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Overview

The GMO Resources Fund seeks to deliver total return by investing in the equities of companies in the natural resources sector. Long-term supply and demand dynamics in natural resource markets favor upward price trends – demand growth is being driven by population growth and the development of emerging markets, while supplies of cheap, easy to access natural resources are declining. To harness this trend, we focus on identifying companies in public equity markets that we believe will benefit from a broad rise in resource prices, across a diversified portfolio of energy, metals, agriculture, and water. 

We can invest globally across the capitalization spectrum, including emerging markets, which allows us to identify attractive investment opportunities wherever they may be. 

Facts

Doc Table
Fund Inception Date December 28, 2011
CUSIP 362014102
Fund Total Assets as of 31/10/2024 $1.8bn USD

Share Class I

Inception Date January 22, 2021
Ticker Symbol GEACX
CUSIP 36256V775
NAV as of 25/11/2024 20.39
Net Expense Ratio 1 0.85
Gross Expense Ratio 2 0.85

1 Net Expense Ratio reflects the reduction of expenses from fee reimbursements. The fee reimbursements will continue until at least June 30, 2025. 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, 2024.

Performance

Quarter-End as of September 30, 2024(USD, %) | Resources Fund-I

Table Caption
1-Year 3-Year ITD
Resources Fund -6.86 -2.02 0.17
MSCI ACWI Commodity Producers 4.81 11.81 13.30
  • Resources Fund 1
  • MSCI ACWI Commodity Producers

Inception Date: January 22, 2021

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.

1 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. The portfolio is not managed relative to a benchmark. References to an index are for informational purposes only.

Quarter-End as of September 30, 2024(USD, %) | Resources Fund-I

Table Caption
QTD YTD 1-Year 3-Year ITD
Resources Fund 0.17 -8.24 -6.86 -2.02 0.17
MSCI ACWI Commodity Producers 0.63 4.83 4.81 11.81 13.30
  • Resources Fund 1
  • MSCI ACWI Commodity Producers

Inception Date: January 22, 2021

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.

1 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. The portfolio is not managed relative to a benchmark. References to an index are for informational purposes only.

Quarter-End as of September 30, 2024(USD, %) | Resources Fund-I

Table Caption
QTD YTD 1-Year 3-Year ITD
Resources Fund 0.38 -7.66 -6.08 -1.21 0.99
MSCI ACWI Commodity Producers 0.63 4.83 4.81 11.81 13.30
  • Resources Fund 1
  • MSCI ACWI Commodity Producers

Inception Date: January 22, 2021

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.

1 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. The portfolio is not managed relative to a benchmark. References to an index are for informational purposes only.

Month-End as of October 31, 2024(USD, %) | Resources Fund-I

Table Caption
MTD QTD YTD 1-Year 3-Year ITD
Resources Fund -4.66 -4.66 -12.51 -2.03 -5.94 -1.09
MSCI ACWI Commodity Producers -3.04 -3.04 1.64 6.88 8.71 12.06
  • Resources Fund 1
  • MSCI ACWI Commodity Producers

Inception Date: January 22, 2021

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.

1 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. The portfolio is not managed relative to a benchmark. References to an index are for informational purposes only.

Month-End as of October 31, 2024(USD, %) | Resources Fund-I

Table Caption
MTD QTD YTD 1-Year 3-Year ITD
Resources Fund -4.58 -4.58 -11.89 -1.21 -5.15 -0.28
MSCI ACWI Commodity Producers -3.04 -3.04 1.64 6.88 8.71 12.06
  • Resources Fund 1
  • MSCI ACWI Commodity Producers

Inception Date: January 22, 2021

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.

1 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. The portfolio is not managed relative to a benchmark. References to an index are for informational purposes only.

Year Ending December 31 (USD, %) | Resources Fund-I

Calendar
Resources Fund MSCI ACWI Commodity Producers
2023 -1.56 3.64
2022 -0.18 21.08
2021 11.60 20.50
  • Resources Fund 1
  • MSCI ACWI Commodity Producers

Inception Date: January 22, 2021

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.

1 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. The portfolio is not managed relative to a benchmark. References to an index are for informational purposes only.

Year Ending December 31 (USD, %) | Resources Fund-I

Calendar
Resources Fund MSCI ACWI Commodity Producers
2023 -0.74 3.64
2022 0.64 21.08
2021 12.42 20.50
  • Resources Fund 1
  • MSCI ACWI Commodity Producers

Inception Date: January 22, 2021

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.

1 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. The portfolio is not managed relative to a benchmark. References to an index are for informational purposes only.

Documents

Literature

Fact Sheet Download
Product Profile Download
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Downloads

Performance Download
Portfolio Composition Download
Segment Weights Download
Holdings Download
Holdings - Public Download
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Commentary & Attribution

Commentary Quarterly Download
Attribution - Monthly Download
Attribution - Quarterly Download
Attribution - YTD Download
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Investor Information

Annual Report Download
Semi-Annual Financial Statements and Other Information Download
Semi-Annual Report Download
NAVs and Distributions Download
Tax-Related Distribution Information Download
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Document Library

Risks

Risks associated with investing in the Fund may include: (1) Focused Investment Risk: The Fund invests its assets in the securities of a limited number of issuers, and a decline in the market price of a particular security held by the Fund may affect the Fund's performance more than if the Fund invested in the securities of a larger number of issuers. (2) Commodities Risk: Commodity prices can be extremely volatile, and exposure to commodities can cause the value of the Fund's shares to decline or fluctuate more than if the Fund had a broader range of investments. (3) 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.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.

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.

The GMO Trust funds are distributed in the United States by Funds Distributor LLC. GMO and Funds Distributor LLC are not affiliated.