REUTERS/Nicholas Roberts/File Photo Acquire Licensing RightsNov 13 (Reuters) - GMO LLC, the asset management firm co-founded by veteran investor Jeremy Grantham, will launch its first exchange-traded fund (ETF) on Wednesday.
Holdings in GMO's quality stock-focused mutual funds include companies like Microsoft (MSFT.O), Johnson & Johnson (JNJ.N) and Apple (AAPL.O).
About 22% of all inflows into ETFs this year have been to active ETFs, which represent only 7% of total ETF assets, according to Todd Sohn, an ETF analyst at Strategas.
The fund will be managed by Tom Hancock, who has been running a $7.9 billion mutual fund with a similar focus, the GMO Quality III , since 2009.
The GMO launch is the second steered to market by the Goldman Sachs ETF Accelerator, which offers asset managers consulting advice on each stage of the launch process.
Persons:
Jeremy Grantham, Nicholas Roberts, Johnson, Todd Sohn, Tom Hancock, Goldman Sachs, Hancock, Suzanne McGee, Ira Iosebashvili, Lisa Shumaker
Organizations:
Pace University, REUTERS, Quality, Holdings, Microsoft, Apple, CFRA Research, Goldman, Thomson
Locations:
Oxford, New York