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Emerging Markets Series Fund

  • Vehicle Mutual Fund
  • Asset Class Equities

Overview

The GMO Emerging Markets Series Fund seeks to generate total return in excess of that of its benchmark, the MSCI Emerging Markets Index. 
The Fund is distinguished by an emphasis on both top-down country-sector allocation and value. The Emerging Markets Equity team believes that getting macroeconomic perspectives right in emerging equity markets is most important and that value wins over the long term. The team applies both quantitative and fundamental insights to evaluate countries, sectors, and stocks, using an investment process focused on value and also informed by quality and sentiment inputs. 

 

Facts

Doc Table
Fund Total Assets as of 2/28/2019 $15mm USD
Benchmark MSCI Emerging Markets

Share Class R6

Ticker Symbol GECRX
CUSIP 380131656
NAV as of 3/22/2019 9.61
Net Expense Ratio 1 0.96
Gross Expense Ratio 2 0.97

1 Net Expense Ratio reflects the reduction of expenses from fee reimbursements. The fee reimbursements will continue until at least June 30, 2019. 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, 2018.

Performance

Quarter-End as of December 31, 2018(USD, %) | GMO Emerging Markets Series Fund Class R6

Table Caption
1-Year 3-Year 5-Year 10-Year ITD
Emerging Markets Series Fund -12.92 10.82 1.57 6.87 6.89
MSCI Emerging Markets -14.58 9.25 1.65 8.02 5.69
  • Emerging Markets Series Fund 1 - 2
  • MSCI Emerging Markets

Inception Date: August 29, 1997

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 The inception date above refers to the inception date of the GMO Emerging Countries Fund. Class R6 shares were first offered on January 1, 2012. GMO Emerging Markets Series Fund is a feeder fund investing substantially all of its assets in shares of a corresponding master fund (i.e., a corresponding GMO Trust fund). Performance data quoted for GMO Emerging Markets Series Fund reflects the performance data of the corresponding GMO Trust master fund re-stated to reflect the fees and expenses associated with GMO Emerging Markets Series Fund. As of August 29, 2017, the Emerging Counties Series Fund changed its principal investment strategies from investing substantially all of its assets in Emerging Countries Fund to investing substantially all of its assets in Emerging Markets Fund , and performance of the Emerging Counties Series Fund for periods prior to August 29, 2017 reflects the Emerging Counties Series Funds principal investment strategies and annual operating expenses that were in effect at that time and may have been different had the Emerging Countries Series Funds revised principal investment strategies and annual operating expenses been in effect.

The Fund commenced operations on May 2, 2014. Returns prior to the date the Fund commenced operations are those of Emerging Countries Fund (Class III shares), adjusted to reflect the estimated gross operating expenses (on a percentage basis) expected to be borne by shareholders of each class of shares of the Fund determined as of the commencement of the Fund's operations. The effect of purchase premiums and redemption fees paid by the Fund to Emerging Markets Fund are not reflected for periods prior to the date on which the Fund commenced operations. If the effect of these payments were reflected, returns for periods prior to the date on which the Fund commenced operations would be less than those shown.

2 As of January 1, 2019, the Emerging Markets Series Fund changed its benchmark so that the Fund now seeks total return in excess of that of the MSCI Emerging Markets Index. The Fund formerly sought to outperform the S&P/IFCI Composite Index.

Quarter-End as of December 31, 2018(USD, %) | GMO Emerging Markets Series Fund Class R6

Table Caption
QTD YTD 1-Year 3-Year 5-Year 10-Year ITD
Emerging Markets Series Fund -7.21 -12.92 -12.92 10.82 1.57 6.87 6.89
MSCI Emerging Markets -7.47 -14.58 -14.58 9.25 1.65 8.02 5.69
  • Emerging Markets Series Fund 1 - 2
  • MSCI Emerging Markets

Inception Date: August 29, 1997

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 The inception date above refers to the inception date of the GMO Emerging Countries Fund. Class R6 shares were first offered on January 1, 2012. GMO Emerging Markets Series Fund is a feeder fund investing substantially all of its assets in shares of a corresponding master fund (i.e., a corresponding GMO Trust fund). Performance data quoted for GMO Emerging Markets Series Fund reflects the performance data of the corresponding GMO Trust master fund re-stated to reflect the fees and expenses associated with GMO Emerging Markets Series Fund. As of August 29, 2017, the Emerging Counties Series Fund changed its principal investment strategies from investing substantially all of its assets in Emerging Countries Fund to investing substantially all of its assets in Emerging Markets Fund , and performance of the Emerging Counties Series Fund for periods prior to August 29, 2017 reflects the Emerging Counties Series Funds principal investment strategies and annual operating expenses that were in effect at that time and may have been different had the Emerging Countries Series Funds revised principal investment strategies and annual operating expenses been in effect.

