Yet another fund firm is throwing its hat into the actively managed exchange-traded fund space. Today, Huntington Asset Advisors, Inc. revealed that it is launching actively-managed ETFs via its new ETF family, Huntington Strategy Shares.
The Huntington EcoLogical Strategy ETF (NYSE Arca: HECO) is the first of two Huntington Strategy Shares planned to launch. The new offering focuses on ecologically-focused companies and products, which are positioned to take advantage of continuing changes in laws, consumer behavior and business investments. The ETF holds stocks from companies large and small across a widely-diversified set of industries.
According to Brian Salerno, EcoLogical Strategy ETF manager, the launch was five years in the making. “We’ve been managing separate accounts in the same discipline for five years,” he told Money Management Executive.
Salerno said the ETF currently counts Whole Foods, BorgWarner and NextEra Energy, Inc. Other coal and oil-related companies will not be included in the portfolio because the firm views them as “damaging” to the environment, according to Salerno.