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Thursday, July 27, 2023

A $200MM-AUM Shop's Flagship Turns Five

Reported by Neil Anderson, Managing Editor

The folks at a $200-million-AUM (as of yesterday) ESG shop in Texas are celebrating their flagship fund's wood anniversary.

Ethan Powell
Impact Shares
Founder and President
July 18 was the fifth birthday of the Impact Shares NAACP Minority Empowerment ETF (NACP on the NYSE Arca). The passively managed fund is one of Impact Shares' three funds and is a series of Impact Shares Trust I. Dallas-based Impact Shares is a seven-year-old, non-profit ETF issuer that specializes in teaming up with nonprofits to create bespoke indexes and ETFs.

NACP's inception date was July 18, 2018. As of yesterday, the fund had $47 million in AUM. It comes with an expense ratio of 49 basis points.

Morningstar, Inc. serves as NACP's index provider, and the fund is designed to track the Morningstar Minority Empowerment Index. Impact Shares, Corp. is the fund's investment advisor, and Impact Shares president Ethan Powell has PMed the fund since inception.

Sustainalytics (part of Morningstar) is NACP's ESG research provider. The NAACP is the partner nonprofit to the fund.

"At Impact Shares, we are steadfast in our conviction that financial investments can be a catalyst for transformative social change," Powell states. "By aligning their capital with their principles, our investors are shaping a future where financial prosperity and social progress may seamlessly converge, empowering individuals and communities alike to thrive and prosper."

NACP's other service providers include: Bank of New York Mellon as custodian, dividend disbursing agent, and transfer agent; Ernst & Young LLP as independent accounting firm; and SEI Investments Distribution Co. as distributor. 

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