On the other hand, due to the ESG criteria, the funds will exclude certain industries, including those associated with alcohol, tobacco, military weapons, firearms, nuclear power and gambling, among others.

“This latest offering highlights the many areas of strength across our firm as we are able to leverage the widely respected ESG expertise of TIAA with the product development and service platform of Nuveen,” Martin Kremenstein, Managing Director and Head of Exchange-Traded Funds at Nuveen, said in a note.

ESG strategies have been gaining wider acceptance. According to a recent TIAA Global Asset Management survey of over 1,000 high net worth U.S. investors, 89% of respondents showed they would invest responsibly as long as they could achieve similar or better returns while almost three quarters revealed they would more likely work with advisors whom were able to offer competitive investment options that have a positive impact on society.

“Investors are beginning to realize that it is indeed possible to build a well-diversified portfolio of ESG options that can deliver competitive returns. Offering a comprehensive range of ESG products and strategies that helps investors achieve their financial goals is critical,” Amy O’Brien, managing director and head of Responsible Investment at TIAA Global Asset Management, said in a note.

For more information on new fund products, visit our new ETFs category.

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