Strive Asset Management is set to broaden its product offerings with the introduction of model portfolios and a collective investment trust (CIT). This development was revealed in a regulatory filing on Friday. The move comes as the firm continues to implement its shareholder engagement strategies, encouraging public companies to prioritize economic factors for enhancing shareholder value.
The new portfolios will utilize both Strive's own exchange-traded funds (ETFs) and third-party ETFs as necessary. The fee structure has been designed to charge only for the underlying ETFs in each portfolio, excluding any model-specific fees. For CITs, a sliding scale fee up to 49 basis points has been put in place.
This expansion follows Strive's recent success in the ETF market. The firm launched its first ETF, the US Energy (NASDAQ:USEG) ETF (NYSE:XLE), valued at $365 million in August 2022. This fund has been notable for advocating fossil fuel investment against prevailing ESG investing norms. Since then, Strive's ETF suite has surpassed $1 billion in combined assets, according to data from Morningstar Direct.
Strive Asset Management was founded with a mission to avoid the politicization of retirement accounts. In line with this vision, the firm announced a pooled employer plan (PEP) targeting small and midsize businesses. However, the initial website launched for PEP now redirects users to the Strive homepage.
Matt Cole, formerly associated with the California Public Employees’ Retirement System, serves as the first chief executive of Strive. Under his leadership, the firm continues to evolve its product offerings while staying true to its founding principles.
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