WEST HOLLYWOOD, CA, Oct. 19, 2020 (GLOBE NEWSWIRE) -- LGBTQ Loyalty Holdings, Inc. (OTC PINK: LFAP) ("LGBTQ Loyalty" or “the Company”), a diversity and inclusion driven financial methodology and data company that quantifies corporate equality alignment with the LGBTQ community and minority interest groups, is pleased to announce today our intention and continued support to launch the ETF benchmarked to the LGBTQ+ ESG100 Index.
Due to the unprecedented volatility of the financial markets caused by COVID -19 and the extreme market concerns this pandemic has created in the retail investing world since February of this year, our Board of Directors believe it is in the best interest of our shareholders and advocates to support the decision to launch in the first quarter of 2021 or sooner if market conditions change. The company is in the process of finalizing all necessary steps to rebalance and reconstitute the index under the current methodology.
We believe that this decision will allow the NASDAQ’s listing of the LGBTQ+ ESG100 benchmarked ETF to be launched in an improved retail investing environment and be better positioned to encourage maximum support for the implementation and marketing of this unique and monumental investment opportunity. The Board of Directors is fully engaged in every step in the process.
The company and our supporters believe that the world is ready for a financial product to serve the principles and core values of the LGBTQ community and our allies. Advancing equality and supporting the LGBTQ community is at the forefront of our company.
“It is imperative we launch the ETF at the most appropriate time as our community and allies are counting on us. The application of prudent timing and execution will serve advancing LGBTQ equality for generations to come,” said Bobby Blair CEO.
“The importance of an investment vehicle which gives people the chance to advance their values while bolstering their economic security will be especially high when we begin recovering from the emotional and financial stresses of the pandemic. That is why we are doing everything possible to ensure that we have a product that meets all relevant tests,” commented Former Congressman and LGBTQ Loyalty Board Member, Barney Frank.
“2020 has presented more challenges than any of us could have ever imagined. However, I am galvanized by the resiliency and determination of LGBTQ Loyalty Holdings, Inc., and we are more determined than ever to launch our ETF. We believe in our methodology, its potential impact, and are united in our effort to make it happen,” said Billy Bean, Major League Baseball and LGBTQ Loyalty Board Member.
“We believe that the launch of the first preference based index and its’ benchmark ETF will set a new standard where the targeted investors will have input into the index construction at its inception. Too often new indexes are built to a standard that may not meet the ideals of the investor group and the investment is not placed within their portfolio,“ said Bob Tull, LGBTQ Loyalty Board Member.
LGBT will trade on the Nasdaq and track the LGBTQ100 ESG Index (Index Ticker: LGBTQ100), which identifies the top 100 corporations that align with the LGBTQ community across America. It is the first-ever index to incorporate LGBTQ community survey data into the methodology, generating a benchmark of the nation’s highest- performing companies that are most committed to advancing equality. The Index outperformed the market for the first half of the year (Jan. 1-June 30, 2020), exceeding the S&P 500 Index benchmark by 3.41%.
About LGBTQ Loyalty Holdings, Inc.
LGBTQ Loyalty is a diversity and inclusion-driven financial methodology and data company that quantifies corporate equality alignment with the LGBTQ community and minority interest groups. The Company has benchmarked the first-ever U.S. Loyalty Preference Index which the Company believes empowers the LGBTQ community to express their preferences for the nation's high performing corporations most dedicated to advancing equality. The Loyalty Preference Index, branded as LGBTQ100 ESG Index, is an environmental, social and governance (ESG) Index, offering an added perspective for those seeking to align with equality driven ESG responsible corporations. LGBTQ Loyalty's leadership includes seasoned authorities in the financial industry and the LGBTQ community. www.lgbtqloyalty.com
LGBTQ Loyalty Holdings, Inc.
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