Mutual Fund | Equities
- Overview
- Facts
- Performance
- Documents
- Risks
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- Overview
- Facts
- Performance
- Documents
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Overview
The GMO International Opportunistic Value Fund seeks to generate total return by investing primarily in international equities. The Fund’s benchmark is the MSCI World ex-U.S.A. Index.
The Fund aims to profit from our Asset Allocation team’s current insight that developed, non-U.S. “deep value” (cheapest 20%) stocks are unusually cheap relative to their own history. This actively managed Fund concentrates exposure in the deep value segment by focusing on the international stocks that GMO’s Systematic Equity team identifies as the most undervalued, using proprietary valuation models because we believe that relying on reported financials and index definitions of value may lead investors to misjudge the opportunity.
Facts
| Fund Inception Date | July 29, 1998 |
| Fund Total Assets as of 4/30/2023 | $31mm USD |
| Benchmark | MSCI World ex USA |
Share Class III
| Inception Date | July 29, 1998 |
| Ticker Symbol | GTMIX |
| CUSIP | 362008666 |
| NAV as of 5/24/2023 | 13.30 |
| Net Expense Ratio 1 | 0.85 |
| Gross Expense Ratio 2 | 1.44 |
| Minimum Investment Size | $5mm in GMO |
1 Net Expense Ratio reflects the reduction of expenses from fee reimbursements. The fee reimbursements will continue until at least June 30, 2023. Elimination of this reimbursement will result in higher fees and lower performance.
2 Gross Expense Ratio is equal to the Funds Total Annual Operating Expenses set forth in the Funds most recent prospectus dated June 30, 2022.
Performance
Quarter-End as of March 31, 2023(USD, %)
| 1-Year | 3-Year | 5-Year | 10-Year | ITD | |
|---|---|---|---|---|---|
| International Opportunistic Value Fund | -0.22 | 14.05 | 2.35 | 4.25 | 5.61 |
| MSCI World ex USA | -2.74 | 13.50 | 3.83 | 4.91 | 4.39 |
| MSCI World Ex USA Value | -1.85 | 15.33 | 2.21 | 3.79 |
- International Opportunistic Value Fund 1
- MSCI World ex USA
- MSCI World Ex USA Value
Inception Date: July 29, 1998
Returns shown for periods greater than one year are on an annualized basis.
If certain expenses were not reimbursed, performance would be lower. Transaction costs, if any, are paid to the fund to offset the cost of portfolio transactions to invest or raise cash.
Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.
1 The performance information for all periods prior to May 15, 2023, was achieved prior to the change in the Fund’s investment objective and principal investment strategies. In addition, the Fund’s benchmark has changed from MSCI EAFE Index to MSCI World ex-USA.
Quarter-End as of March 31, 2023(USD, %)
| QTD | YTD | 1-Year | 3-Year | 5-Year | 10-Year | ITD | |
|---|---|---|---|---|---|---|---|
| International Opportunistic Value Fund | 6.35 | 6.35 | -0.22 | 14.05 | 2.35 | 4.25 | 5.61 |
| MSCI World ex USA | 8.02 | 8.02 | -2.74 | 13.50 | 3.83 | 4.91 | 4.39 |
| MSCI World Ex USA Value | 5.63 | 5.63 | -1.85 | 15.33 | 2.21 | 3.79 |
- International Opportunistic Value Fund 1
- MSCI World ex USA
- MSCI World Ex USA Value
Inception Date: July 29, 1998
Returns shown for periods greater than one year are on an annualized basis.
Net of all fees and expenses after reimbursement by the Manager, but not transaction costs, if any. If certain expenses were not reimbursed, performance would be lower.
Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.
1 The performance information for all periods prior to May 15, 2023, was achieved prior to the change in the Fund’s investment objective and principal investment strategies. In addition, the Fund’s benchmark has changed from MSCI EAFE Index to MSCI World ex-USA.
