Core Viewpoint - JLens has launched the first Jewish investment fund, the JLens 500 Jewish Advocacy U.S. ETF (ticker: TOV), which aims to amplify the Jewish voice in corporate America while delivering competitive financial performance [1][2][3]. Fund Overview - The TOV ETF has grown to over $190 million in assets since its launch in February 2025, indicating strong investor demand with approximately 1,000 investor accounts [2][3]. - TOV tracks the JLens 500 Jewish Advocacy U.S. Index, which includes the 500 largest U.S. public companies [3][4]. Advocacy and Values - JLens evaluates over 80 metrics per company in its portfolio, focusing on issues such as antisemitism, support for Israel, and alignment with Jewish values [4]. - The fund empowers investors to advocate for Jewish values in the marketplace while seeking competitive returns [5]. Recent Developments - Recent momentum for JLens includes new board member appointments and significant shareholder support for proposals addressing antisemitism, such as a 46.8% support for a proposal at Meta [6]. - The fund is affiliated with the Anti-Defamation League (ADL), which is recognized as a leading anti-hate organization [8][9]. Organizational Background - JLens, founded in 2012, is a nonprofit and Registered Investment Advisor that aligns capital with Jewish values and advocates for Jewish communal priorities [8]. - The Jewish Investor Network, part of JLens, consists of over 30 Jewish institutions representing $11 billion in communal capital [8]. Fund Management - The TOV ETF is managed by ETF Architect, which provides a comprehensive infrastructure for launching and operating exchange-traded funds [11].

Core Viewpoint - New York City Comptroller Brad Lander is urging the city's pension fund officials to rebid $42.3 billion managed by BlackRock due to climate concerns, marking a significant move by a Democrat against the fossil-fuel industry's influence on financial companies [1][6]. Group 1: Recommendations and Actions - Lander's recommendation will be presented to Mayor-elect Zohran Mamdani, who will face pressure regarding the pension fund management when he takes office [2]. - In a memo, Lander called for a re-evaluation of contracts with BlackRock, citing its restrictive engagement approach with approximately 2,800 U.S. companies where it holds over 5% of shares [3]. - Lander suggested that the pension plans retain BlackRock for managing non-U.S. equity index mandates while continuing to use State Street for $8 billion in equity index assets, and recommended dropping Fidelity Investments and PanAgora for insufficient environmental engagement [5]. Group 2: Context and Background - BlackRock's decision in February, under pressure from the Trump administration, to refrain from using discussions with executives to influence companies was criticized by Lander as an "abdication of financial duty" [4]. - The move by Lander represents the first significant response from a large Democratic asset owner to the trend of Republicans withdrawing funds from BlackRock and other managers over social and environmental investment criteria [6].

Investment Rating - The report does not explicitly provide an investment rating for the industry or trusts involved Core Insights - The Guidelines for Investing PRG, RS, PRG-HIPC, and CCR Trusts' Assets were adopted to establish investment objectives and policies for various trusts, including the PRG Trust and RS Trust [5][6] - The Managing Director is responsible for implementing the investment policies and ensuring adherence to responsible investing principles, including ESG considerations [8][9] - Investment assets are to be managed primarily by external asset managers, with specific criteria for selection based on professional standards and track records [10][11] Summary by Sections General Provisions - The Guidelines apply to the investment assets of the PRG Trust, RS Trust, PRG-HIPC Trust, and CCR Trust [5] - Investment assets available for investment are subject to these Guidelines [6] Responsibilities of the Managing Director - The Managing Director must establish decision-making and oversight arrangements, avoid conflicts of interest, and adopt responsible investing principles [8] Investment of Assets of the PRG Trust - Investment objectives include generating income, providing security to lenders, and ensuring liquidity [16] - The Long-Term Portfolio aims for a margin of 100 basis points above the three-month SDR rate over a minimum 10-year horizon [17] - Target asset allocation for the Long-Term Portfolio includes 40% in short duration fixed-income, 30% in corporate bonds, 10% in global government bonds, and 20% in global equities [18] Investment of Assets of the RS Trust - Investment assets are aimed at generating income, providing security for loans, and ensuring liquidity [31] - The short duration fixed-income component seeks to exceed the 3-month SDR interest rate by 50 basis points over a 3-4 year horizon [33] Investment of Assets of the PRG-HIPC and CCR Trusts - Investment objectives focus on enhancing returns while meeting liquidity requirements and limiting capital impairment risk over a maximum three-year horizon [44] - The investment component is limited to marketable obligations and must have a maximum average duration of three years [47] Minimum Credit Ratings - All assets must meet specific credit rating thresholds, with corporate bonds requiring at least a BBB- rating and other assets at least a BBB+ rating [26][38] - For the PRG-HIPC and CCR Trusts, a minimum credit rating of A is required for eligible investments [51] Limits on Investment Activities - Adequate safeguards against short selling and financial leverage must be established [25][50] - Derivatives are prohibited except for currency hedging purposes [54]