BlackRock

Gotta have faith: The rise of #religious #ETFs

There is a growing number of faith-based exchange-traded funds that attempt to marry moneymaking with religious principles. In the spring, Silicon Valley-based Inspire Investing launched its Global Hope Large Cap and its Small/Mid Cap Impact ETFs, pledging to apply Christian values as a screen. Those products join Global X’s Catholic Values ETF, which applies the investment guidelines of the U.S. Conference of Catholic Bishops. Inspire’s funds have garnered a respectable $80 million in their first six months and CEO Robert Netzly believes that biblically responsible investing will be the fastest-growing investment niche over the next decade. Investment giant Blackrock offers Islamic-oriented ETFs that are shariah-compliant. There are not any specifically Jewish-themed ETFs at the moment, but this can change easily. Juggling core values and full-on capitalism, however, remains a delicate business.

Dana Gas restructures sukuk

Dana Gas will pay $70 million in cash to bondholders and offers aditionally 8% coupon on remaining debt in order to buy time to restructure its sukuk. The company is facing difficult times as it missed a bond redemption on its sukuk that has matured on October 31. In order to fix this problem, Dana has made an agreement with adhoc committee of creditors, and thus earned time to restructure its finances.

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