One of the world’s leading investment management firms announced this week its plans to follow through on earlier promises to exclude gun-related products from certain funds offered to investors.
As Reuters reported, BlackRock Inc. was among numerous companies to respond to February’s school shooting in Parkland, Florida, with policy changes meant to de-emphasize firearms.
In March, the New York-based firm released a broad overview of the direction it planned to take. The announcement this week offered additional details.
BlackRock investors reportedly received an email advising them that the latest line of exchange-traded funds will exclude both manufacturers of firearms and retailers with a significant percentage of revenue coming from gun sales.
Such criteria are also expected to appear in certain pension plans, according to Bloomberg.
The first of the two new funds will become active later this month. The iShares MSCI USA Small-Cap ESG Optimized ETF is set to begin trading as early as Monday with an emphasis on companies with a small market cap. – READ MORE