Global investment manager GMO, co-founded by investor Jeremy Grantham, on Wednesday announced its first exchange-trade fund , the GMO U.S. Quality ETF (NYSE: QLTY), which seeks to buy high-quality U.S. stocks.
The firm's expansion into ETFs reflects its commitment to addressing client needs, GMO said, noting the fund will align with investors seeking tax advantages and efficient access to GMO's institutional-grade strategies.
The ETF will meet demand from the intermediary and wealth management channels, said GMO's CEO, Scott Hayward.
"Quality has a claim on being the most mispriced characteristic in the market over the last 100 years," said Grantham, GMO's long-term investment strategist. "Since we began researching quality in the 1980s, GMO has focused on finding companies with a consistent and enduring ability to deliver high returns on their investments."