The Fund commenced operations on May 2, 2014. Returns prior to the date the Fund commenced operations are those of Emerging Countries Fund (Class III shares), adjusted to reflect the estimated gross operating expenses (on a percentage basis) expected to be borne by shareholders of each class of shares of the Fund determined as of the commencement of the Fund's operations. The effect of purchase premiums and redemption fees paid by the Fund to Emerging Markets Fund are not reflected for periods prior to the date on which the Fund commenced operations. If the effect of these payments were reflected, returns for periods prior to the date on which the Fund commenced operations would be less than those shown.

2 As of January 1, 2019, the Emerging Markets Series Fund changed its benchmark so that the Fund now seeks total return in excess of that of the MSCI Emerging Markets Index. The Fund formerly sought to outperform the S&P/IFCI Composite Index.

Month-End as of February 28, 2019(USD, %) | GMO Emerging Markets Series Fund Class R6

Table Caption
MTD QTD YTD 1-Year 3-Year 5-Year 10-Year ITD
Emerging Markets Series Fund -0.52 9.18 9.18 -8.59 16.07 4.43 9.52 7.28
MSCI Emerging Markets 0.22 9.01 9.01 -9.89 15.05 4.13 10.33 6.07
  • Emerging Markets Series Fund 1 - 2
  • MSCI Emerging Markets

Inception Date: August 29, 1997

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 The inception date above refers to the inception date of the GMO Emerging Countries Fund. Class R6 shares were first offered on January 1, 2012. GMO Emerging Markets Series Fund is a feeder fund investing substantially all of its assets in shares of a corresponding master fund (i.e., a corresponding GMO Trust fund). Performance data quoted for GMO Emerging Markets Series Fund reflects the performance data of the corresponding GMO Trust master fund re-stated to reflect the fees and expenses associated with GMO Emerging Markets Series Fund. As of August 29, 2017, the Emerging Counties Series Fund changed its principal investment strategies from investing substantially all of its assets in Emerging Countries Fund to investing substantially all of its assets in Emerging Markets Fund , and performance of the Emerging Counties Series Fund for periods prior to August 29, 2017 reflects the Emerging Counties Series Funds principal investment strategies and annual operating expenses that were in effect at that time and may have been different had the Emerging Countries Series Funds revised principal investment strategies and annual operating expenses been in effect.

The Fund commenced operations on May 2, 2014. Returns prior to the date the Fund commenced operations are those of Emerging Countries Fund (Class III shares), adjusted to reflect the estimated gross operating expenses (on a percentage basis) expected to be borne by shareholders of each class of shares of the Fund determined as of the commencement of the Fund's operations. The effect of purchase premiums and redemption fees paid by the Fund to Emerging Markets Fund are not reflected for periods prior to the date on which the Fund commenced operations. If the effect of these payments were reflected, returns for periods prior to the date on which the Fund commenced operations would be less than those shown.

2 As of January 1, 2019, the Emerging Markets Series Fund changed its benchmark so that the Fund now seeks total return in excess of that of the MSCI Emerging Markets Index. The Fund formerly sought to outperform the S&P/IFCI Composite Index.

Year Ending December 31 (USD, %) | GMO Emerging Markets Series Fund Class R6

Calendar
Emerging Markets Series Fund MSCI Emerging Markets
2018 -12.92 -14.58
2017 32.94 37.28
2016 17.58 11.19
2015 -14.98 -14.92
2014 -6.59 -2.19
2013 -6.62 -2.60
2012 15.02 18.22
2011 -17.21 -18.42
2010 20.40 18.88
2009 67.91 78.51
  • Emerging Markets Series Fund 1 - 2
  • MSCI Emerging Markets

