Tudor’s Jones Says Nonprofit Will Start Justice ETF in 2017

(Bloomberg) -- Paul Tudor Jones, founder of $10.6 billion hedge fund Tudor Investment Corp., said a nonprofit organization he’s backing called JUST Capital intends to start an exchange-traded fund comprised of socially responsible companies early next year.

Jones, 62, said that the ETF -- based on a measure he called "America’s Most Just Index" -- will be comprised of 32 companies and could be listed in February or March. The money manager, who founded Tudor in 1980 and made a name for himself making wagers on macroeconomic events, spoke at Bloomberg’s The Year Ahead Summit on Tuesday in New York.

With inspiration from author Deepak Chopra, Jones started JUST Capital, a nonprofit organization that is developing a ranking of the largest publicly traded U.S. corporations on how well they treat their employees, consumers, communities, shareholders and the planet. Jones said the organization will release a ranking the week after Thanksgiving.

“The people will have a voice and drive corporate behavior that will make America just again,” he added.

To contact the reporter on this story: Simone Foxman in New York at sfoxman4@bloomberg.net. To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Vincent Bielski