Skip navigation
Bloomberg
pink-ribbon-breast-cancer.jpg Courtney Hale/iStock/Getty Images Plus

Simplify’s New PINK Health-Care Fund Will Give Its Profits Away

Simplify Asset Management has launched a new fund, the Simplify Health Care ETF (PINK), that has pledged to donate its fee profits to Susan G. Komen for the Cure.

 

(Bloomberg) -- To help its new ETF succeed in a crowded field of health-care products, Simplify Asset Management is trying a novel approach: Giving all the profits away.

Simplify Asset Management has launched a new fund, the Simplify Health Care ETF (ticker PINK), that has pledged to donate its fee profits to Susan G. Komen for the Cure, the largest breast cancer research group in the U.S., according to a statement.

The actively managed ETF, which will be distributed by Foreside Financial Services, will invest in about 50 health care companies to start, according to Brian Kelleher, Simplify’s chief revenue officer. It will have an expense ratio of 0.5% and will be overseen by Michael Taylor.

“Breast cancer impacts one in eight women in the U.S. at some point in her lifetime,” said Paul Kim, Simplify’s chief executive officer, who added that PINK should provide investors “a way to grow their portfolios while simultaneously supporting an incredibly worthy cause.”

“PINK is very personal for me,” Kim said in an interview, since his grandmother died from the disease at age 66. “She never told me she was battling cancer -- she was so quick to share her love but kept her suffering and pain to herself.” 

The new fund will be competing with more than 50 U.S. health-care ETFs, including State Street’s Health Care Select Sector SPDR ETF (XLV), Vanguard Health Care ETF (VHT) and Fidelity Health Care ETF (FHLC). 

TAGS: Philanthropy
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish