Harbor Capital Advisors, Inc. (“Harbor Capital”) today announced that it is adding to its exchange-traded fund (ETF) lineup bringing a new strategy focused on energy transition to market in early June, upon completion of the registration process. Along with ETFs, Harbor Capital also offers a series of mutual funds and collective investment trusts.
The Harbor Energy Transition Strategy ETF (RENW) seeks to provide investment results that correspond, before fees and expenses, to the performance of the Quantix Energy Transition index (the “Index”). The Index was developed by Quantix Commodities LP, also the Fund’s subadviser.
“We are delighted to add to our growing ETF lineup by launching the Harbor Energy Transition Strategy ETF, providing investors with what we believe is a very timely and compelling investment strategy. The world is undergoing an energy regime shift that has only been accelerated by recent events. We believe this coming shift is probably the largest since the phasing out of whale oil as a primary source of energy in the late 19th century. Our strategy gives clients the opportunity to invest in, and help facilitate, this transition as the world marches towards a net zero goal,” said Kristof Gleich, President & CIO, Harbor Capital.
“We are thrilled to be partnering again with Don Casturo and his team at Quantix. Their background and decades of experience investing and trading commodities at Goldman Sachs helps make them the ideal partner in managing this strategy for our clients,” added Gleich.
About Harbor Capital
Harbor offers a diverse family of cost-aware investment solutions managed by institutional-caliber firms. We source talented investment teams to manage portfolios and apply a rigorous fiduciary oversight program to monitor their performance and investment decisions. Harbor had combined assets under management of approximately $63.5 billion as of December 31, 2021. For more information, visit www.harborcapital.com.
The Quantix Energy Transition Index
The Quantix Energy Transition Index was developed by Quantix with the objective of providing diversified exposure to the building blocks of the accelerating transition from carbon-intensive energy sources to less carbon intensive sources of energy using commodity futures. Commodity futures that provide exposure to the energy transition theme are considered component candidates for inclusion in the Index. The investment universe of component candidates for the Index consists of futures contracts traded on an exchange in either the United States, Canada, United Kingdom or Europe on the following commodities: copper, aluminum, nickel, zinc, lead, natural gas (U.S.), natural gas (U.K.), natural gas (Europe), silver, palladium, platinum, soybean oil, ethanol, emissions – European Union Allowances (EUA), and emissions – Capital Cost Allowances (CCA). The selection of commodities is subject to periodic review by QCI. Under normal conditions, the Index maintains exposure to at least 10 commodities from its eligible universe. Commodity futures from the component candidates are selected for the Index and weighted based on QCI’s quantitative methodology. Under normal circumstances, the Index is reconstituted and reweighted monthly.
NOTE: INFORMATION CONTAINED HEREIN IS SUBJECT TO COMPLETION OR AMENDMENT. THE REGISTRATION STATEMENT RELATING TO THESE SECURITIES HAS BEEN FILED WITH THE SEC BUT HAS NOT YET BEEN DECLARED EFFECTIVE. THESE SECURITIES MAY NOT BE SOLD NOR MAY OFFERS TO BUY BE ACCEPTED PRIOR TO THE TIME THE REGISTRATION STATEMENT BECOMES EFFECTIVE. THIS PRESS RELEASE IS NOT AN OFFER TO SELL THESE SECURITIES AND IS NOT SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE THE OFFER OR SALE IS NOT PERMITTED. AN INDICATION OF INTEREST IN RESPONSE TO THIS ADVERTISEMENT WILL INVOLVE NO OBLIGATION OR COMMITMENT OF ANY KIND.
CALL 1-800-422-1050 TO OBTAIN A PROSPECTUS. BEFORE INVESTING YOU SHOULD CAREFULLY CONSIDER A FUND’S INVESTMENT OBJECTIVES, RISKS, CHARGES, AND EXPENSES. THIS AND OTHER INFORMATION IS IN THE PROSPECTUS. PLEASE READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST.
All investments involve risk including the possible loss of principal.
Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. The ETF is new and has no operating history.
There is no guarantee that the investment objective of the Fund will be achieved. Commodity markets are volatile and values can decline significantly in response to adverse commodity specific, political, regulatory, market and economic conditions. A non-diversified Fund may invest a greater percentage of its assets in securities of a single issuer, and/or invest in a relatively small number of issuers, it is more susceptible to risks associated with a single economic, political, or regulatory occurrence than a more diversified portfolio.
Commodity Risk: The Fund has exposure to commodities through its and/or the Subsidiary’s investments in commodity-linked derivative instruments. Commodity prices are generally affected by, among other factors, the cost of producing, transporting and storing commodities, changes in consumer or commercial demand for commodities, the hedging and trading strategies of producers and consumers of commodities, speculative trading in commodities by commodity pools and other market participants, disruptions in commodity supply, weather, political and other global events, global economic factors and government intervention in or regulation of the commodity or commodity futures markets. The Fund may concentrate its assets in a particular sector of the commodities market (such as metal, gas or emissions products). As a result, the Fund may be more susceptible to risks associated with those sectors.
Concentration/Trading Risk: Only authorized participants (“APs”) may engage in creation or redemption transactions directly with the Fund. Commodity-Linked Derivatives Risk: The Fund’s investments in commodity-linked derivative instruments (either directly or through the Subsidiary) and the tracking of an Index comprised of commodity futures may subject the Fund to significantly greater volatility than investments in traditional securities.
Energy Transition Risk: The commodities included in the Index may become less representative of energy transition trends over time depending upon industry trends, global market conditions, demand constraints, and technological advancements in energy production and renewable energy sources. The Fund’s investments may be significantly impacted by government and corporate policies related to the use of renewable energy technologies, such as electric vehicles, and power sources, such as solar, wind and hydrogen. These investments may also be negatively impacted by the policies and practices of governments, intergovernmental organizations, or corporations that promote or benefit fossil-based systems of energy production; reduced availability of renewable energy sources; slowdowns in new construction; seasonal weather conditions, extreme weather or other natural disasters; and threats of attack by terrorists on renewable energy assets.
Foreside Fund Services, LLC is the Distributor of the Harbor Energy Transition Strategy ETF.
Quantix Commodities LP is a third-party subadviser to the Harbor Energy Transition Strategy ETF.
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Contacts
MEDIA: Hedda Nadler – Hedda@mountandnadler.com
Andrew Greene – Andrew@mountandnadler.com