MutualFundWire.com: Under a New Chief, a Startup Crosses $750MM In AUM

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Thursday, June 15, 2023

Under a New Chief, a Startup Crosses $750MM In AUM

The folks at a Midwestern ETF startup under a familiar new chief are celebrating an AUM milestone.

Matt Cole
CEO, Chief Investment Officer
Strive Asset Management

Matt Cole, chief investment officer and global head of fixed income at Strive Asset Management, took over as CEO earlier this spring while remaining CIO, MFWire has learned. Last week, Cole revealed that Strive (based outside Columbus in Dublin, Ohio) has surpassed $750 million in AUM, about 10 months after the launch of the first Strive ETF and about 13 months after the firm opened its doors last spring.

Strive subadvises eight passive ETFs, while Empowered Funds, LLC (dba EA Advisers, aka ETF Architect) serves as investment advisor, and the Strive team is also entering the 401(k) PEP space. Strive is a kind of activist asset manager, focused on urging companies to focus on shareholder primacy, pushing back against stakeholder capitalism and ESG. One of Strive's co-founders stepped back from the company earlier this year and entered the U.S. presidential race as a champion of shareholder capitalism.

"If your asset manager is not 100% devoted to shareholder primacy as a firm, they are not a good fiduciary," Cole states. "Strive is unwavering in its dedication to advancing our clients' best financial interestes by guiding companies to focus on excellence. It is this commitment that positions Strive ahead of industry norms. And we're just getting started."

Cole joined Strive last year, serving as head of product and investments before rising to CIO in February 2023. Earlier, he spent 15 years with CalPERS, where he served as a PM. He is an alumnus of California State University - Sacramento.

Printed from: MFWire.com/story.asp?s=66096

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