Strive Asset Management (ASST)

History and Background

Strive Asset Management was founded in 2022 by Vivek Ramaswamy and Anjali Sud. It is a newer entrant to the asset management space, focusing on providing investment products that prioritize long-term shareholder value and oppose what it terms 'woke capitalism' or environmental, social, and governance (ESG) focused investing that deviates from fiduciary duty. The firm aims to empower investors with choices that align with their financial interests.

Core Business Areas

• Asset Management: Strive provides a range of investment funds and ETFs that focus on traditional financial metrics and shareholder returns, deliberately excluding ESG considerations that they believe can compromise performance. Their strategy involves actively engaging with companies to advocate for these principles.

Leadership and Structure

Founded by Vivek Ramaswamy (Executive Chairman) and Anjali Sud (CEO). The organizational structure is typical of a growing asset management firm, with teams dedicated to investment management, client relations, marketing, and operations.

Key Offerings

• STRIVE: U.S. Energy ETF (DRLL): This ETF invests in U.S. companies involved in the exploration, production, and transportation of energy. It aims to provide exposure to traditional energy sectors, positioning itself as an alternative to ESG-focused funds. Market share data is nascent given the company's age. Key competitors include traditional energy ETFs from providers like Vanguard, iShares, and State Street.
• STRIVE: U.S. Industrial Leaders ETF (AIRR): This ETF focuses on U.S. industrial companies, emphasizing businesses that are considered foundational to the economy. Similar to DRLL, its competitive landscape consists of broad industrial ETFs from major asset managers.

Industry Overview

The asset management industry is highly competitive and mature, characterized by a trend towards lower fees and passive investing (ETFs). However, there is a growing segment of investors seeking thematic or values-based investments, including those concerned about ESG mandates versus fiduciary duty.

Positioning

Strive positions itself as an anti-ESG asset manager, appealing to investors who believe that ESG factors can negatively impact financial returns. Their competitive advantage lies in this niche focus and their active shareholder engagement strategy.

Total Addressable Market (TAM)

The global asset management market is valued in trillions of dollars. Strive is targeting a specific segment of this market focused on investors dissatisfied with ESG-driven mandates. Their initial TAM is a fraction of the overall market but could grow significantly if their anti-ESG thesis gains traction.

Key Competitors

• Vanguard (V)
• iShares by BlackRock (BLK)
• State Street Global Advisors (STT)

Competitive Landscape

Strive faces immense competition from established players with vast resources, brand recognition, and diverse product offerings. Its advantage is its niche focus, but scaling to compete directly with giants in terms of AUM and market share is a significant challenge.

Historical Growth: Growth is measured by the increase in Assets Under Management (AUM) since its inception. Early growth has been driven by its public profile and the distinct market positioning.

Future Projections: Projections are speculative and would depend on market adoption of its investment philosophy and the success of its fundraising efforts. Growth is expected to be tied to AUM expansion.

Recent Initiatives: Launch of new ETFs, public commentary on corporate governance and ESG, and active engagement with companies.

Strive Asset Management is a niche player in the asset management industry, differentiating itself by actively opposing ESG-focused investing and championing shareholder primacy. While its clear thesis appeals to a specific investor segment, its primary challenge is its nascent stage and fierce competition from established giants. Its success hinges on capturing market share from dissatisfied investors and effectively executing its active ownership strategy.

Data Sources:

• Company website (Strive Asset Management)
• Financial news outlets
• Industry reports on asset management trends
• ETF provider websites

Disclaimers:

This JSON output is based on publicly available information and industry analysis. Strive Asset Management is a privately held company, and detailed financial data is not publicly disclosed. Market share figures for Strive are estimates based on its current presence and are subject to rapid change. This information is for informational purposes only and not investment advice.