February 24, 2021
Investors interested in a disruptive growth opportunity can consider a specialized ETF strategy that targets Special Purpose Acquisition Companies, or SPACs.
In the recent webcast,
A New ETF Strategy for the SPAC Surge, Jennie Dong, Head of SPACs, NYSE, explained that SPACs raise capital via an IPO with the purpose of using proceeds to acquire an operating business.
SPACs go public through the typical IPO process. The sponsor is typically an institution or seasoned industry executive and generally focuses on an industry or geography. The full cash raised in IPO is placed in a trust account for the acquisition. If no acquisition takes place, the SPAC will liquidate and return funds to IPO investors.
February 24, 2021
On Wednesday, Humankind Investments, a quantitatively driven asset manager specializing in socially responsible investments, announced the launch of its first ETF, the
Humankind US Stock ETF (NYSE Arca: HKND). The fund seeks to provide broad exposure to US equities with a focus on companies that contribute the greatest value to society, as measured by Humankind’s proprietary index.
This fund launch marks the first in a series of socially responsible ETF products from Humankind Investments, a firm started by CEO and former Vanguard analyst James Katz in 2019 with the goal of taking a more quantitative and holistic approach to ESG investing. Katz and his team bring 50+ years of combined experience to the firm, with previous roles at leading asset management firms and academic institutions. Since its founding, Humankind has attracted over $100 million in investor assets.