On November 1, ACSI Funds [profile] launched its introductory ETF, the American Customer Satisfaction Core Alpha ETF, which is now available on the BATS marketplace. This new ETF will track the the American Customer Satisfaction Index, developed by Claes Fornell, a specialist in customer service quantification. It aims to track the level of customer satisfaction present nationwide.

Kevin Quigg ACSI Funds Chief Strategist

“Customer satisfaction leads to stock price changes, it's very intuitive, but very underutilized [in the market]," Phil Bak, CEO of ACSI Funds states.

ACSI Funds is an asset management firm, headquartered in Ann Arbor, MI and led by Bak, Kevin Quigg, chief strategist, and John Cattier, founding partner and chief financial officer. The firm seeks to fabricates investment products in accordance with the American Customer Satisfaction Index, distributing capital to companies people enjoy the most. Amazon rates the highest according to the index; various cable and utility companies rate the lowest.

Previously, the firm was known as CSAT Funds, short for Customer Satisfaction Funds, but they underwent a name change in order to align more closer with their underlying strategy, the ACSI. In the future, ACSI plans to launch more ETFs if their potential products have a distinguished edge.

Quasar Distributors, LLC serves as distributor of the fund. U.S. Bancorp Fund Services, LLC is the transfer agent for the fund. U.S. Bank National Association serves as a custodian for the fund. Morgan, Lewis & Bockius LLP serves as legal counsel to the fund. Cohen & Company (formerly Cohen Fund Audit Services) is the auditor to the fund.
 

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