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January 28, 2020

Knights offer new index fund choice for investors

PHOTO | Pixabay.com
By Michelle Tuccitto Sullo

The Knights of Columbus’ asset management and investment arm is launching a new product, a Catholic All Cap U.S. Index Fund.

The New Haven-based Knights of Columbus Asset Advisors, (KoCAA) announced the new  investment option on Monday.

According to KoCAA, the Knights of Columbus’ All Cap Index is a mutual fund comprised of common stocks and real estate investment trusts, with a low cost expense ratio.

Tony Minopoli, president and chief investment officer of KoCAA, said the Catholic organization is “thrilled” to further expand its product offerings. In recent months, it has broadened available selections for customers, such as a new Catholic investor long/short equity fund in December and private-label donor-advised fund in November.

Shari Smith, the Knights’ corporate communications manager for insurance and investments, said, “We are diversifying our financial product offerings to meet the market. We are continuing to add products, and it is a very exciting time.”

As with all of the Knights’ investment products, this latest fund will align with Catholic teachings. Specifically, managers will invest in companies deemed to be in compliance with the U.S. Conference of Catholic Bishops’ “Socially Responsible Investment Guidelines.”

For example, there would be no investments in entities associated with embryonic stem-cell research, contraceptive manufacturing, human cloning or abortion.

Knights of Columbus' headquarters in New Haven.

According to Minopoli, the new index fund has two distinctive features. In addition to focusing investments on companies deemed to be in alignment with Catholic values, Minopoli said this fund offers “significantly below-average fees relative to other equity mutual funds.” 

The new fund has a total net expense ratio of 25 basis points, according to the announcement.

L2 Asset Management, LLC, which is based in Massachusetts, will serve as sub-advisor to the Fund.

According to KoCAA, it has more than $25 billion of assets under management.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.

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