By David Willey, Benzinga
DSS Wealth, Inc. has appointed Daniel Lew as its new Chief Investment Officer (CIO) and Portfolio Manager. DSS Wealth is a mutual fund and a wholly-owned subsidiary of DSS, Inc. (NYSE American: DSS), a multinational that looks to increase shareholder value through incubating and spinning off potentially lucrative companies. DSS, Inc. operates around 40 companies through 9 divisions targeted for high-growth potential, including healthcare, real estate and renewable energy.
As its new CIO, Lew will manage DSS Wealth's investment strategies, resource allocation, and risk management to achieve clients' financial goals. He has several decades of experience managing investments, as well as in security analysis and institutional client advisory. Senior investment management positions he has held include those at companies like AIG SunAmerica, Strong Capital, John Hsu Capital, Citizens Advisers and Equitable Capital.
Along with his management positions, Lew has also consulted for institutional funds at both William M. Mercer and RogersCasey. Lews appointment reflects DSS Wealth's commitments both to attracting top talent and to providing their clients with outstanding investment solutions and personalized service.
Daniel Lew, said, "I joined DSS Wealth, Inc. with the mission to build a strong, seasoned team that will deliver better fund performance for DSS AmericaFirst Fund shareholders and to grow assets under management. I am excited that the stock market has been strong, largely driven by a select group of the largest stocks (The Magnificent Seven) in the first half, and now we are seeing signs of breadth expanding to undervalued stocks, especially high dividend and smaller caps. Expanding breadth is usually a strong bullish sign that stocks have much further to run. There is currently over $5 trillion in assets sitting in money market funds to add fuel to the fire."
Promoting DSS Mission
As its new Portfolio Manager, Daniel Lew will leverage his wide-ranging industry experience to drive investment decisions and generate superior returns for clients of DSS Wealth. The company also advises DSS AmericaFirst Quantitative Funds, which approaches investing by using a unique quantitative approach that helps the fund achieve its investment goals.
Bringing on Lew is a key strategic move to help grow DSS Wealth, even as the confidence of some hedge fund managers has faltered during 2023. The move comes with the objective of positioning Lew and DSS Wealth to aggressively develop in the sector and advance DSS, Inc.s overall strategy of incubating and spinning off companies.
Lew added, "I was attracted to DSS because of the fact that there are many good underlying businesses here with experienced management teams that are in various stages of turnaround and growth. At the right point, executive management is committed to unlocking those values via spinouts, sales, or mergers. The appreciation potential for patient investors is considerable and I'm very excited to be able to play a role in building shareholder value.
Jason Grady, Chief Operating Officer at DSS, Inc., commented on Lews appointment, His extensive experience, track record, impressive credentials, and demonstrated expertise make him an invaluable addition to our firm. We are confident that under his leadership, our investment strategies will deliver exceptional results for our clients.
DSS, Inc. recently confirmed the highly-anticipated spinoff in its biotech subsidiary, Impact Biomedical. Investors will be awarded four shares of Impact for every share they own in DSS once the company is spun off. The decision to spin off Impact is following the major announcement that its subsidiary Global BioLife, Inc. has signed a licensing partnership with ProPhase BioPharma Inc. (NASDAQ: PRPH) to develop two promising therapeutics, Equivir and Linebacker, from Global BioLife.
Within the next few fiscal quarters, DSS plans to spin off two other successful subsidiaries, the medical real estate investment trust, AAMI/AMRE, and the financial services company, American Pacific Bancorp.
DSS, Inc. may offer risk-tolerant investors an attractive approach to building a diversified portfolio of future stock dividends as the company executes its business plan of periodic subsidiary spinoffs to its shareholders.
DSS is a multinational company operating businesses within nine divisions: Product Packaging, Biotechnology, Direct Marketing, Commercial Lending, Securities and Investment Management, Alternative Trading, Digital Transformation, Secure Living, and Alternative Energy. DSS strategically acquires and develops assets to enrich the value of its shareholders through calculated IPO spinoffs and a parametric share distribution strategy. Since 2019, under the guidance of new leadership, DSS has built the necessary foundation for achievable growth through the formation of a diversified portfolio of companies positioned to drive profitability in multiple high growth sectors. These companies offer innovative, flexible, and real-world solutions that not only provide mutual benefits for businesses and their customers, but also create sustainable value and opportunity for transformation.
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Rick Lutz- TraDigital IR
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