Harley Bassman, “The Convexity Maven,” Joins Simplify Asset Management
Simplify adds to its already impressive leadership team with addition of Mr. Bassman, creator of the MOVE Index, the standard measure of interest rate volatility
February 03, 2021
Mr. Bassman, known throughout the investment industry as “The Convexity Maven,” has been responsible, over the course of his 35-year+ career, for the creation and implementation of several of the more innovative approaches that have shaped the ways in which investors access and use options, derivatives and structured products. He held numerous senior roles during 26 years with Merrill Lynch, including leading the firm’s efforts in OTC bond options (where he made Merrill the category leader within a year). He also created the MOVE Index, which has become the recognized standard measure of interest rate volatility.
More recently, he played key roles with Credit Suisse and PIMCO, where he managed investments for the Liquid Alternative products group and advised on portfolio strategy across asset classes.
“I could not be more excited to join the Simplify team, a group which has an investment philosophy that mirrors my own, from their approach to using options to their focus on keeping costs low for investors,” said Mr. Bassman. “I look forward to all of the conversations we will be having with advisors and investors about Simplify’s existing fund family, our plans for the future, and the ways that our solutions can help them navigate this low rate, high volatility environment.”
Simplify launched its first suite of ETFs, the Equity PLUS Convexity suite, in September of 2020 and has already surpassed the $150 million asset mark as advisors, family offices, institutions and the retail investor community have been drawn to the more scientific approach the firm has pioneered in combining equity index exposures with robust options overlays.
“We said early in our existence that our goal is for Simplify to be the authority on options. By adding someone of Harley’s caliber, we are accomplishing just that,” said Paul Kim, CEO of Simplify. “There is no better source for insight and education around options and volatility than Harley’s writing, and he is a tremendous fit with our education-driven mission, the solutions we’ve created, and those we are in the process of creating.”
“Advisors are navigating perhaps the most challenging market environment in decades,” added Kim. “There is a clear bubble in the bond market, equity valuations continue to stretch past record levels, and inflation pressure is a very real and looming threat, to say nothing of volatility caused by continued geopolitical and economic uncertainties. Difficult as all these factors might be, there are solutions, and we are thrilled to add Harley’s voice to our conversations with advisors and investors to help them build long-term portfolios for their clients.”
ABOUT THE SIMPLIFY ASSET MANAGEMENT INC
Simplify Asset Management Inc. is a Registered Investment Adviser founded in 2020 to help advisors tackle the most pressing portfolio challenges with an innovative set of options-based strategies. By accounting for real-world investor needs and market behavior, along with the non-linear power of options, our strategies allow for the tailored portfolio outcomes for which clients are looking. For more information, visit www.simplify.us.