A faith-based investment firm partnered with S&P Dow Jones Indices to create a new index and exchange traded fund (ETF) that will cater to evangelical Christian investors.
Bountiful Financial and S&P Dow Jones collaborated to create the S&P 500 Christian Values Screened Index, which the firms announced as the first in a suite of indices tailored for evangelical Christian investors.
“We are proud to empower Christian investors around the world to live with greater integrity by aligning their investments with their values,” said David Friedman, head of Christian investment solutions at Bountiful Financial. “The launch of this flagship Index in collaboration with S&P DJI underscores our commitment to democratizing faith-driven investing.”
The new Christian values index fund will screen out companies based on their involvement in activities like abortion, stem cell research, adult entertainment, predatory lending, recreational cannabis, gambling, tobacco and violent video games.
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Once the index excludes companies that are ineligible on those grounds, sector adjustments are made to keep the index aligned with the broader S&P 500 to reduce tracking error.
The investment firm is planning to launch ETFs and other financial products that track the S&P 500 Christian Values Screened Index later this year.
Bountiful Financial CEO Reid Steadman said the new index is the “product of a year of thoughtful collaboration with S&P DJI,” adding that, “In a world where values matter more than ever, Christian investors deserve tools that support both their financial and spiritual goals.”
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Bountiful Financial has previously created several thematic index funds, including indexes oriented around the values of the Roman Catholic and Latter-Day Saints faiths.
Cameron Drinkwater, chief product officer at S&P Dow Jones Indices, said that the firm “is pleased to collaborate with Bountiful Financial to expand our faith-based indices, which are designed for market participants seeking tools to align their religious beliefs with their investing strategies.”
“The S&P 500 Christian Values Screened Index joins our market-leading faith-based benchmark suite, highlighting S&P DJI’s ongoing commitment to this space,” Drinkwater added.
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