Azoria ETF Challenges Diversity-Driven Investments

Azoria Partners plans to launch the Azoria Meritocracy ETF, excluding companies with quantitative diversity initiatives from the S&P 500. CEO James Fishback will unveil the fund at Mar-a-Lago, aiming to raise $1 billion by 2025. The fund challenges ESG investment trends by prioritizing perceived meritocracy.

Azoria Partners is set to launch the Azoria Meritocracy ETF, a fund that will specifically avoid investing in companies practicing quantitative diversity measures. This move challenges current ESG trends favoring diversity and inclusion.

The fund's CEO, James Fishback, who previously parted ways with Greenlight Capital, aims to raise $1 billion for the ETF by the end of 2025. The launch event is scheduled at Mar-a-Lago, reflecting Fishback's support for President-elect Donald Trump, whose supporters often critique ESG strategies.

Despite criticism, Fishback believes that excluding diversity-focused companies will yield competitive returns. Industry analysts remain skeptical about the fund's influence and potential acceptance among investors who favor ESG principles.

(With inputs from agencies.)