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GMO is a global investment management firm committed to providing sophisticated clients with superior asset management solutions. Our sole business is investment management and, as a private partnership, we are accountable only to our clients and to ourselves. We forge strong partnerships with our clients, managing their money as if it were our own and offering them honest counsel. Our deep and talented investment teams are highly experienced and forward-thinking, investing with focused expertise in a wide range of asset classes.

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  • Investment Results: We believe that valuation-driven investing with a long horizon will achieve the best risk-adjusted returns.
  • In-Depth Analysis and Research: We combine rigorous fundamental analysis with innovative quantitative methods to understand the long-term drivers of returns.
  • Our Clients: We provide our clients with candid investment advice.
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Research & Commentary
GMO-Quarterly-Letter-image_trim GMO Quarterly Letter

Emerging equities are more volatile than developed market equities. This owes little to the volatility of emerging stock markets in local terms and much more to the strong positive correlation between their local stock markets and movements in their currencies. The spring of 2018 was a classic example of this, with USD strength driving significant emerging weakness. Emerging markets do exhibit momentum, so it would not be odd for the weakness to persist for another quarter, although after transaction costs the momentum effect is probably not capturable. Our analysis of the underlying fundamentals for emerging markets, on the other hand, gives us confidence that the assumptions behind our forecasts are sound and emerging value stocks represent the most attractive asset we can find by a large margin, and in the longer term we believe valuation is much more predictive of returns for emerging than momentum is.

GMO Updates
Recent Research & Commentary
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Featured Video
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GMO Climate Change Strategy
Lucas White, Lead Portfolio Manager for the GMO Climate Change Strategy, highlights the tremendous opportunities we see in the climate change sector today. In navigating a sector likely to be rife with hype and stories, a disciplined, value-oriented approach and careful examination of fundamentals are critical to the process.

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The Race of our Lives Revisited
Jeremy Grantham warns of the long-term, slow-burning problems that threaten us today including climate change, population growth, increasing environmental toxicity.

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