U.S. Opportunistic Value Fund

Skip

Start Investing Download Fact Sheet

Management

George Sakoulis

Head of Investment Teams, Head of Systematic Equity, Portfolio Manager

Dr. Sakoulis is the Head of Investment Teams at GMO, Head of GMO's Systematic Equity team, and a portfolio manager for GMO’s Systematic Equity products. Dr. Sakoulis is a partner of the firm. He previously worked at GMO from 2009 to 2014 leading quantitative research for GMO’s Emerging Markets Equity team. Prior to rejoining GMO in 2020, he was most recently a Managing Director and Head of Global Multi-Asset Solutions for QMA, where he focused on systematic total and absolute return investment solutions. Before that, he led QMA’s Global Portfolio Solutions group. Previously, Dr. Sakoulis also served as the Director of European Equity Strategies for Numeric Investors and as a Director for UBS O’Connor. He earned his bachelor's degree in Economics and Statistics from San Francisco State University and his MA in Economics and PhD in Financial Econometrics from the University of Washington.

Warren Chiang

Portfolio Manager, Systematic Equity

Mr. Chiang oversees portfolio management for GMO’s Systematic Equity team. He is a partner of the firm. Prior to joining GMO in 2015, he worked at Mellon Capital Management as a Managing Director of Active Equity Strategies. Previously, he worked at the Federal Reserve Bank of San Francisco as a research associate. Mr. Chiang earned his bachelor's degree in Economics and his MBA from the University of California Berkeley. He is a CFA charterholder.

Simon Harris

Portfolio Manager, Systematic Equity

Mr. Harris is engaged in portfolio management for GMO’s Systematic Equity team and is a partner of the firm. In his decades at GMO, Simon has had extensive portfolio management, quantitative research, and team leadership experience including as the head of the Systematic Equity and Global Equity teams, and 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.

Tara Oliver

Portfolio Manager

Ms. Oliver is engaged in portfolio management and research for GMO’s Systematic Equity team and is a partner of the firm. Prior to joining GMO in 1996, she was an associate in the investment company practice at Coopers & Lybrand Consulting. Ms. Oliver earned her bachelor's degree from Duke University and her MBA from the Amos Tuck School of Business Administration at Dartmouth College. She is a CFA charterholder and CFA certified in ESG Investing.

John Thorndike

Co-Head of Asset Allocation, Portfolio Manager

Mr. Thorndike is Co-Head of GMO’s Asset Allocation team and a portfolio manager for the team’s products. Mr. Thorndike is a partner of the firm. Mr. Thorndike currently oversees asset selection and portfolio construction decisions, as well as team management responsibilities. Prior to joining GMO in 2015, he was a managing director and Deputy CIO at The Investment Fund for Foundations. Previously, he was an analyst with TIFF. Mr. Thorndike earned his bachelor's degree in Physics from Bowdoin College.

Overview

The GMO U.S. Opportunistic Value Fund (the “Fund”) seeks to generate total return by investing primarily in U.S. equities. The Fund measures its performance against the MSCI U.S. Value Index.

GMO’s U.S. Opportunistic Value Fund seeks to profit from our Asset Allocation Team’s top-down insights as to the most attractively valued segment of the U.S. market. Currently, the team finds “deep value” (cheapest 20%) stocks to be truly dislocated in the U.S. This actively managed Fund avoids the “shallow value” stocks, which are expensive relative to their own history, and focuses solely on the deep value names. With this Fund we focus on the U.S. stocks that GMO’s Systematic Equity team identifies as the most undervalued, recognizing that relying on reported financials and index definitions of value can lead investors to misjudge the opportunity.

Facts

Doc Table
Fund Inception Date	December 13, 2022
CUSIP	36256V437
Fund Total Assets as of 30/09/2024	$561mm USD

Share Class VI

Inception Date	December 13, 2022
Ticker Symbol	UUOAX
CUSIP	36256V437
NAV as of 21/10/2024	24.03
Net Expense Ratio ¹	0.39
Gross Expense Ratio ²	0.43

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

Table Caption
	1-Year	ITD
U.S. Opportunistic Value Fund	27.91	15.62
MSCI USA Value (Gross)	29.57	13.57
MSCI USA (Gross)	36.22	24.21

Inception Date: December 13, 2022

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 Index used for performance reporting purposes changed from S&P Composite 1500 to MSCI U.S.A. Value effective June 30th, 2024.

Table Caption
	QTD	YTD	1-Year	ITD
U.S. Opportunistic Value Fund	6.37	15.36	27.91	15.62
MSCI USA Value (Gross)	9.70	17.94	29.57	13.57
MSCI USA (Gross)	5.93	21.69	36.22	24.21

Inception Date: December 13, 2022

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 Index used for performance reporting purposes changed from S&P Composite 1500 to MSCI U.S.A. Value effective June 30th, 2024.

Table Caption
	QTD	YTD	1-Year	ITD
U.S. Opportunistic Value Fund	6.47	15.70	28.40	16.06
MSCI USA Value (Gross)	9.70	17.94	29.57	13.57
MSCI USA (Gross)	5.93	21.69	36.22	24.21

Inception Date: December 13, 2022

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 Index used for performance reporting purposes changed from S&P Composite 1500 to MSCI U.S.A. Value effective June 30th, 2024.

Table Caption
	MTD	QTD	YTD	1-Year	ITD
U.S. Opportunistic Value Fund	0.93	6.37	15.36	27.91	15.62
MSCI USA Value (Gross)	1.74	9.70	17.94	29.57	13.57
MSCI USA (Gross)	2.15	5.93	21.69	36.22	24.21

Inception Date: December 13, 2022

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 Index used for performance reporting purposes changed from S&P Composite 1500 to MSCI U.S.A. Value effective June 30th, 2024.

Table Caption
	MTD	QTD	YTD	1-Year	ITD
U.S. Opportunistic Value Fund	0.96	6.47	15.70	28.40	16.06
MSCI USA Value (Gross)	1.74	9.70	17.94	29.57	13.57
MSCI USA (Gross)	2.15	5.93	21.69	36.22	24.21

Inception Date: December 13, 2022

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 Index used for performance reporting purposes changed from S&P Composite 1500 to MSCI U.S.A. Value effective June 30th, 2024.

Calendar
	U.S. Opportunistic Value Fund	MSCI USA Value (Gross)	MSCI USA (Gross)
2023	16.45	9.24	27.10
2022	-3.36	-2.41	-4.50

Inception Date: December 13, 2022

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 Index used for performance reporting purposes changed from S&P Composite 1500 to MSCI U.S.A. Value effective June 30th, 2024.

Calendar
	U.S. Opportunistic Value Fund	MSCI USA Value (Gross)	MSCI USA (Gross)
2023	16.89	9.24	27.10
2022	-3.34	-2.41	-4.50

Inception Date: December 13, 2022

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 Index used for performance reporting purposes changed from S&P Composite 1500 to MSCI U.S.A. Value effective June 30th, 2024.

Documents

Literature

Fact Sheet		Download
Summary Prospectus		Download
Download All		Download

Downloads

Performance		Download
Portfolio Composition		Download
Holdings		Download
Download All		Download

Commentary & Attribution

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

Investor Information

NAVs and Distributions		Download
Download All		Download

Document Library

Risks

Risks associated with investing in the Fund may include: (1) 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. (2) Commodities Risk: Commodity prices can be extremely volatile, and exposure to commodities can cause the value of the Fund's shares to decline or fluctuate more than if the Fund had a broader range of investments. (3) 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.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.