First vegan investment fund coming to NYSE

22 August 2019 | Business

Sebastien Malo – An investment fund designed for animal rights advocates and environmentalists, the first of its kind according to financial experts, is set to begin trading on the New York Stock Exchange (NYSE) next month.

VEGN, as it will show on the NYSE's floor, enters the fray of hundreds of funds that consider environmental, social or governance (ESG) factors in their investment decisions but will be unique in going animal cruelty-free, experts said.

US assets under management that follow ESG principles have been surging, representing one in four US dollars last year, up from one in five in 2016, according to The Forum for Sustainable and Responsible Investment, a Washington-based non-profit.

Holding such investments is a way to pressure companies to change their behaviour in order not to miss investors, said Tensie Whelan, who heads the New York University's Centre for Sustainable Business.

‘Interesting offering’

"It's an interesting offering because it's the only one of its kind," she said in a telephone interview.

VEGN, the ticker symbol for the exchange-traded fund (ETF), whose full name is US Vegan Climate Exchange Traded ETF, will exclude stocks among the 500 largest US companies that "rely on animal exploitation", said its creator Beyond Investing.

Selecting companies whose businesses do not test products on animals, or use animal-derived products, fossil fuels, plastic or agrochemicals, has meant tossing out 43% of the top 500 companies, said Claire Smith, the Switzerland based chief executive of Beyond Investing.

The fund's portfolio guidelines mean it doesn't include many pharmaceuticals, materials and consumer-sector stocks, said Smith. – Nampa/Reuters

Similar News

 

Oryx expects better year results

12 hours ago | Business

Jo-Maré Duddy - Oryx Properties expects its earnings per share (EPS), headline earnings per share (HEPS) and profit for the year ended 31 December 2019...

SA's plans to open up power generation welcomed

12 hours ago | Business

South Africa's announcement that it will open up electricity generation to other players, effectively breaking Eskom's monopoly, has been welcomed by many, especially the mining...

New grape varieties from Naute scheme

12 hours ago | Business

NAUTE DAM - The Naute Irrigation scheme in the ||Kharas region plans to introduce new varieties of grapes in order to increase production and extend...

Company news in brief

12 hours ago | Business

First Quantum: Talks on Zambia stake sale stallCopper miner First Quantum Minerals Ltd, which in the past has been in talks with a Chinese company...

Local Chinese businesses feel virus fear

1 day - 17 February 2020 | Business

Ndapewoshali Shapwanale - Namibia should by right feel little concern about the coronavirus outbreak given that the sparsely-populated desert country is 12 000 kilometres from...

Corona: Airlines could lose US$5 bn

1 day - 17 February 2020 | Business

Montreal - The new coronavirus outbreak could mean a US$4-5 billion drop in worldwide airline revenue, the International Civil Aviation Organisation has said.The UN agency...

I didn’t charge my customer VAT, what now?

1 day - 17 February 2020 | Business

Every registered person who carries on a “taxable activity” is by law, required to levy value-added tax (VAT) on their supplies of goods/services, unless exempt...

City's data monopoly is illegal

1 day - 17 February 2020 | Business

The City of Windhoek's intention to monopolise the fibre-optic data network in the capital is unlawful, while its plan to develop its own network infrastructure...

'Local is lekker' delights Gazans

1 day - 17 February 2020 | Business

Guillaume Lavallee and Joe Dyke - Off a bumpy dirt road in Gaza city, a group of children stood outside a half-open factory door, desperate...

Company news in brief

1 day - 17 February 2020 | Business

Eskom to spend millions on severance packagesSouth Africa's Eskom has offered some managers voluntary severance packages, capping costs at R400 million, a communique sent to...

Latest News

Towering above the rest

2 hours ago | Sports

LIMBA MUPETAMIToday is the 24th anniversary of Frank Fredericks’ world indoor 200m record sprint in Liévin, France. He remains the world record-holder with a time...

Oryx expects better year results

12 hours ago | Business

Jo-Maré Duddy - Oryx Properties expects its earnings per share (EPS), headline earnings per share (HEPS) and profit for the year ended 31 December 2019...

Price monster throws consumer a...

12 hours ago | Economics

Consumers had to wait 15 years to kick off a new year with meat in deflation and last month didn't disappoint: Annual meat inflation in...

Teachers share rooms with learners

12 hours ago | Education

Some learners at Sikarosompo Primary School in Kavango West have opted to rather walk between four to 20 kilometres to and from school every day...

N$500k to create jobs

12 hours ago | Labour

The labour ministry only received N$500 000 in its annual budget for employment creation, its executive director Bro-Matthew Shinguadja has confirmed.“We budgeted N$500 000 and...

Cops nab Fishcor's Nghipunya

12 hours ago | Crime

Fishcor CEO Mike Nghipunya is being questioned in connection with the Fishrot bribery saga. Police spokesperson Deputy Commissioner Kauna Shikwambi confirmed Nghipunya's arrest yesterday.Anti-Corruption Commission...

Africa Briefs

12 hours ago | Economics

SA union says wage deal not open for reviewSouth African trade union NEHAWU, one of the country's largest public sector unions, said on Friday that...

SA's plans to open up...

12 hours ago | Business

South Africa's announcement that it will open up electricity generation to other players, effectively breaking Eskom's monopoly, has been welcomed by many, especially the mining...

Don't insult anyone, young or...

12 hours ago | Opinion

Police chief Sebastian Ndeitunga was at the centre of a storm all weekend for remarks he made that he would arrest young people hurling insults...

Load More