Hartford Funds launches new ETF designed for the longevity economy
Hartford Funds has launched a new exchange traded fund, the Hartford Longevity Economy ETF (HLGE), which seeks to provide investment results that, before fees and expenses, correspond to the total return performance of the Hartford Longevity Economy Index (LHLGEX).
LHLGEX is designed to generate attractive risk-adjusted returns by investing in companies that comprise industries that reflect certain themes that are expected to benefit from the growth of the ageing population and the substantial buying power it represents.
HLGE is designed to invest in companies included within industries that provide goods and services that reflect longevity economy themes, including ageing in place and home modification, working longer, performance health and comfort, maintaining social connections, financial freedom, staying mobile, human enhancement and leisure, and entertainment.
HLGE is designed to address risks and opportunities within the U.S. longevity economy universe by selecting equity securities of companies exhibiting a favourable combination of priority multi-factor characteristics, including valuation, momentum, and quality. LHLGEX seeks to outperform a capitalisation-weighted universe of US capitalisation equity securities over a complete market cycle.
“Education about the importance of longevity planning has long been a hallmark of the insight Hartford Funds shares with financial professionals, and this product is an extension of that strategy,” says Vernon Meyer, Chief Investment Officer at Hartford Funds. “By leveraging our world-class multi-factor indexing approach and risk management, the Hartford Longevity Economy ETF seeks to deliver a unique and diversifying shareholder experience by tapping into the under-appreciated and persistent value of evolving consumer patterns among the widening senior demographic.
HLGE is listed on the New York Stock Exchange, Arca, and its estimated current expense ratio is 0.44 per cent.