GMO Implementation Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
4.2%
1 yr return
10.9%
3 Yr Avg Return
6.0%
5 Yr Avg Return
3.3%
Net Assets
$2.46 B
Holdings in Top 10
34.5%
52 WEEK LOW AND HIGH
$13.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.48%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 194.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
GIMFX - Profile
Distributions
- YTD Total Return 4.2%
- 3 Yr Annualized Total Return 6.0%
- 5 Yr Annualized Total Return 3.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.95%
- Dividend Yield 4.5%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameGMO Implementation Fund
-
Fund Family NameGMO Mutual Funds
-
Inception DateMar 01, 2012
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBen Inker
Fund Description
The investment strategies GMO pursues for the Fund are intended to complement the strategies it is pursuing for GMO Benchmark-Free Allocation Fund and other accounts it manages. Accordingly, the Fund is not intended to serve as a standalone investment.GMO seeks to achieve the Fund’s investment objective by investing the Fund’s assets in asset classes GMO believes offer the most attractive risk-adjusted returns. GMO uses its quantitative multi-year forecasts of returns among asset classes, together with its assessment of the relative risks of asset classes, to determine the asset classes in which the Fund invests and how much the Fund invests in each asset class. An important component of those forecasts is GMO’s expectation that valuations ultimately revert to their fundamental fair (or intrinsic) value over a complete market cycle. GMO changes the Fund’s asset class exposures in response to changes in GMO’s investment outlook and its assessment of market valuations and may use redemptions or purchases of Fund shares to rebalance the Fund’s investments. The factors GMO considers and investment methods GMO uses can change over time.GMO does not manage the Fund to, or control the Fund’s risk relative to, any securities index or securities benchmark. The Fund is permitted to invest in any asset class (e.g., non-U.S. equity, U.S. equity, emerging country equity, emerging country debt, non-U.S. fixed income, U.S. fixed income, real estate, and commodities) strategy (e.g., long/short and event-driven strategies), sector, country, or region, and at times may have substantial exposure to a single asset class, sector, country, region, issuer, or currency and companies with similar market capitalizations. In addition, the Fund is not restricted in its exposure to any particular market and may invest in securities of companies of any market capitalization and, in the case of debt instruments, of any credit quality (including below investment grade securities, commonly referred to as “high yield” or “junk bonds”), maturity and duration. The Fund also may make extensive use of short sales. GMO’s ability to shift investments among asset classes is not subject to any limits.As an alternative to investing directly in securities, the Fund may invest in exchange-traded and over-the-counter (OTC) derivatives (e.g., selling put options on securities) and exchange-traded funds (ETFs). The Fund also may invest in derivatives and ETFs in an attempt to obtain or adjust elements of its long or short investment exposure. Derivatives used may include options, futures, swap contracts, and reverse repurchase agreements. The Fund’s foreign currency exposure may differ from the currency exposure of its securities. The Fund may lend its portfolio securities.The Fund is not limited in its use of derivatives or in the total notional value of its derivative positions. Leverage is not a principal component of the Fund’s investment strategy. However, because of its derivative positions, the Fund may at times have gross investment exposure in excess of its net assets (i.e., the Fund may be leveraged) and, therefore may be subject to higher risk of loss during those times than if the Fund were not leveraged.The Fund gains exposure to commodities and some other asset classes by investing through a wholly-owned subsidiary advised by GMO, which does not receive management or other fees for its services to the subsidiary. The subsidiary invests primarily in commodity-related derivatives and fixed income instruments but also may invest in any other investment in which the Fund is permitted to invest directly. References in this Prospectus to action taken by the Fund refer to actions taken by the subsidiary as well as the Fund. The Fund does not invest directly in commodities and commodity-related derivatives.In seeking to achieve the Fund’s investment objective, GMO may invest a significant portion of the Fund’s net assets in cash and cash equivalents.The Fund also may invest in U.S. Treasury Fund, in money market funds unaffiliated with GMO, and directly in the types of investments typically held by money market funds.
