Impact Shares, the first 501(c)(3) nonprofit exchange-traded fund (ETF) platform, will join the National Association for the Advancement of Colored People (NAACP) in ringing the Closing Bell at the New York Stock Exchange (NYSE) today to highlight the launch of the NAACP Minority Empowerment ETF (NYSE Arca: NACP).
The ceremony marks the first time in the nation’s premier civil rights organization’s 110-year history that it will ring the NYSE bell. It also symbolizes a significant milestone in the evolution of the African-American community, 400 years after the first enslaved Africans arrived on the shores of Virginia.
“ETFs represent the means by which communities can support those companies that invest in us and are concerned about our issues,” said NAACP President and CEO Derrick Johnson.
“NACP serves as a capital markets bridge, allowing investors to align their equity portfolios with companies that have a strong track record of supporting the NAACP’s mission of racial and ethnic equality,” said Ethan Powell, CEO of Impact Shares. “We are grateful for our continued partnership with the NAACP, and excited to commemorate the organization’s 110-year legacy with this historic bell-ringing.”
Prior to the bell-ringing ceremony, Impact Shares and the NAACP will host a panel discussion on “Using Capital Markets to Create Social Equity.” Moderated by Reggie Browne, senior managing director at Cantor Fitzgerald & Co., the discussion will address the growth of socially responsible investment strategies and the impact the private sector can have on influencing racial justice. Other panel speakers include Jim Casselberry, CIO of the Sarowitz Family, LLC, and Lauren Simmons, former stock trader for Rosenblatt Securities.
NACP began trading on July 19, 2018, and tracks the Morningstar Minority Empowerment Index, built in collaboration with Morningstar and Sustainalytics. The index 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.
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 NAACP
Founded in 1909, the NAACP is the nation's oldest and largest nonpartisan civil rights organization. Its members throughout the United States and the world are the premier advocates for civil rights in their communities. You can read more about the NAACP’s work and our six “Game Changer” issue areas at www.naacp.org.
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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.
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, or the NAACP. Nor is SIDCO affiliated with Morningstar or Sustainalytics.