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Inspire adds two new actively managed faith-based ETFs

Impact investment firm Inspire Investing has expanded its suite of biblically responsible ETFs with the launch of a pair of actively managed funds targeting the large and mid-cap segments of the US equity market.
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Impact investment firm Inspire Investing has expanded its suite of biblically responsible ETFs with the launch of a pair of actively managed funds targeting the large and mid-cap segments of the US equity market.

Robert Netzly, CEO of Inspire Investing

Robert Netzly, CEO of Inspire Investing.

The Inspire Faithward Large Cap Momentum ETF (FEVR US) and Inspire Faithward Mid Cap Momentum ETF (GLRY US) have listed on NYSE Arca and come with expense ratios of 0.85%.

The funds are sub-advised by Faithward Capital, a Pennsylvania-based asset manager helping financial advisors and institutions align their investments with Christian values.

The ETFs utilize a dual screening process that first addresses matters of faith before filtering based on technical factors.

In the first part of this process, the initial universe of stocks is screened according to Inspire’s faith-based and sustainability requirements to identify companies which it describes as “businesses of blessing.”

Any company with operations linked to abortion, alcohol, gambling, tobacco, pornography, or human rights violations is excluded. Companies that promote or advocate for LGBT+ communities are also removed.

The remaining constituents are then assigned an ESG rating based upon Inspire Investing’s Impact Score methodology which covers several ESG categories including corporate governance, data security and privacy, environmental stewardship, innovation, labor practices, marketing ethics, political action, renewable energy, social impact, and supply chain. Impact Scores range from -100 to +100 and only firms with a score greater than zero will make it through to the next stage.

In the second stage of the process, Faithward Capital deploys a proprietary screening process that uses both technical and fundamental analysis to identify between 40 and 50 stocks that exhibit share price momentum and high growth potential based on financial health, earnings trends, valuation, risk, and relative strength.

The Inspire Faithward Large Cap Momentum ETF is derived from an initial universe of companies with market capitalizations greater than $10 billion, while the Inspire Faithward Mid Cap Momentum ETF is based on companies with market caps between $3bn and $10bn.

Robert Netzly, CEO of Inspire Investing, commented, “We have continued to see an increase in demand for faith-based investments, even in the midst of a pandemic. We are humbled to be able to launch two biblically responsible options with Faithward Capital for those investors looking to incorporate active management in their portfolios.”

Jay Peroni, Senior Portfolio Manager at Faithward Capital, added, “We are truly excited to partner with Inspire to launch these ETFs to the masses. Our team is thrilled to be able to better serve our clients using our active biblically responsible investment management strategies while also expanding the biblically responsible investing universe.”

The new launches bring the total number of biblically responsible ETFs offered by Inspire to eight, collectively housing around $650 million in assets under management.

Most recently, the firm introduced the world’s first actively managed faith-based ETF in July – the Inspire Tactical Balanced ESG ETF (RISN US). RISN invests in US large-cap stocks and contains a risk-management overlay that shifts into defensive assets when the equity market outlook is unfavourable.

The post Inspire adds two new actively managed faith-based ETFs first appeared on ETF Strategy.

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Tesla rival Stellantis unveils its lowest price electric vehicles

The Big Three automaker unveils details on its low-priced electric vehicles that will be delivered over the next two years.

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October 18, 2023

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Electric vehicle manufacturers have realized that the prices of their cars are making it more difficult for many of them to compete against makers of lower-priced internal combustion engine vehicles.

Tesla saw its third quarter deliveries fall below market estimates, prompting Elon Musk's company in early October to lower the list price of the Model 3 from $40,240 to $38,990 and its industry leading seller Model Y has recently fallen from $47,740 to $43,990.

Related: Tesla Japanese rivals debut concept vehicles in latest challenge

Tesla top rival Ford already cut the price of its all-electric Mustang Mach-E by up to $4,000 in May and its F-150 Lightning by about $10,000 in July.

Stellantis revealing entry-level electric cars

Stellantis  (STLA) - Get Free Report has been busy revealing low-priced entry-level electric vehicles that it plans to begin selling in 2024 to compete with French automaker Renault in Europe as well as Chinese EV companies. The company in August said it would unveil a second new entry-level Fiat-branded electric vehicle in July 2024 that will be priced less than €25,000 or about $27,390. The company, however, didn't say when the vehicle might be sold in the U.S.