Quarter-End as of March 31, 2023(USD, %)
| QTD | YTD | 1-Year | 3-Year | 5-Year | 10-Year | ITD | |
|---|---|---|---|---|---|---|---|
| International Opportunistic Value Fund | 6.53 | 6.53 | 0.46 | 14.86 | 3.12 | 5.00 | 6.34 |
| MSCI World ex USA | 8.02 | 8.02 | -2.74 | 13.50 | 3.83 | 4.91 | 4.39 |
| MSCI World Ex USA Value | 5.63 | 5.63 | -1.85 | 15.33 | 2.21 | 3.79 |
- International Opportunistic Value Fund 1
- MSCI World ex USA
- MSCI World Ex USA Value
Inception Date: July 29, 1998
Returns shown for periods greater than one year are on an annualized basis.
Gross of fees, expenses and transaction costs, if any. If these fees, expenses and costs were included, performance would be lower.
Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.
1 The performance information for all periods prior to May 15, 2023, was achieved prior to the change in the Fund’s investment objective and principal investment strategies. In addition, the Fund’s benchmark has changed from MSCI EAFE Index to MSCI World ex-USA.
Month-End as of April 30, 2023(USD, %)
| MTD | QTD | YTD | 1-Year | 3-Year | 5-Year | 10-Year | ITD | |
|---|---|---|---|---|---|---|---|---|
| International Opportunistic Value Fund | 1.87 | 1.87 | 8.33 | 7.69 | 12.12 | 2.65 | 3.82 | 5.67 |
| MSCI World ex USA | 2.84 | 2.84 | 11.09 | 7.05 | 12.02 | 3.91 | 4.74 | 4.50 |
| MSCI World Ex USA Value | 3.26 | 3.26 | 9.08 | 6.70 | 14.50 | 2.24 | 3.57 |
- International Opportunistic Value Fund 1
- MSCI World ex USA
- MSCI World Ex USA Value
Inception Date: July 29, 1998
Returns shown for periods greater than one year are on an annualized basis.
Net of all fees and expenses after reimbursement by the Manager, but not transaction costs, if any. If certain expenses were not reimbursed, performance would be lower.
Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.
1 The performance information for all periods prior to May 15, 2023, was achieved prior to the change in the Fund’s investment objective and principal investment strategies. In addition, the Fund’s benchmark has changed from MSCI EAFE Index to MSCI World ex-USA.
Month-End as of April 30, 2023(USD, %)
| MTD | QTD | YTD | 1-Year | 3-Year | 5-Year | 10-Year | ITD | |
|---|---|---|---|---|---|---|---|---|
| International Opportunistic Value Fund | 1.92 | 1.92 | 8.58 | 8.43 | 12.90 | 3.42 | 4.56 | 6.40 |
| MSCI World ex USA | 2.84 | 2.84 | 11.09 | 7.05 | 12.02 | 3.91 | 4.74 | 4.50 |
| MSCI World Ex USA Value | 3.26 | 3.26 | 9.08 | 6.70 | 14.50 | 2.24 | 3.57 |
- International Opportunistic Value Fund 1
- MSCI World ex USA
- MSCI World Ex USA Value
Inception Date: July 29, 1998
Returns shown for periods greater than one year are on an annualized basis.
Gross of fees, expenses and transaction costs, if any. If these fees, expenses and costs were included, performance would be lower.
Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.
1 The performance information for all periods prior to May 15, 2023, was achieved prior to the change in the Fund’s investment objective and principal investment strategies. In addition, the Fund’s benchmark has changed from MSCI EAFE Index to MSCI World ex-USA.
