FYI: Two Vanguard ETFs that aim to invest using environmental, social and governance (ESG) criteria are getting rid of 29 stocks, including gun maker Sturm Ruger, fast food purveyor Yum Brands, private prison operator Geo Group, and media company News Corp.
That’s according to this report at the Financial Times, which cites a letter sent to holders of the funds. Vanguard told shareholders the companies were included incorrectly in an ESG index designed by FTSE Russell. (News Corp. owns Dow Jones, the publisher of Barron’s.)
It’s obvious why the two ETFs – the Vanguard ESG US Stock ETF and the Vanguard ESG International Stock ETF – would want to ditch investments in Sturm Ruger. The funds’ marketing materials say they exclude investments in companies that profit from weapons, the newspaper reports.
Regards,
Ted
https://www.marketwatch.com/articles/vanguard-esg-funds-drop-nearly-30-stocks-51565730194?mod=mw_latestnews
