Overview

The GMO SGM Major Markets Investment Fund’s investment objective is long-term total return. Over a complete market cycle, the Fund seeks annualized returns of 5% (gross of fees) above the FTSE 3-Month Treasury Bill Index with annualized volatility (standard deviation) of approximately 6-10%. The Fund takes both long and short positions in a range of global equity, bond, currency, and commodity markets using exchange-traded futures and forward foreign exchange contracts, as well as by making other investments.

The Systematic Global Macro team’s investment process systematically applies value and sentiment strategies across global markets. We believe that markets are inefficient but, in the long term, that economic reality will prevail and markets will revert toward fair value; however, the timing of this is uncertain. We aim to profit from mean reversion by buying markets that we believe are depressed in price and shorting markets that we believe are trading at inflated values. To deal with the uncertainty of timing, we model investor sentiment. Using sentiment helps us avoid buying inexpensive assets too early and closing winning positions too quickly.

Facts

Doc Table
Fund Inception Date February 1, 2017
Fund Total Assets as of 30/06/2020 $183mm USD
Benchmark FTSE 3-Mo. TBill

USD Class D

Inception Date September 20, 2017
SEDOL BD39855
ISIN IE00BD398558
NAV as of 31/07/2020 20.67

Performance

Quarter-End as of June 30, 2020(USD, %) | SGM Major Markets Investment Fund USD

Table Caption
QTD YTD 1-Year ITD
SGM Major Markets Investment Fund -0.44 -0.15 -0.25 0.43
FTSE 3-Mo. TBill 0.14 0.52 1.56 1.78
  • SGM Major Markets Investment Fund
  • FTSE 3-Mo. TBill

Inception Date: September 20, 2017

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 June 30, 2020(USD, %) | SGM Major Markets Investment Fund USD

Table Caption
QTD YTD 1-Year ITD
SGM Major Markets Investment Fund -0.22 0.31 0.67 1.35
FTSE 3-Mo. TBill 0.14 0.52 1.56 1.78
  • SGM Major Markets Investment Fund
  • FTSE 3-Mo. TBill

Inception Date: September 20, 2017

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 June 30, 2020(USD, %) | SGM Major Markets Investment Fund USD

Table Caption
MTD QTD YTD 1-Year ITD
SGM Major Markets Investment Fund 0.70 -0.44 -0.15 -0.25 0.43
FTSE 3-Mo. TBill 0.01 0.14 0.52 1.56 1.78
  • SGM Major Markets Investment Fund
  • FTSE 3-Mo. TBill

Inception Date: September 20, 2017

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 June 30, 2020(USD, %) | SGM Major Markets Investment Fund USD

Table Caption
MTD QTD YTD 1-Year ITD
SGM Major Markets Investment Fund 0.77 -0.22 0.31 0.67 1.35
FTSE 3-Mo. TBill 0.01 0.14 0.52 1.56 1.78
  • SGM Major Markets Investment Fund
  • FTSE 3-Mo. TBill

Inception Date: September 20, 2017

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.

Year Ending December 31 (USD, %) | SGM Major Markets Investment Fund USD

Calendar
SGM Major Markets Investment Fund FTSE 3-Mo. TBill
2019 2.37 2.25
2018 -1.10 1.86
2017 0.10 0.31
  • SGM Major Markets Investment Fund
  • FTSE 3-Mo. TBill

Inception Date: September 20, 2017

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.

Year Ending December 31 (USD, %) | SGM Major Markets Investment Fund USD

Calendar
SGM Major Markets Investment Fund FTSE 3-Mo. TBill
2019 3.31 2.25
2018 -0.19 1.86
2017 0.36 0.31
  • SGM Major Markets Investment Fund
  • FTSE 3-Mo. TBill

Inception Date: September 20, 2017

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

Fact Sheet Download
Prospectus Download
Prospectus - Austrian Wrapper Dec 2018 Download
Prospectus - First Supplement Download
Prospectus - Fourth Supplement Download
Prospectus - Second Supplement Download
Prospectus - Singapore Wrapper Jul 2020 Download
Prospectus - Third Supplement Download
Prospectus - UAE Wrapper Dec 2018 Download
Prospectus - Abu Dhabi Global Market Wrapper Dec 2018 Download
Prospectus - DIFC Wrapper Dec 2018 Download
Prospectus - DIFC Wrapper Feb 2018 Download
Prospectus - UK Country Supplement Feb 2019 Download
Prospectus - UK Country Supplement Mar 2018 Download
KIIDs - AUD Download
KIIDs - CAD Download
KIIDs - CHF Download
KIIDs - EUR Download
KIIDs - GBP Download
KIIDs - JPY Download
KIIDs - USD Download
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Downloads

Performance Download
Portfolio Composition Download
Holdings Download
Exposures - Detailed Download
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Commentary & Attribution

Commentary - Monthly Download
Commentary - Quarterly Download
Attribution - Monthly Download
Download All Download

Investor Information

Risks

Risks associated with investing in the Fund may include Management and Operational Risk, Market Risk - Equity Securities, Currency Risk, Commodities Risk, and Futures Contracts Risk. For a more complete discussion of these risks and others, please consult the Fund's prospectus.

Disclosures

The making available of any document on this website does not constitute a promotion, offer or sale of any securities, financial instruments, or other financial products to the public in or into any jurisdiction where such promotion, offer or sale is prohibited or to any person or class of person to whom such securities or financial instruments may not be lawfully promoted, offered or sold. You should not rely on any document on this website in making any decision to engage in investment activity without seeking further information from GMO to enable GMO to determine whether you may be eligible to receive such further information or purchase or subscribe for any securities or other financial instruments.