Legendary music producer Quincy Jones is putting his name on an exchange-traded fund. But will this prove to be a hit, as some of his previous albums have been?
The Grammy Award-winning producer, who's worked with musical heavyweights such as Frank Sinatra, Dizzy Gillespie and Michael Jackson, has agreed to put his name on an ETF, according to a registration statement filed with the U.S. Securities and Exchange Commission. The ETF — Quincy Jones Streaming Music, Media & Entertainment ETF — will target music and entertainment companies.
Exchange Traded Concepts LLC serves as the investment adviser to the ETF, while Vident Investment Advisory LLC is the subadviser. Denise M. Krisko, Vident president and co-founder, is the fund's portfolio manager.
Carrying Mr. Jones' name appears to be all that the ETF will have in common with the producer, as the registration statement says that Mr. Jones "is not the issuer or a sponsor or promoter of the fund and does not offer, sell, or recommend any investment in shares of the fund."
Ms. Krisko declined to comment on the ETF, due to it being "in the quiet period," while representatives from Mr. Jones' office did not respond to requests for comment by press time.