ANN ARBOR, Mich., April 25, 2016 /PRNewswire/ -- CSat Funds (CSAT), a leading financial asset management firm specializing in the use of proprietary customer satisfaction data as a leading indicator for security selection, is pleased to announce the appointment of Phil Bak as Chief Executive Officer.
Prior to joining CSAT, Mr. Bak served as Managing Director of Exchange Traded Funds (ETFs) at the New York Stock Exchange (NYSE) where he was responsible for bringing hundreds of ETFs to market and oversaw business growth culminating in over $2 trillion in assets on the NYSE platform.
"Phil Bak is ideally suited for taking on the leadership of CSat Funds and making their products available to different investors," said Claes Fornell, Chairman of CSAT. "Phil is not only a leading authority on ETFs, but he also understands how to best use ACSI information for creating stock portfolios to deliver long term investment growth."
In addition to Mr. Bak's appointment, CSAT also announced the hiring of Charles Ragauss as Director of Product Management and Stephen McCarten as Director of Capital Markets. Mr. Ragauss joins CSAT from Huntington Bank where he served as ETF Product Manager. Mr. McCarten is a 13-year veteran of Goldman Sachs where he specialized in ETF trading, and he most recently served as COO for Hull Tactical Funds in Chicago. Joshua Blechman has also been promoted to Director of Operations at CSAT.
CSAT's funds invest in large-cap equity securities traded on U.S. stock exchanges and measured by the American Customer Satisfaction Index (ACSI). CSAT's investment objective is to obtain excess returns at low risk by applying proprietary data and analytical technology to opportunities arising from strong or weak customer relationships in product markets. The company currently manages a classic long/short hedge fund, and CSAT plans to launch an ETF later this year to give a broader investor audience access to the company's strategy in the most efficient investment vehicle available.
"Customer satisfaction is a leading indicator that has been proven to have predictive value for long term company earnings," Bak said. "Companies that treat their customers well tend to do better than their competitors in most markets. Utilizing the proprietary ACSI data allows us to provide investment products that aim to outperform broad indices, creating sustainable alpha through an investment factor that is difficult to replicate."
About CSat Funds
Headquartered in Ann Arbor, MI, CSat Funds is a leading financial asset management firm specializing in the use of proprietary customer satisfaction data as a leading indicator for security allocation, financial asset manager. The company's funds invest in large-cap equity securities of consumer goods/services companies trading on U.S. stock exchanges and measured by the American Customer Satisfaction Index (ACSI). Investments in any CSAT fund are based on information from and analysis of ACSI developed by Professor Claes Fornell, the founder of ACSI and co-founder of CSAT. For additional information, visit www.csatfund.com.
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SOURCE CSAT Investment Advisory LP