Vivek Ramaswamy hopes to become the Republican nominee for the US presidential election. The fund he co-founded is strongly opposed to prioritizing environmental, social and governance criteria.
From the beginning, Strive Asset Management sold itself as a counterpart to funds that did not prioritize ethical considerations in their investments, in vocal opposition to investment funds. ESGESGESG is an acronym that stands for Environment, Social and Governance. In Norwegian, this term translates to environmental, social and business ethics..
Strive now has more than $1 billion in assets under management in the year following the fund’s launch, the company said in a statement press release.
The company was founded by Vivek Ramaswamy and co-founder Anson Frericks in 2022. Prominent financiers and billionaires like Peter Thiel and Bill Ackman helped pump in the money.
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Now the clocks are starting to tick for Solstad
Ramaswamy was part of the company’s top management as ‘CEO’ until February 2023.
Then he threw himself into the battle to become the Republican candidate in next year’s presidential elections in the United States to resign An effective role in seeking to manage the electoral campaign.
“Focus on brilliance”
ESG stands for Environmental, Social and Governance. This usually translates into environmental, social and business ethics, and relates to criteria that investors evaluate whether a company takes into account.
Strive claims to offer an alternative that has been lost in recent years. This is by being a “manager who prioritizes exclusively the financial interest of clients”, rather than long-term ownership and ESG.
“Focus on excellence” has been the motto.
– It is a rare feat for any independent issuer to reach $1 billion in the first year, not least one that is largely ESG-compliant when many of these types of ETFs have failed, says senior analyst Eric Balchunas in Bloomberg News Agency.
Strive manages assets through 11 different funds. Its US energy funds are among the most successful.
Ramaswamy previously told Bloomberg that Strive, through its voting rights, encourages oil companies to “drill more and frack more.”
He will be president
Founder Vivek Ramaswamy built his fortune, among other things, through pharmaceutical company Roivant Sciences, which he started in 2014 and later went public.
Ramaswamy is now trying to become the Republican nominee in next year’s US presidential election. Among other things, he tried to portray himself as the main opponent of wokeness in the business world.
In opinion polls, he currently ranks third, according to an average compiled by Real clear policy. There, former President Donald Trump has a clear lead, while Ron DeSantis is the second best candidate to win the nomination.
Politics may have helped generate interest around Strive, says Eric Balchunas of Bloomberg Intelligence.
– Ramaswamy’s wealthy supporters have helped a lot, and it probably wouldn’t hurt them to run for president either
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