Non-transparent ETF would focus on climate change

Veridien's ETF would invest in small-, mid- and large-cap stocks

A new fund adviser, Veridien Global Investors, is planning to launch a non-transparent ETF focused on climate action.

The Veridien Climate Action ETF, which would be listed on NYSE Arca, plans to invest in US and foreign stocks of companies that “make a substantial contribution to mitigating climate change”, according to an initial prospectus filed this month with the Securities and Exchange Commission.

The ETF is non-transparent in that it would not disclose its holdings daily, instead providing a “verified intraday indicative value”.

Expense information for the ETF was not listed in the filing.

The fund would be advised by Toroso Investments and subadvised by Veridien. Portfolio managers would be Veridien’s Ariane Mahler and Paulus Ingram and Toroso’s Qiao Duan and Charles Ragauss.