Gary Gastineau, the principal of ETF Consultants LLC, organized the company in May 2003 to provide specialized exchange-traded fund consulting services to ETF issuers, exchanges and other markets, market makers, research organizations, investment advisors who use ETFs and institutional investors. In 2005 he co-founded Managed ETFs LLC. At Managed ETFs he co-invented the patents behind the introduction of Managed Exchange-Traded Funds which use Net Asset Value based trading, the only ETF trading mechanism that lets an investor measure trading costs accurately. The patents for these new funds, called NextShares have been purchased by Eaton Vance and will be used by Eaton Vance and other fund managers to introduce improved exchange-traded funds.
We support Eaton Vance's use of the patents and we are prepared to work with other client personnel or other consultants as appropriate on a specific project. We will also suggest organizations that have complementary skills.
Gary Gastineau is a recognized expert on open-end exchange traded funds. Prior to joining ETF Advisors, LP, a new ETF management firm, as Managing Director in May 2002, he was Managing Director for ETF Product Development at Nuveen Investments. Preceding his tenure at Nuveen, he directed product development at the American Stock Exchange for approximately five years. As Senior Vice President for New Product Development, Gastineau was instrumental in the introduction of many popular ETF products. Previously, he held senior positions in research, product development and portfolio management at major investment banking firms.
The first edition of his ETF book, The Exchange-Traded Funds Manual, was published in February 2002 by Wiley. A new edition, updated to reflect the past eight years of ETF development and new products to come, was published in July 2010. Another fund book, Someone Will Make Money on Your Funds - Why Not You? was published by Wiley in 2005. Gary is also the author of The Options Manual (Third Edition, McGraw-Hill, 1988), and co-author of the Dictionary of Financial Risk Management (Fabozzi, 1999) and Equity Flex Options (Fabozzi, 1999), as well as numerous journal articles. He received the Bernstein Fabozzi/Jacobs Levy Award for an Outstanding Article for "Equity Index Funds Have Lost Their Way", which appeared in the Winter 2002 issue of The Journal of Portfolio Management. He has serviced as an expert witness in litigation involving ETFs and derivatives.
Gary Gastineau serves on the editorial boards of The Journal of Portfolio Management and The Journal of Index Investing. Gary is an honors graduate of Harvard College and Harvard Business School.