Year Ending December 31 (USD, %)
| International Opportunistic Value Fund | MSCI World ex USA | MSCI World Ex USA Value | |
|---|---|---|---|
| 2022 | -9.85 | -14.29 | -5.64 |
| 2021 | 10.79 | 12.62 | 13.26 |
| 2020 | 7.50 | 7.59 | -3.22 |
| 2019 | 23.31 | 22.49 | 17.02 |
| 2018 | -21.24 | -14.09 | -15.06 |
| 2017 | 28.44 | 24.21 | 21.04 |
| 2016 | -0.36 | 2.75 | 7.39 |
| 2015 | -5.35 | -3.04 | -7.68 |
| 2014 | -7.54 | -4.32 | -5.41 |
| 2013 | 25.62 | 21.02 | 21.47 |
- International Opportunistic Value Fund 1
- MSCI World ex USA
- MSCI World Ex USA Value
Inception Date: July 29, 1998
Returns shown for periods greater than one year are on an annualized basis.
Net of all fees and expenses after reimbursement by the Manager, but not transaction costs, if any. If certain expenses were not reimbursed, performance would be lower.
Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.
1 The performance information for all periods prior to May 15, 2023, was achieved prior to the change in the Fund’s investment objective and principal investment strategies. In addition, the Fund’s benchmark has changed from MSCI EAFE Index to MSCI World ex-USA.
Year Ending December 31 (USD, %)
| International Opportunistic Value Fund | MSCI World ex USA | MSCI World Ex USA Value | |
|---|---|---|---|
| 2022 | -9.24 | -14.29 | -5.64 |
| 2021 | 11.59 | 12.62 | 13.26 |
| 2020 | 8.32 | 7.59 | -3.22 |
| 2019 | 24.29 | 22.49 | 17.02 |
| 2018 | -20.59 | -14.09 | -15.06 |
| 2017 | 29.31 | 24.21 | 21.04 |
| 2016 | 0.31 | 2.75 | 7.39 |
| 2015 | -4.72 | -3.04 | -7.68 |
| 2014 | -6.92 | -4.32 | -5.41 |
| 2013 | 26.44 | 21.02 | 21.47 |
- International Opportunistic Value Fund 1
- MSCI World ex USA
- MSCI World Ex USA Value
Inception Date: July 29, 1998
Returns shown for periods greater than one year are on an annualized basis.
Gross of fees, expenses and transaction costs, if any. If these fees, expenses and costs were included, performance would be lower.
Performance data quoted represents past performance and is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data provided herein.
1 The performance information for all periods prior to May 15, 2023, was achieved prior to the change in the Fund’s investment objective and principal investment strategies. In addition, the Fund’s benchmark has changed from MSCI EAFE Index to MSCI World ex-USA.
Documents
Literature
| Prospectus | Download | |
| Summary Prospectus | Download | |
| Statement of Additional Information | Download | |
| Download All | Download |
Downloads
| Performance | Download | |
| Portfolio Composition | Download | |
| Download All | Download |
Investor Information
| NAVs and Distributions | Download | |
| Download All | Download |
Document Library
Risks
Risks associated with investing in the Fund may include: (1) Market Risk - Equities: The market price of an equity may decline due to factors affecting the issuer or its industry or the economy and equity markets generally. Declines in stock market prices generally are likely to reduce the net asset value of the Fund's shares. (2) Non-U.S. Investment Risk: The market prices of many non-U.S. securities (particularly of companies tied economically to emerging countries) fluctuate more than those of U.S. securities. Many non-U.S. markets (particularly emerging markets) are less stable, smaller, less liquid, and less regulated than U.S. markets, and the cost of trading in those markets often is higher than it is in U.S. markets. (3) Management and Operational Risk: The risk that GMO's investment techniques will fail to produce desired results. (4) Currency Risk: Fluctuations in exchange rates can adversely affect the market value of the Fund's foreign currency holdings and investments denominated in foreign currencies. For a more complete discussion of these risks and others, please consult the Fund's prospectus.
Disclosures
An investor should consider the fund’s investment objectives, risks, charges and expenses before investing. This and other important information can be found in the fund’s prospectus. Read the prospectus carefully before investing. Please see prospectus above.
The GMO Trust funds are distributed in the United States by Funds Distributor LLC. GMO and Funds Distributor LLC are not affiliated.