New Faith-Based Investment Portfolios at Newday!
Providing you an impactful and diverse selection of investment options is our priority. This month of April marks major celebrations of three religious holidays: Easter, Passover, and Ramadan. For millennia, religious beliefs have shaped society and today Newday in partnership with Magni Global Asset Management is proud to announce the introduction of three (3) new impact portfolios.
These 3 plus Newday’s current lineup of 12 impact investment strategies totals 15 high-impact portfolios. The new strategies available now on Newday’s impact investing platform are:
Religious beliefs have shaped our society, and Newday users can now invest according to their faith. These three Abrahamic faiths have an immense following. There are more than 1 billion Catholics, almost 2 billion Muslims, and approximately 15 million Jews worldwide. Collectively, almost 4 out of 10 people around the world follow one of these faiths.
Learn About the Faith-Based Portfolios
The Catholic Values portfolio follows the investment guidelines of the U.S. Council of Catholic Bishops (USCCB) and chapters seven and eight of Catholic Social Teachings. Magni applied all 14 points in the USCCB guidelines: 6 relate to prohibited activities, and companies performing those activities were excluded; 8 relate to desired activities, and can result in higher allocations to companies demonstrating desirable behaviors.
The Islamic Stewardship portfolio is Shariah compliant. Consistent with traditional Shariah-compliant portfolios, companies profiting from haram products or services are removed. In addition, the Magni Islamic Stewardship portfolio also prioritizes companies that comply with Islamic values as defined by the Maqasid al Shariah. An Islamic principle is that Allah provides us a better halal substitute for everything that is haram. The Maqasid values provide guidance on the better substitutes for behavior. Finally, corporate governance best practices are an important criteria for this Islamic Stewardship model.
The Halakhic Portfolio is based on Jewish law. Observant Jews seek to live consistent with Halacha in all daily activities, and can now invest in Halakhic compliant public equities. Magni Halakhic approach screens companies for compliance with Jewish law under the guidance of the Bais HaVaad Halacha Center. In addition, this guidance was applied to a secular model for corporate governance best practices to create this Halakhic portfolio.
Newday’s partnership with Magni brings together faith to investing.
Our objective in collaborating with Magni is to offer values-based investors opportunities to invest in companies that are aligned with their faith.
Since our inception, Newday has helped solve the challenges within our society by allocating capital towards companies that are meaningfully improving our world.
Newday portfolios are bridging the chasm between awareness and action -- ensuring corporations, faith-based institutions, government, and citizens all can take joint action
- Douglas Heske, Newday CEO -
Newday and Magni Global Asset Management’s clients will be able to access the new Magni strategies on the Newday platform.
For new customers, you can download the app, open and fund an account, and select your faith-based portfolio.
For current investors, all three new portfolios are now available on our mobile app. You will be able to adjust the allocation of your portfolios to include one, two, or all three of the faith-based strategies.