A news release by the Oklahoma City, Oklahoma, company said the newest members of its ETF family are the FaithShares Baptist Values Fund (FZB) and FaithShares Lutheran Values Fund (FKL).
The FaithShares Funds allow investors to put money in the market in one security in accordance with the tenets of their faith, while still getting exposure to the broad market. 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, the news announcement said.
The company recently unveiled FaithShares Catholic
Values Fund (FCV), FaithShares Christian Values Fund (FOC) and FaithShares
Methodist Values Fund (FMV) (see FaithShares Launches ETFs Addressing Religious Values).
“We created these funds to meet the needs of investors who want to participate in the potential of the stock market, yet be good stewards of their money,” said Thompson S. Phillips Jr., president of FaithShares. “As an ETF, each of our funds will include 100 stocks of large, well-known companies but specifically exclude those considered to be ’objectionable industries’ by a specific denomination.”
Annually, FaithShares Advisors, the management company of FaithShares, will give a minimum of 10% of its net income to a ministry associated with the respective denominations.
Investors can purchase the funds through their investment adviser or discount broker, the company said.