Jeremy Grantham's investment firm is taking its first steps to enter the world of exchange traded funds, debuting a new offering modeled on one of Grantham, Mayo, Van Otterloo's crown jewel mutual funds.
The GMO U.S. Quality ETF (QLTY) launched last Wednesday, marking the investment firm's first ETF.
The new ETF will be managed by the same team that helms GMO Quality III mutual fund ( GQETX ).
The QLTY ETF should see a similar turnover rate of around 20% to what the mutual fund has, he added.
Jeremy Grantham, GMO's chief investment strategist, is not directly involved in the new ETF.
Persons:
Jeremy, Van, Tom Hancock, Hancock, Jeremy Grantham
Organizations:
Quality, helms, Morningstar, Microsoft, General Electric
Locations:
Grantham, Mayo