Overview

Usonian Japan Value Creation Fund seeks total return over a full market cycle and measures its performance against the TOPIX Total Return Index (the “Index”) for performance comparison purposes. The Fund employs a fundamental, value-oriented approach to invest in Japanese equities or companies tied economically to Japan.

In managing the Fund, the Usonian Japan Equity team follows a disciplined, bottom-up approach using fundamental research to identify equities that we believe are undervalued and profitable with high quality balance sheets. The team spends considerable time developing a high level of knowledge about our companies and focusing on downside risk. Additionally, as long-term investors, we engage collaboratively with corporate management to unlock shareholder value.

Facts

Doc Table
Fund Inception Date September 14, 2020
Fund Total Assets as of 10/31/2020 $151mm USD

Share Class VI

Inception Date September 14, 2020
CUSIP 36256V643
NAV as of 11/25/2020 21.97
Net Expense Ratio 1 0.64
Gross Expense Ratio 2 1.55
Minimum Investment Size $300mm in Fund / $750mm in GMO

1 Net Expense Ratio reflects the reduction of expenses from fee reimbursements. The fee reimbursements will continue until at least June 30, 2021. 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, 2020.

Performance

Quarter-End as of September 30, 2020(USD, %)

Table Caption
ITD
Usonian Japan Value Creation Fund -0.15
Tokyo Stock Price Index (TR) -0.73
MSCI Japan Value -3.06
  • Usonian Japan Value Creation Fund
  • Tokyo Stock Price Index (TR)
  • MSCI Japan Value

Inception Date: September 14, 2020

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.

Quarter-End as of September 30, 2020(USD, %)

Table Caption
QTD YTD ITD
Usonian Japan Value Creation Fund -0.15 -0.15 -0.15
Tokyo Stock Price Index (TR) -0.73 -0.73 -0.73
MSCI Japan Value -3.06 -3.06 -3.06
  • Usonian Japan Value Creation Fund
  • Tokyo Stock Price Index (TR)
  • MSCI Japan Value

Inception Date: September 14, 2020

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, 2020(USD, %)

Table Caption
QTD YTD ITD
Usonian Japan Value Creation Fund -0.13 -0.13 -0.13
Tokyo Stock Price Index (TR) -0.73 -0.73 -0.73
MSCI Japan Value -3.06 -3.06 -3.06
  • Usonian Japan Value Creation Fund
  • Tokyo Stock Price Index (TR)
  • MSCI Japan Value

Inception Date: September 14, 2020

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, 2020(USD, %)

Table Caption
MTD QTD YTD ITD
Usonian Japan Value Creation Fund -2.00 -2.00 -2.15 -2.15
Tokyo Stock Price Index (TR) -1.92 -1.92 -2.63 -2.63
MSCI Japan Value -1.75 -1.75 -4.75 -4.75
  • Usonian Japan Value Creation Fund
  • Tokyo Stock Price Index (TR)
  • MSCI Japan Value

Inception Date: September 14, 2020

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, 2020(USD, %)

Table Caption
MTD QTD YTD ITD
Usonian Japan Value Creation Fund -1.96 -1.96 -2.08 -2.08
Tokyo Stock Price Index (TR) -1.92 -1.92 -2.63 -2.63
MSCI Japan Value -1.75 -1.75 -4.75 -4.75
  • Usonian Japan Value Creation Fund
  • Tokyo Stock Price Index (TR)
  • MSCI Japan Value

Inception Date: September 14, 2020

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

Literature

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

Attribution - Monthly Download
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Investor Information

NAVs and Distributions Download
Distribution Dates Download
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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.