FILE PHOTO: Jeremy Grantham, co-founder and chief investment strategist of GMO, takes notes during an Oxford-style debate on financial innovation hosted by "The Economist" magazine at Pace University in New York October 16, 2009. REUTERS/Nicholas Roberts/File Photo
(Reuters) - GMO LLC, the asset management firm co-founded by veteran investor Jeremy Grantham, will launch its first exchange-traded fund (ETF) on Wednesday.
The firm said it is rolling out the GMO U.S. Quality ETF seeking to tap into two big trends of 2023: intense investor interest in actively managed ETFs and in so-called high-quality stocks - or companies with high and stable profitability and strong balance sheets. Holdings in GMO's quality stock-focused mutual funds include companies like Microsoft, Johnson & Johnson and Apple.
