focused investors,” said Ed Lopez, VanEck’s head of ETF Product Management and Marketing. The new offering comes to market as “green bonds” appear poised for significant growth, the firm said.
Global X launch infrastructure ETF
The newest ETF from Global X Funds seeks to capitalize on infrastructure spending.
The Global X U.S. Infrastructure Development ETF (BATS: PAVE), with 0.47% expense ratio, tracks the Indxx U.S. Infrastructure Development Index, which was launched on the same day. The ETF holds companies involved in infrastructure projects.
Instead of providing exposure to existing infrastructure assets, the new fund focuses on companies that can potentially benefit from the $5 trillion currently funded infrastructure repair projects.
"In the past few years, we've seen bipartisan agreement that the United States needs to heavily invest in rebuilding our national infrastructure,” said Jay Jacobs, director of research at Global X. “Our strategies focus on the companies that should be heavily relied upon to maintain, update, and build new infrastructure projects."
Oppenheimer pursues high net worth families
OppenheimerFunds is offering a new training program for advisers to better serve the high-net-worth clients, the firm announced.
Oppenheimer is partnering with Legacy Capitals, provider of advice and education to wealthy families and their advisors, to offer more than 20 workshops for the firm’s advisors, bankers and RIAs working with wealthy clients.
"Families of wealth in particular require highly customized solutions,” said John McDonough, head of OppenheimerFunds’ Distribution and Marketing. “Our partnership with Legacy Capitals is a natural extension of the robust practice management tools we offer."
Morgan Stanley launches new portfolios
Morgan Stanley Wealth Management announced the launch of two sustainable investing model portfolios with reduced account minimums of $10,000.
These new portfolios – Investing with Impact Access Balanced and Investing with Impact Access Equity – will provide investors with diversified solutions to help align financial goals with personal values.
“Sustainably invested assets now account for more than one out of every five dollars under professional management in the U.S.,” said Hilary Irby, head of Morgan Stanley’s Investing with Impact Initiative.
CBOE lists on Bats BZX Exchange
COBE announced an additional listing on Bats BZX Exchange. The option market inventor will be dually-listed on NASDAQ and Bats under the ticker symbol CBOE.
The announcement came a week after CBOE completed its acquisition of Bats Global Markets on Feb. 28. Shares of COBE common stock have been listed on NASDAQ since the company’s IPO in 2010.
"CBOE Holdings' additional listing on BZX demonstrates our confidence in Bats as a great listing venue," said Edward Tilly, Chairman and CEO, CBOE Holdings.