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Rating:An Inaugural ETF Approaches $600MM In Less Than Six Months Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, April 25, 2024

An Inaugural ETF Approaches $600MM In Less Than Six Months

Reported by Neil Anderson, Managing Editor

In less than six months, a 47-year-old, $58-billion-AUM (as of September 30, 2023) fund firm's first ever ETF has crossed the half-a-billion line.

Scott Louis Hayward
Grantham, Mayo, Van Otterloo LLC
CEO, Board Member
The GMO U.S. Quality ETF (QLTY on the NYSE Arca, Inc.) recently surpassed $500 million in AUM, a spokesperson for Boston-based Grantham, Mayo, Van Otterloo & Co. LLC (GMO [profile]) tells MFWire. Per Morningstar, the actively managed equity ETF (a series of the 2023 ETF Series Trust II) now has $577.8 million in AUM, up $137.8 million (31.3 percent) this month alone.

The GMO team launched QLTY last fall, in partnership with Goldman Sachs' ETF Accelerator platform. The fund's inception date was November 13, 2023, and it comes with an expense ratio of 50 basis points.

GMO serves as QLTY's investment advisor. The ETF's PM team includes: Ty Cobb, portfolio manager on GMO's focused equity team; Tom Hancock, head of the focused equity team; and Anthony Hene, PM on the focused equity team.

QLTY's other service providers include: ACA's Foreside Fund Officer Services, LLC as provider of compliance services and a chief compliance officer; Foreside Fund Services, LLC as distributor; Morgan, Lewis & Bockius LLP as counsel; PricewaterhouseCoopers LLP as independent accounting firm; and State Street Bank & Trust Company as administrator, custodian, dividend disbursing agent, securities lending agent, and transfer agent. 

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