An Empire State fund firm's team is a celebrating a big milestone for their first ETF.
| Gregory David "Greg" Bassuk|
AXS Investments LLC
Today, Greg Bassuk
, CEO of Port Chester, New York-based AXS Investments LLC
], and John Davi
, CEO and chief investment officer of Astoria Portfolio Advisors LLC
the recent one-year anniversary of the AXS Astoria Inflation Sensitive ETF
(PPI on the NYSE). PPI's
inception date was December 29, 2021, and it debuted
the next day; now the fund has $60.3 million in AUM, according to the folks at Morningstar.
Davi continues to serve as PPI's primary PM and Astoria as subadvisor. (AXS serves as the fund's investment advisor.)
The AXS team notes that PPI returned 3.95 percent in 2022, beating out all other inflation sensitive ETFs and ranking number in its M* category (U.S. fund global allocation). Bassuk puts the fund's returns in the context of inflation being "one of the dominant themes of 2022." Davi, for his part, notes that "inflation is not transitory and despite the Fed's best efforts we will be feeling inflation's effects for some time."
"Investors need to have the right tools to not only protect their portfolios from the pernicious effects of inflation, but to also gain exposure to those assets with the potential to outperform amidst inflationary conditions," Bassuk states. "That is exactly what we have provided with PPI and we thrilled to be marking this milestone, and equally delighted with the investor response to this ETF so far."
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