The company said in June that it will deliver the new Citroën e-C3 electric car to Europe in early 2024. The Citroën e-C3 was expected to have a range of 186 miles on a charge and would be among lowest priced EVs on the market. Stellantis had already said it would bring Fiat's best-selling EV, the Fiat 500e, to the U.S. market in 2024 to compete against Tesla and the growing U.S. EV market.

Citroën e-C3 all-electric subcompact hatchback.

Stellantis

Big Three automaker unveils its low-priced electric vehicles

Stellantis on Oct. 17 revealed its updated all-new, all-electric Citroën e-C3, which is its first European-designed, European-built B-segment, or subcompact, EV hatchback. The new vehicle is now estimated to have a 199-mile range, charging 20% to 80% of capacity in as little as 26 minutes. The EV accelerates 0 to 62 mph in 11 seconds with a provisional top speed of 84 mph for everyday driving and traffic in urban and suburban areas.

The company estimates that the vehicle will be priced below £23,000 ($27,900) in the UK. No word yet if the Citroën e-C3 will roll out in the U.S.

In 2025, Stellantis will offer a Citroën e-C3 with a 200 km- or 124-mile range and priced at €19,990 or $21,068, the company said. That price would be lower than any new EV sold in the U.S. today. General Motors  (GM) - Get Free Report Chevy Bolt's lowest manufacturer suggest retail price is $26,500, while the 2024 Nissan  (NSANY) - Get Free Report Leaf has a starting price of $28,140.

The new Citroën e-C3 will be available in three versions You, Plus and Max. The You version's standard equipment includes LED headlights, Citroën Advanced Comfort Suspension, Active Safety Brake, the new Citroën Head Up Display, ‘My Citroen Play with Smartphone Station’ for infotainment, electric door mirrors, auto lighting, rear parking radar, rear spoiler, cruise control, manual air conditioning, and six airbags.

Plus vehicles include 17-inch alloy wheels, Citroën’s two-tone paint with contrasting roof, decorative roof rails, front and rear skid plates, the 10.25-inch color touchscreen with smartphone mirroring, Citroën Advanced Comfort Seats, auto wipers, power-folding and heated door mirrors, leather-effect steering wheel, 60/40 folding second-row seat, and driver seat adjustment.

The premium Max version additionally has LED rear lights, rear privacy glass, enhanced seat textiles, automatic air conditioning, 3D navigation, wireless charging, rear camera, electrochrome rear-view mirror, and rear power windows.

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Lightning Labs releases Taproot Assets alpha, bringing stablecoins to Bitcoin

Taproot Assets is “how we bitcoinize the dollar and the world’s financial assets,” says Ryan Gentry, director of business development at Lightning…

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October 18, 2023

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Taproot Assets is “how we bitcoinize the dollar and the world’s financial assets,” says Ryan Gentry, director of business development at Lightning Labs.

Bitcoin layer-2 infrastructure firm Lightning Labs has released the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoins and real-world assets to be issued on the Bitcoin and Lightning Network.

The current version, Taproot Assets v0.3, will provide a “feature-complete developer experience” to issue, manage and explore stablecoins and other assets on the Bitcoin blockchain, according to Ryan Gentry, head of business development at Lightning Labs.

“We believe this new era for Bitcoin will see a myriad of global currencies issued as Taproot Assets, and the world's foreign exchange transactions settled instantly over the Lightning Network.”

“With this release, developers can issue financial assets on-chain in a scalable manner,” Lightning Labs stated on Oct. 18 in a separate post. “Today marks a new era of multi-asset bitcoin.”

This version of Taproot Assets will work by routing through existing Bitcoin liquidity on the Lightning Network.

Gentry says the integration will extend Bitcoin’s network effects and move it one step closer toward “bitcoinizing the dollar.” He added:

“This is how we make bitcoin the global routing network for the internet of money. This is how we bitcoinize the dollar and the world's financial assets.”

Gentry described developer demand for stablecoin applications on Bitcoin as “overwhelming” — particularly given that some stablecoin issuers hold more United States Treasuries than the likes of Germany, South Korea.

“[It] signifies the importance of these assets globally, and gives a sense of scale for the global user demand,” Gentry added.

Related: BitVM wasn’t created to make Bitcoin a pseudo-Ethereum, says developer

Nearly 2,000 Taproot Assets were minted on testnets over the last several months in the lead up to the mainnet alpha launch, according to Gentry.

Alpha launches typically mean the development isn’t in its final state. Lightning Labs said the alpha tag indicates that they expect the community to test it for potential bugs.

Bitcoin Drivechains (through Bitcoin Improvement Proposal-300), Botanix Labs’ Spiderchain and the BitVM are among the other developments in the Bitcoin ecosystem looking to expand Bitcoin’s capabilities.

