Double ETF launch for Principal
US asset manager Principal has announced the listing of two strategic beta ETFs, the Principal Healthcare Innovators Index ETF and the Principal Millennials Index ETF, on Nasdaq.
The Principal Healthcare Innovators Index ETF tracks the Nasdaq US Healthcare Innovators Index. It provides exposure to early stage small cap healthcare companies, primarily biotechnology and life science, which have the potential to create cures for cancer, develop new medical technologies, or spearhead other medical advances.
The Principal Millennials Index ETF tracks the Nasdaq Global Millennial Opportunity Index. It provides exposure to companies specialising in social media, digital media, technology, healthy lifestyles, travel and leisure.
“More and more, people want to invest in strategies they understand, whether that is a cause they support or their own lifestyle,” said Paul Kim, managing director of ETF Strategy for Principal Global Investors.
Both ETFs will be managed by Jeff Schwarte, Mark Nebelung and Paul Kim.
“It is our goal to provide investment options that connect with people while offering enhanced performance,” he added.
With this double launch, Principal now tallies five ETFs.
Principal group currently manages over $572bn (€504bn) in assets of which $402bn (€354.7bn) are managed by Principal Global Investors.