Overview

The GMO Global Real Return (UCITS) Fund seeks to achieve a return in excess of that of its benchmark, the OECD G7 Consumer Price Index, by allocating dynamically across asset classes, free from the constraints of traditional benchmarks. The Fund seeks annualized excess returns of 5% (net of fees) above the OECD G7 Consumer Price Index, over a complete market cycle.

The philosophy that underlies all of GMO’s Asset Allocation investment strategies is the belief that, at times and in the short term, the pricing of asset classes can deviate from true intrinsic value, but mean reverts to appropriate valuation levels over the long term. GMO’s proprietary 7-Year Asset Class Forecasts form the foundation of our investment process, providing a framework to assess the return opportunity embedded in different asset classes. We use that insight to allocate to what we believe are the most attractively priced asset classes. GMO’s Asset Allocation approach is flexible, not pre-determined by static allocations or benchmark-related ranges, constrained only by our unwillingness to overpay for an asset. We also seek to add value through security selection within both traditional and alternative asset classes.

Facts

Doc Table
Fund Inception Date November 30, 2011
Benchmark OECD CPI G7 (NOK)
Fund Total Assets as of 31/10/2024 $481mm USD

NOK Class A

Inception Date September 12, 2018
SEDOL BFD3VX0
ISIN IE00BFD3VX02
NAV as of 20/11/2024 229.15

Performance

Quarter-End as of September 30, 2024(NOK, %) | Global Real Return (UCITS) Fund NOA

Table Caption
QTD YTD 1-Year 3-Year 5-Year ITD
Global Real Return (UCITS) Fund 3.47 7.38 12.97 3.97 3.37 3.03
OECD CPI G7 (NOK) 0.30 2.35 2.17 4.58 3.74 3.33
  • Global Real Return (UCITS) Fund
  • OECD CPI G7 (NOK)

Inception Date: September 12, 2018

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.

Quarter-End as of September 30, 2024(NOK, %) | Global Real Return (UCITS) Fund NOA

Table Caption
QTD YTD 1-Year 3-Year 5-Year ITD
Global Real Return (UCITS) Fund 3.71 8.11 13.99 4.93 4.31 3.97
OECD CPI G7 (NOK) 0.30 2.35 2.17 4.58 3.74 3.33
  • Global Real Return (UCITS) Fund
  • OECD CPI G7 (NOK)

Inception Date: September 12, 2018

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.

Month-End as of October 31, 2024(NOK, %) | Global Real Return (UCITS) Fund NOA

Table Caption
MTD QTD YTD 1-Year 3-Year 5-Year ITD
Global Real Return (UCITS) Fund -3.17 -3.17 3.98 12.88 3.44 2.37 2.45
OECD CPI G7 (NOK) 0.00 0.00 2.35 2.10 4.35 3.70 3.29
  • Global Real Return (UCITS) Fund
  • OECD CPI G7 (NOK)

Inception Date: September 12, 2018

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.

Month-End as of October 31, 2024(NOK, %) | Global Real Return (UCITS) Fund NOA

Table Caption
MTD QTD YTD 1-Year 3-Year 5-Year ITD
Global Real Return (UCITS) Fund -3.09 -3.09 4.77 13.91 4.39 3.30 3.38
OECD CPI G7 (NOK) 0.00 0.00 2.35 2.10 4.35 3.70 3.29
  • Global Real Return (UCITS) Fund
  • OECD CPI G7 (NOK)

Inception Date: September 12, 2018

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.

Year Ending December 31 (NOK, %) | Global Real Return (UCITS) Fund NOA

Calendar
Global Real Return (UCITS) Fund OECD CPI G7 (NOK)
2023 10.12 3.25
2022 -4.22 6.81
2021 2.28 5.59
2020 -3.28 0.70
2019 9.71 1.83
2018 -2.52 -0.22
  • Global Real Return (UCITS) Fund
  • OECD CPI G7 (NOK)

Inception Date: September 12, 2018

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.

Year Ending December 31 (NOK, %) | Global Real Return (UCITS) Fund NOA

Calendar
Global Real Return (UCITS) Fund OECD CPI G7 (NOK)
2023 11.13 3.25
2022 -3.33 6.81
2021 3.21 5.59
2020 -2.40 0.70
2019 10.67 1.83
2018 -2.26 -0.22
  • Global Real Return (UCITS) Fund
  • OECD CPI G7 (NOK)

Inception Date: September 12, 2018

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.

Documents

Downloads

Performance Download
Portfolio Composition Download
Currency Exposures Download
Holdings Download
Holdings - Enhanced Download
Download All Download

Commentary & Attribution

Commentary Quarterly Download
Attribution - Monthly Download
Attribution - Quarterly Download
Attribution - YTD Download
Download All Download

Investor Information

Annual Report Download
Semiannual Report Download
NAVs and Distributions Download
Fair Value Hierarchy - As of 30/09/23 Download
Fair Value Hierarchy - As of 31/03/24 Download
Download All Download

Risks

Risks associated with investing in the Fund may include: (1) Management and Operational Risk: The risk that GMO's investment techniques will fail to produce desired results, including annualized returns and annualized volatility. (2) Market Risk - Equities: The market price of equities may decline due to factors affecting the issuer, its industries, 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. (3) 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.For a more complete discussion of these risks and others, please consult the Fund's Prospectus.

Disclosures

The making available of any document on this website does not constitute a promotion, offer or sale of any securities, financial instruments, or other financial products to the public in or into any jurisdiction where such promotion, offer or sale is prohibited or to any person or class of person to whom such securities or financial instruments may not be lawfully promoted, offered or sold. You should not rely on any document on this website in making any decision to engage in investment activity without seeking further information from GMO to enable GMO to determine whether you may be eligible to receive such further information or purchase or subscribe for any securities or other financial instruments.

This product is based overseas and is not subject to the UK sustainable investment labelling and disclosure requirements. Please refer to the UK Financial Conduct Authority webpage for more information: https://www.fca.org.uk/consumers/sustainable-investment-labels-greenwashing