Magazine: Recursive inscriptions — Bitcoin ‘supercomputer’ and BTC DeFi coming soon

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Putin, Xi In Beijing Pitch For ‘Alternative World Order’ As Biden Departs A Burning Middle East

Putin, Xi In Beijing Pitch For ‘Alternative World Order’ As Biden Departs A Burning Middle East

As a Rabobank note has highlighted, the main…

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October 18, 2023

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Putin, Xi In Beijing Pitch For 'Alternative World Order' As Biden Departs A Burning Middle East

As a Rabobank note has highlighted, the main theme on display during Xi Jinping and Vladimir Putin's Wednesday talks in Beijing was one of "common threats" bringing the two "dear friends" closer, according to a press readout. Observed Rabobank earlier in the day, "Meanwhile, as the Middle East rages and the West recoils, Xi Jinping welcomes Russia’s Putin and a host of Global South leaders, ex-India, to his Beijing Belt and Road Forum to talk about what an alternative world order might look like. The ‘global’ Western press mostly failed to even cover it."

Putin said at a media briefing following the meeting with his Chinese counterpart, "We discussed in detail the situation in the Middle East." He added: "I informed Chairman (Xi) about the situation that is developing on the Ukrainian track, also quite in detail." The Russian leader then emphasized: 

"All these external factors are common threats, and they strengthen Russian-Chinese interaction."

AFP/Getty Images

CNN subsequently called it a "pitch for a new world order" at a moment crisis has gripped the Middle East.

Yet, almost simultaneously, Bloomberg reported that Biden is overseeing a fast unfolding disaster in the Middle East:

President Joe Biden’s 7.5-hour trip to Tel Aviv signaled full US backing for Israel but fell short on another key goal: winning over Arab leaders.

Amid growing signs the conflict may be spinning out of control, Biden made plain that the US will protect its ally, sending a clear message to rivals in the region like Iran to stay out of the fight. With one US aircraft carrier in the area and another on the way, Biden promised a new package of “unprecedented support.”

The Bloomberg headline aptly reads, "Biden’s Whirlwind Israel Trip Fails to Calm Fears of Wider Middle East Conflict." At this time, Lebanon, Jordan, and Egypt are on edge - with Western and Saudi embassies reducing staff and issuing travel advisories. 

Meanwhile, related to Xi's Belt and Road (the purpose of the gathering in Beijing), Putin praised the potential for it to usher in a "fairer, multi-polar world" as Moscow and Beijing grow closer based on "deep friendship": 

In his speech at the opening ceremony, Putin hailed Xi’s flagship foreign policy Belt and Road Initiative as “aiming to form a fairer, multi-polar world,” while touting his country’s deep alignment with China.

Russia and China share an “aspiration for equal and mutually beneficial cooperation,” which includes “respecting civilization diversity and the right of every state for their own development model” – he added, in an apparent push back against calls for authoritarian leaders to promote human rights and political freedoms at home.

This is at a moment Putin is "wanted" by the International Criminal Court (ICC) and shunned and sanctioned by the West, while at the same time Global South countries are expressing growing anger at Israel's unrelenting bombing of the Gaza Strip, as the Palestinian death toll soars into the thousands.

Directly related to this, a Thursday UN Security Council resolution brought by Brazil and seeking a ceasefire in Gaza was shot down, given the US was the only "no" vote.

Also missed by the mainstream media was the following pro-China sentiment expressed by a top Palestinian official over a week ago:

China will soon lead the world, and it supports the “Palestinian position, whatever it may be,” according to Fatah’s Central Committee member Abbas Zaki.

In a public address that aired on Palestine TV on Sept. 29, Abbas Zaki called on the United States to “reconsider its stance” with regard to Israel or risk becoming irrelevant. The Israelis, he said, were “sons of bitches,” “murderers” and agents of instability, while the Palestinians are “messengers of peace.”

“I know that there is serious change in Europe and even in the United States,” said Zaki.

But, he added, “do not forget the emerging camp, which is on your side—the Chinese camp. China is going to lead the world, and it proclaims: ‘There can be no stability and progress without the liberation of Palestine, with East Jerusalem as its capital.'”

Putin too, has expressed more sympathies with the Palestinian side, days ago warning Israel of the "catastrophic" death toll its attacks on Gaza will result in. He has also held calls with Arab leaders, seeking to mediate peace and a possible two-state solution.

Tyler Durden Wed, 10/18/2023 - 19:40

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