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Products December 9, 2009
FaithShares Launches ETFs Addressing Religious Values
December 9, 2009 (PLANSPONSOR.com) - FaithShares Trust has launched what it says are "the first three exchange-traded funds (ETFs) addressing the investment needs of Christian investors."
Reported by Rebecca Moore
According to a press release, the FaithShares Catholic Values Fund (FCV), FaithShares Methodist Values Fund (FMV), and FaithShares Christian Values Fund (FOC), are tailored to each denomination’s teachings and recommendations for investing. The funds are managed by FaithShares Advisors, LLC.
FaithShares Advisors worked with global index provider
FTSE Group and KLD Research & Analytics, a provider of environmental,
social, and governance (ESG) research and indexes, to create a series of custom
indexes on which the funds are based. The portfolios will be screened to
exclude companies that benefit from gambling, alcohol, tobacco, pornography,
weaponry, and other activities that are included in each denomination’s
published criteria.
“We did a great deal of research on the covenants of
the various denominations in designing these funds,” said Garrett Stevens,
CEO and portfolio manager, in the press release. “The Christian Values
Fund is the most conservative and we feel it answers the needs of
non-denominational church members and other denominations not specifically
represented by our other ETFs.”
FaithShares anticipates launching two additional funds
specifically aligned with the Baptist (FaithShares Baptist Values Fund – FXB)
and Lutheran (FaithShares Lutheran Values Fund – FKL) faiths on December 15.
Annually, FaithShares Advisors will give a minimum of 10%
of its net income to a ministry associated with the respective denominations. The
funds will be rebalanced annually and offer complete transparency about their
holdings.
Investors can purchase the funds through their investment
adviser or discount broker.