Inception Date: August 29, 1997

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 The inception date above refers to the inception date of the GMO Emerging Countries Fund. Class R6 shares were first offered on January 1, 2012. GMO Emerging Markets Series Fund is a feeder fund investing substantially all of its assets in shares of a corresponding master fund (i.e., a corresponding GMO Trust fund). Performance data quoted for GMO Emerging Markets Series Fund reflects the performance data of the corresponding GMO Trust master fund re-stated to reflect the fees and expenses associated with GMO Emerging Markets Series Fund. As of August 29, 2017, the Emerging Counties Series Fund changed its principal investment strategies from investing substantially all of its assets in Emerging Countries Fund to investing substantially all of its assets in Emerging Markets Fund , and performance of the Emerging Counties Series Fund for periods prior to August 29, 2017 reflects the Emerging Counties Series Funds principal investment strategies and annual operating expenses that were in effect at that time and may have been different had the Emerging Countries Series Funds revised principal investment strategies and annual operating expenses been in effect.

The Fund commenced operations on May 2, 2014. Returns prior to the date the Fund commenced operations are those of Emerging Countries Fund (Class III shares), adjusted to reflect the estimated gross operating expenses (on a percentage basis) expected to be borne by shareholders of each class of shares of the Fund determined as of the commencement of the Fund's operations. The effect of purchase premiums and redemption fees paid by the Fund to Emerging Markets Fund are not reflected for periods prior to the date on which the Fund commenced operations. If the effect of these payments were reflected, returns for periods prior to the date on which the Fund commenced operations would be less than those shown.

2 As of January 1, 2019, the Emerging Markets Series Fund changed its benchmark so that the Fund now seeks total return in excess of that of the MSCI Emerging Markets Index. The Fund formerly sought to outperform the S&P/IFCI Composite Index.

Management

Divecha_Arjun

Arjun Divecha

Head of Emerging Markets Equity

Mr. Divecha is the head of GMO’s Emerging Markets Equity team and a member of the GMO Board of Directors. Prior to joining GMO in 1993, he spent 12 years at BARRA directing software development, marketing, client service and emerging markets research and development. Mr. Divecha holds a Bachelor of Technology in Aeronautical Engineering from the Indian Institute of Technology, Bombay and an M.B.A. in Finance from Cornell University.

Bhartia_Amit

Amit Bhartia

Head of Fundamental, Emerging Markets Equity

Mr. Bhartia is a portfolio manager for GMO’s Emerging Markets Equity team and oversees fundamental research. Additionally, he serves as CEO and an executive director of GMO Singapore Pte Ltd. Prior to joining GMO in 1995, he worked as an investment advisor in India. Mr. Bhartia earned a Bachelor of Engineering at the University of Bombay and an MBA at the Institute for Technology and Management in Bombay. He is a CFA charterholder.

Chiang_Warren

Warren Chiang

Head of Quantitative, Emerging Markets Equity

Mr. Chiang is a portfolio manager for GMO’s Emerging Markets Equity team and oversees quantitative research. 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 B.A. in Economics and his MBA from the University of California Berkeley. He is a CFA charterholder.

Documents

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Performance
Portfolio Composition
Holdings
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Commentary & Attribution

Commentary - Quarterly
Commentary - Annual
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)
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Risks

Risks associated with investing in the Fund may include those as follows. (1) Market Risk - Equities: The market price of equities may decline due to factors affecting the issuing companies, their 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. (2) Non-U.S. Investment Risk: The market prices of many non-U.S. securities fluctuate more than those of U.S. securities. Many non-U.S. markets are less stable, smaller, less liquid, and less regulated than U.S. markets, and the cost of trading in those markets often is higher than it is in U.S. markets. These and other risks (e.g., nationalization, expropriation or other confiscation of assets of non-U.S. issuers) tend to be greater for investments in companies tied economically to emerging countries, the economies of which tend to be more volatile than the economies of developed countries. (3) Currency Risk: Fluctuations in exchange rates can adversely affect the market value of the Fund's non-U.S. currency holdings and investments denominated in non-U.S. currencies. 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. 

Each GMO Series Trust Fund is a feeder fund investing substantially all of its assets in shares of a corresponding GMO Trust Fund (i.e., a master fund). Under the master-feeder structure, each GMO Series Trust Fund's sole portfolio holding, other than cash, is shares of the corresponding GMO Trust Fund.

The GMO Trust funds are distributed in the United States by Funds Distributor LLC. GMO and Funds Distributor LLC are not affiliated.