Placement|Azoria Partners’ fund does not invest in companies whose personnel policy takes diversity, equality and inclusion into account. The fund will hold a press conference at Trump’s Mar-a-Lago mansion on Thursday.
Donald Trump the election as president is now also visible in the world of financial management. A company called Azoria Partners plans to launch an “anti-woke” ETF fund in the United States at the beginning of next year.
The fund intends to invest only in companies that do not take into account the promotion of equality and diversity or other themes of responsibility in their operations, says Financial Times (FT).
The founders of the fund also plan to campaign against “woke” companies. They have chosen coffee giant Starbucks as their first destination. Woke is a catchphrase used by the conservative right wing for promoters of equality, tolerance and diversity.
Starbucksia the campaign against was supposed to be launched on Thursday at Trump’s Mar-a-Lago estate in Florida. Co-founder of Azoria Partners James Fishback told the FT that Americans, regardless of political affiliation, do not want to invest in companies that take equality and diversity into account when hiring.
According to Fishback, hiring quotas hurt shareholders. Starbucks has recently given up the previously valid percentage targets of different races and ethnicities in its workforce.
Etf is an investment fund listed on the stock exchange. Azoria’s anti-woke fund has a list of nearly 40 companies that the fund will not invest in unless they abandon their diversity and equality goals.
According to Fishback, considering ethnic and racial diversity in recruitment is political and hurts shareholders.
According to FT, the fund is like a mirror image of funds that only invest in companies that take environmental and social and governance responsibility into account in their operations, i.e. the so-called ESG principles.
In Finland and Europe, responsibility goals have already become an essential part of the operations of most large listed companies, and companies have announced, for example, ambitious emission reduction goals.