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U.S. Equity Fund

  • Vehicle Mutual Fund
  • Asset Class Equities

Overview

The GMO U.S. Equity Fund seeks to generate high total return by investing primarily in U.S. equities. The Fund’s benchmark is the Russell 3000 Index.

The Fund’s investment approach is grounded in the Global Equity team’s belief that, in the short term, equity markets exhibit exploitable inefficiencies as a result of irrational investor actions, the imperfect flow of information, and the participation of non-economic actors, while in the long term returns are ultimately driven by economic reality. The Fund aims to take advantage of this inefficiency by utilizing a multi-factor valuation model in conjunction with other methods, such as cross-asset signals and corporate alerts, to identify mispriced equity securities.

Facts

Doc Table
Fund Inception Date September 18, 1985
Fund Total Assets as of 10/31/2019 $583mm USD
Benchmark Russell 3000

Share Class III

Inception Date September 16, 2005
Ticker Symbol GMUEX
CUSIP 362013658
NAV as of 11/11/2019 13.89
Net Expense Ratio 1 0.46
Gross Expense Ratio 2 0.49
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, 2020. 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, 2019.

Performance

Quarter-End as of September 30, 2019(USD, %) | U.S. Equity Fund-III

Table Caption
1-Year 3-Year 5-Year 10-Year ITD
U.S. Equity Fund 3.02 10.79 8.67 11.58 10.86
Russell 3000 2.92 12.84 10.45 13.08 10.94
  • U.S. Equity Fund 1
  • Russell 3000

Inception Date: September 18, 1985

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 Performance information presented is that of Class III shares of GMO U.S. Core Fund for all periods ending on or before September 16, 2005.

Quarter-End as of September 30, 2019(USD, %) | U.S. Equity Fund-III

Table Caption
QTD YTD 1-Year 3-Year 5-Year 10-Year ITD
U.S. Equity Fund 2.12 19.96 3.02 10.79 8.67 11.58 10.86
Russell 3000 1.16 20.09 2.92 12.84 10.45 13.08 10.94
  • U.S. Equity Fund 1
  • Russell 3000

Inception Date: September 18, 1985

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 Performance information presented is that of Class III shares of GMO U.S. Core Fund for all periods ending on or before September 16, 2005.

Quarter-End as of September 30, 2019(USD, %) | U.S. Equity Fund-III

Table Caption
QTD YTD 1-Year 3-Year 5-Year 10-Year ITD
U.S. Equity Fund 2.24 20.37 3.50 11.30 9.17 12.09 11.38
Russell 3000 1.16 20.09 2.92 12.84 10.45 13.08 10.94
  • U.S. Equity Fund 1
  • Russell 3000

Inception Date: September 18, 1985

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 Performance information presented is that of Class III shares of GMO U.S. Core Fund for all periods ending on or before September 16, 2005.

Month-End as of October 31, 2019(USD, %) | U.S. Equity Fund-III

Table Caption
MTD QTD YTD 1-Year 3-Year 5-Year 10-Year ITD
U.S. Equity Fund 1.26 1.26 21.48 12.88 12.15 8.58 11.72 10.87
Russell 3000 2.15 2.15 22.68 13.49 14.48 10.32 13.62 10.98
  • U.S. Equity Fund 1
  • Russell 3000

Inception Date: September 18, 1985

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 Performance information presented is that of Class III shares of GMO U.S. Core Fund for all periods ending on or before September 16, 2005.

Month-End as of October 31, 2019(USD, %) | U.S. Equity Fund-III

Table Caption
MTD QTD YTD 1-Year 3-Year 5-Year 10-Year ITD
U.S. Equity Fund 1.30 1.30 21.94 13.40 12.67 9.08 12.23 11.40
Russell 3000 2.15 2.15 22.68 13.49 14.48 10.32 13.62 10.98
  • U.S. Equity Fund 1
  • Russell 3000

Inception Date: September 18, 1985

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 Performance information presented is that of Class III shares of GMO U.S. Core Fund for all periods ending on or before September 16, 2005.

Year Ending December 31 (USD, %) | U.S. Equity Fund-III

Calendar
U.S. Equity Fund Russell 3000
2018 -9.78 -5.24
2017 18.46 21.13
2016 13.58 12.74
2015 0.65 0.48
2014 9.27 12.56
2013 29.61 33.55
2012 12.81 16.42
2011 8.07 1.03
2010 8.82 16.93
2009 21.23 28.34
  • U.S. Equity Fund 1
  • Russell 3000

Inception Date: September 18, 1985

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 Performance information presented is that of Class III shares of GMO U.S. Core Fund for all periods ending on or before September 16, 2005.

Year Ending December 31 (USD, %) | U.S. Equity Fund-III

Calendar
U.S. Equity Fund Russell 3000
2018 -9.36 -5.24
2017 19.00 21.13
2016 14.10 12.74
2015 1.11 0.48
2014 9.77 12.56
2013 30.20 33.55
2012 13.32 16.42
2011 8.57 1.03
2010 9.32 16.93
2009 21.79 28.34
  • U.S. Equity Fund 1
  • Russell 3000

Inception Date: September 18, 1985

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 Performance information presented is that of Class III shares of GMO U.S. Core Fund for all periods ending on or before September 16, 2005.

Management

Harris_Simon

Simon Harris

Head of Global Equity (interim)

Mr. Harris is the interim head of GMO’s Global Equity team. In his decades at GMO, Simon has had extensive portfolio management, quantitative research, and team leadership experience including as the head of the UK Equity team prior to its merger with Global Equity. Previously, he also served as co-CEO of GMO UK Ltd. Prior to joining GMO in 1989, he earned his BSc in Mathematics from The City University (London). Mr. Harris is a Fellow of The Chartered Institute for Securities & Investment.

White_Josh

Josh White

Portfolio Manager

Dr. White is a quantitative analyst for GMO’s Global Equity team. Prior to joining GMO in 2015, he worked at Acadian Asset Management as a senior vice president working on quantitative research and portfolio management across much of their product line. Previously, he worked at the SEC where, in addition to other responsibilities, he was involved with disclosure and governance issues. Dr. White earned his A.B. in Economics from Harvard University and his Ph.D. in Business Economics from Harvard University.

Documents

Literature

Fact Sheet
Prospectus
Summary Prospectus
Statement of Additional Information
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Downloads

Performance
Portfolio Composition
Holdings
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Commentary & Attribution

Commentary - Quarterly
Market Review
Attribution - Monthly
Attribution - Quarterly
Attribution - YTD
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Investor Information

Annual Report
Semiannual Report
NAVs and Distributions
Distribution Dates
Summary Distribution (Prior Year) GMO Trust
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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) Management and Operational Risk: The risk that GMO's investment techniques will fail to produce desired results. (3) 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. 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.

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