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Yes! They just filed last week for 5 new ETFs:
GMO International Quality (Ticker Symbol: QLTI)
GMO International Value (Ticker Symbol: GMOI)
GMO U.S. Value (Ticker Symbol: GMOV)
GMO Beyond China (Ticker Symbol: BCHI)
GMO Systematic Investment Grade Credit (Ticker Symbol: INVG)
Filing is here: https://www.sec.gov/Archives/edgar/data/1981627/000110465924089465/tm2421561d1_485apos.htm
Can also provide the statement below if it’s of use:
GMO has always been committed to offering innovative investment solutions in the implementation structures that best address the needs of our clients. Expanding our ETF suite is a continued evolution of that commitment, driven by demand from intermediary and wealth management investors. We are excited to be making our strategies available to a growing group of investors, many of whom have not been able to access GMO previously.
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"The Fund is an actively managed ETF that seeks to achieve its investment objective by investing in equities of companies tied economically to markets that are not treated as developed markets in the MSCI World Index, with the exception of China (“emerging markets”). The Fund invests in companies that GMO believes are likely to benefit from growth in emerging markets and from the widespread trend of transitioning supply chains out of China to other emerging markets.
In selecting securities for the Fund, GMO uses a combination of proprietary quantitative and fundamental investment methods to identify emerging market equities GMO believes are well positioned to benefit from the expected trend of “moving out of China.” This secular trend is driven by a combination of increasing labor costs in China, increasing geopolitical tensions and increasing focus on supply chain diversification. GMO determines the Fund’s investment universe through a top-down analysis of those countries, regions and sectors that GMO believes are positioned to benefit from the secular trend. To identify attractive securities within that universe, GMO uses a combination of proprietary quantitative and fundamental investment methods that focus on growth, quality, valuation and other patterns of information, such as price movement or volatility of an asset class, security, or market. In constructing the Fund’s portfolio, GMO also considers position size, sector and industry exposure, country and region exposure, currencies, market capitalization, liquidity, and transaction costs. GMO also may consider ESG (environmental, social and governance) criteria. For example, GMO generally avoids investing the Fund’s assets in companies engaged in the manufacture, supply, or distribution of cluster munitions, as well as companies primarily involved in the mining and production of thermal coal. At times, the Fund may have substantial exposure to a single asset class, industry, sector, country, region, issuer, or currency and companies with similar market capitalizations. The Fund may invest in securities of companies of any market capitalization. The factors GMO considers and investment methods GMO uses can change over time."
From a cursory look at their site,
They have an EM ex-China mutual fund with 81M in AUM (7/31) (about 3 year old). Is the ETF expected to be a clone of this mutual fund?
Someone figure out why M* appears to show 200M in AUM.
They also have an EM fund that has $300M AUM, with an inception date in 1993.
https://www.gmo.com/americas/product-index-page/equities/emerging-markets-ex-china-strategy/emerging-markets-ex-china-fund/
I did not spend more than a breath on this post and research.
The managers for the Value and International ETFs are Sakokils Chiang Thorndike with Oliver on Int Value
I could only find an closely equivalent mutual fund for the Beyond China fund, although the Opportunistic Value both US and International are likely the models for the value funds. The Value mutual funds started in 2022, but I assumed GMO had value focused mutual funds well before that.
It is not important and so please do not spend any time on this, but if you are curious compare these two fact sheets which might explain.
https://www.gmo.com/globalassets/documents---manually-loaded/documents/fact-sheets/gmo-emerging-markets-ex-china-fund_fact-sheet.pdf (3/31)
https://www.gmo.com/globalassets/documents---manually-loaded/documents/gmo-emerging-markets-ex-china-fund-class-vi_fact-sheet.pdf (7/31)
The link in my previous post says Fund [not share class] Total Assets. As a further confirmation, when I change the share class from the drop down menu, the total assets do not change.
It will be interesting to see how these five new ETFs are received.
latest GMO paper says quality (per their proprietary method) is best found in its opportunistic 'value' lineup.
marketing circle complete?
PE close to SP500 P/B higher than SP500; does not seem a value fund.
I think this position paper is laying the groundwork for their Value ETFs
QLTI - GMO International Quality
GMOI - GMO International Value
GMOV - GMO US Value
So far no trades or bid/ask.
PS - I’m not seeing a lot of Grantham in the financial press of late ….
symbol BCHI follows GMO's projections.
Don't know if GMO has any such funds.
Several years ago an article stated investments in his foundation* did very well.
Edit/Add:
"Grantham's foundation is about 60% invested in early-stage venture capital.
His plan is to raise that share to 70% 'in a few years' and then place half of that pie in green undertakings.
The foundation has averaged a 19% compounded return over the last 20 years, he added."
Link
* Grantham Foundation for the Protection of the Environment
Four weeks before an election..I'm sure it's just coincidence...sarc
Ya more and more I'm thinking the fools are the one's looking at valuations, playing it safe etc.
Who knows ...
Wasn’t that the case a year ago as well? Remember all the chatter here about cash / T-Bills / CD’s early this year? Many were happy with a guaranteed 5% return, some locking it in for several years out.
I’m not being critical of anyone who opts / has opted in the past year for “safe” investments. Just wondering wth it has to do with the election? Or why you consider it timely. Or are you just baiting people?
Regardless of party in power, (Presidential) election years tend to be pretty decent for investors.
Just when you hear of terms like fiscal dominance, huge deficit spending those monies flow into the stock market
I've been watching some of Darius Dale's work at 42 macro... he's positive on the markets...
GLTI is close but not a clone of GMOIX which has been a pretty good Foreign value fund
GMOV is fairly close to UUDAX but has 50% META for example. Same portfolio managers
I think GLTI should be QLTI.
https://www.morningstar.com/funds/best-active-etfs-buy
You are correct. I can't read my own notes!
At least as a list the article is helpful, but like all of M* it just "Rounds up the usual suspects". It is too bad they settle for such mediocre reporting