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Overview

The GMO International Opportunistic Value Fund seeks to generate total return by investing primarily in international equities. The Fund measures its performance against the MSCI World ex-U.S.A. Value Index. 

The Fund aims to profit from our Asset Allocation team’s top-down insights as to the most attractively valued segment of developed markets outside the U.S. Currently, the team finds developed, non-U.S. “deep value” (cheapest 20%) stocks to be 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

Doc Table
Fund Inception Date July 29, 1998
CUSIP 362008666
Fund Total Assets as of 31/10/2024 $406mm USD

Share Class III

Inception Date July 29, 1998
Ticker Symbol GTMIX
CUSIP 362008666
NAV as of 20/11/2024 15.16
Net Expense Ratio 1 0.68
Gross Expense Ratio 2 0.80
Minimum Investment Size $1mm in GMO

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, %) | Int'l. Opportunistic Value Fund-III

Table Caption
1-Year 3-Year 5-Year 10-Year ITD
International Opportunistic Value Fund 22.09 7.19 9.61 4.67 6.21
MSCI World ex USA Value 23.90 9.14 8.51 4.69 5.21
MSCI World ex USA 24.98 5.65 8.36 5.68 4.99
  • International Opportunistic Value Fund 1
  • MSCI World ex USA Value
  • MSCI World ex USA

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.

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. 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. The Index used for performance reporting purposes changed from MSCI World ex-USA to MSCI World ex-USA Value effective June 30th, 2024.

Quarter-End as of September 30, 2024(USD, %) | Int'l. Opportunistic Value Fund-III

Table Caption
QTD YTD 1-Year 3-Year 5-Year 10-Year ITD
International Opportunistic Value Fund 9.59 13.46 22.09 7.19 9.61 4.67 6.21
MSCI World ex USA Value 9.69 14.12 23.90 9.14 8.51 4.69 5.21
MSCI World ex USA 7.76 13.10 24.98 5.65 8.36 5.68 4.99
  • International Opportunistic Value Fund 1
  • MSCI World ex USA Value
  • MSCI World ex USA

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.

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. 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. The Index used for performance reporting purposes changed from MSCI World ex-USA to MSCI World ex-USA Value effective June 30th, 2024.

Quarter-End as of September 30, 2024(USD, %) | Int'l. Opportunistic Value Fund-III

Table Caption
QTD YTD 1-Year 3-Year 5-Year 10-Year ITD
International Opportunistic Value Fund 9.77 14.04 22.92 7.92 10.39 5.42 6.94
MSCI World ex USA Value 9.69 14.12 23.90 9.14 8.51 4.69 5.21
MSCI World ex USA 7.76 13.10 24.98 5.65 8.36 5.68 4.99
  • International Opportunistic Value Fund 1
  • MSCI World ex USA Value
  • MSCI World ex USA

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.

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. 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. The Index used for performance reporting purposes changed from MSCI World ex-USA to MSCI World ex-USA Value effective June 30th, 2024.

Month-End as of October 31, 2024(USD, %) | Int'l. Opportunistic Value Fund-III

Table Caption
MTD QTD YTD 1-Year 3-Year 5-Year 10-Year ITD
International Opportunistic Value Fund -4.58 -4.58 8.27 22.00 4.95 7.72 4.39 6.00
MSCI World ex USA Value -4.48 -4.48 9.01 23.93 6.70 6.82 4.45 5.01
MSCI World ex USA -5.10 -5.10 7.33 23.84 2.81 6.55 5.29 4.76
  • International Opportunistic Value Fund 1
  • MSCI World ex USA Value
  • MSCI World ex USA

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.

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. 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. The Index used for performance reporting purposes changed from MSCI World ex-USA to MSCI World ex-USA Value effective June 30th, 2024.

Month-End as of October 31, 2024(USD, %) | Int'l. Opportunistic Value Fund-III

Table Caption
MTD QTD YTD 1-Year 3-Year 5-Year 10-Year ITD
International Opportunistic Value Fund -4.52 -4.52 8.89 22.83 5.67 8.49 5.13 6.73
MSCI World ex USA Value -4.48 -4.48 9.01 23.93 6.70 6.82 4.45 5.01
MSCI World ex USA -5.10 -5.10 7.33 23.84 2.81 6.55 5.29 4.76
  • International Opportunistic Value Fund 1
  • MSCI World ex USA Value
  • MSCI World ex USA

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.

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. 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. The Index used for performance reporting purposes changed from MSCI World ex-USA to MSCI World ex-USA Value effective June 30th, 2024.

Year Ending December 31 (USD, %) | Int'l. Opportunistic Value Fund-III

Calendar
International Opportunistic Value Fund MSCI World ex USA Value MSCI World ex USA
2023 17.88 18.48 17.94
2022 -9.85 -5.64 -14.29
2021 10.79 13.26 12.62
2020 7.50 -3.22 7.59
2019 23.31 17.02 22.49
2018 -21.24 -15.06 -14.09
2017 28.44 21.04 24.21
2016 -0.36 7.39 2.75
2015 -5.35 -7.68 -3.04
2014 -7.54 -5.41 -4.32
  • International Opportunistic Value Fund 1
  • MSCI World ex USA Value
  • MSCI World ex USA

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.

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. 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. The Index used for performance reporting purposes changed from MSCI World ex-USA to MSCI World ex-USA Value effective June 30th, 2024.

Year Ending December 31 (USD, %) | Int'l. Opportunistic Value Fund-III

Calendar
International Opportunistic Value Fund MSCI World ex USA Value MSCI World ex USA
2023 18.69 18.48 17.94
2022 -9.24 -5.64 -14.29
2021 11.59 13.26 12.62
2020 8.32 -3.22 7.59
2019 24.29 17.02 22.49
2018 -20.59 -15.06 -14.09
2017 29.31 21.04 24.21
2016 0.31 7.39 2.75
2015 -4.72 -7.68 -3.04
2014 -6.92 -5.41 -4.32
  • International Opportunistic Value Fund 1
  • MSCI World ex USA Value
  • MSCI World ex USA

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.

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. 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. The Index used for performance reporting purposes changed from MSCI World ex-USA to MSCI World ex-USA Value effective June 30th, 2024.

Documents

Literature

Fact Sheet Download
Prospectus Download
Summary Prospectus Download
Statement of Additional Information Download
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Downloads

Performance Download
Portfolio Composition Download
Holdings 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

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

Risks

Risks associated with investing in the Fund may include: (1) 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. (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, including annualized returns and annualized volatility.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.