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GIMFX - Performance
Return Ranking - Trailing
| Period | GIMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.2% | -23.7% | 16.4% | 18.67% |
| 1 Yr | 10.9% | -8.9% | 48.3% | 90.56% |
| 3 Yr | 6.0%* | -2.2% | 16.4% | 97.10% |
| 5 Yr | 3.3%* | -0.7% | 13.4% | 96.26% |
| 10 Yr | N/A* | 0.9% | 11.8% | 86.35% |
* Annualized
Return Ranking - Calendar
| Period | GIMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.2% | -40.8% | 20.6% | 66.30% |
| 2022 | -4.7% | -21.0% | 24.5% | 97.49% |
| 2021 | 0.7% | -24.2% | 27.8% | 80.84% |
| 2020 | -9.3% | -23.1% | 11.7% | 25.12% |
| 2019 | 8.9% | -100.0% | 20.6% | 33.51% |
Total Return Ranking - Trailing
| Period | GIMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 4.2% | -23.7% | 16.4% | 18.03% |
| 1 Yr | 10.9% | -12.8% | 48.3% | 83.90% |
| 3 Yr | 6.0%* | -3.4% | 16.4% | 96.94% |
| 5 Yr | 3.3%* | -1.1% | 13.4% | 96.11% |
| 10 Yr | N/A* | 0.9% | 11.8% | 85.36% |
* Annualized
Total Return Ranking - Calendar
| Period | GIMFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 14.7% | -40.8% | 20.6% | 66.30% |
| 2022 | -1.2% | -21.0% | 24.5% | 97.49% |
| 2021 | 4.1% | -24.2% | 27.8% | 83.41% |
| 2020 | -7.2% | -23.1% | 11.7% | 7.44% |
| 2019 | 13.2% | -2.9% | 23.1% | 42.23% |
NAV & Total Return History
GIMFX - Holdings
Concentration Analysis
| GIMFX | Category Low | Category High | GIMFX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.46 B | 1.12 M | 110 B | 17.93% |
| Number of Holdings | 1669 | 2 | 10961 | 1.46% |
| Net Assets in Top 10 | 848 M | -31.7 M | 22 B | 28.39% |
| Weighting of Top 10 | 34.52% | 10.8% | 100.0% | 96.90% |
Top 10 Holdings
- U.S. Treasury Floating Rate Notes 9.42%
- U.S. Treasury Floating Rate Notes 7.07%
- U.S. Treasury Inflation-Indexed Notes 4.37%
- U.S. Treasury Inflation-Indexed Notes 4.37%
- U.S. Treasury Floating Rate Notes 2.44%
- U.S. Treasury Floating Rate Notes 2.40%
- Federal Home Loan Banks 1.65%
- DAIWA REPO 1.22%
- Roche Holding AG 0.79%
- Taiwan Semiconductor Manufacturing Co Ltd 0.78%
Asset Allocation
| Weighting | Return Low | Return High | GIMFX % Rank | |
|---|---|---|---|---|
| Stocks | 63.37% | -45.72% | 98.42% | 68.48% |
| Bonds | 31.72% | -39.76% | 93.84% | 78.29% |
| Cash | 2.82% | -97.12% | 185.58% | 2.92% |
| Preferred Stocks | 1.09% | -0.03% | 14.00% | 30.06% |
| Other | 0.99% | -1.25% | 197.12% | 99.58% |
| Convertible Bonds | 0.00% | 0.00% | 25.49% | 82.67% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | GIMFX % Rank | |
|---|---|---|---|---|
| Financial Services | 21.05% | 0.00% | 30.34% | 8.92% |
| Technology | 14.89% | 0.00% | 39.48% | 57.32% |
| Consumer Cyclical | 13.08% | 0.00% | 20.84% | 12.31% |
| Industrials | 12.93% | 0.09% | 32.39% | 19.11% |
| Basic Materials | 8.13% | 0.00% | 60.23% | 21.44% |
| Healthcare | 7.92% | 0.00% | 30.30% | 71.13% |
| Communication Services | 7.42% | 0.00% | 28.59% | 48.62% |
| Energy | 4.32% | 0.00% | 38.61% | 59.87% |
| Consumer Defense | 4.30% | 0.00% | 31.85% | 73.89% |
| Real Estate | 3.84% | 0.00% | 90.14% | 49.26% |
| Utilities | 2.13% | 0.00% | 40.29% | 67.52% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | GIMFX % Rank | |
|---|---|---|---|---|
| Non US | 46.91% | -46.69% | 57.06% | 3.55% |
| US | 16.46% | -4.82% | 95.75% | 96.45% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | GIMFX % Rank | |
|---|---|---|---|---|
| Government | 23.30% | 0.00% | 98.64% | 58.66% |
| Corporate | 7.28% | 0.00% | 99.90% | 79.96% |
| Securitized | 1.65% | 0.00% | 83.28% | 64.09% |
| Cash & Equivalents | 0.50% | 0.10% | 100.00% | 10.02% |
| Municipal | 0.24% | 0.00% | 31.28% | 17.12% |
| Derivative | -0.23% | 0.00% | 41.88% | 26.51% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | GIMFX % Rank | |
|---|---|---|---|---|
| US | 31.72% | -177.12% | 87.76% | 63.47% |
| Non US | 0.00% | -39.00% | 137.36% | 82.88% |
GIMFX - Expenses
Operational Fees
| GIMFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.48% | 0.16% | 2.71% | 100.00% |
| Management Fee | 0.00% | 0.00% | 1.70% | 0.43% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.70% | N/A |
Sales Fees
| GIMFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | 99.02% |
| Deferred Load | N/A | 1.00% | 5.50% | N/A |
Trading Fees
| GIMFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | 96.43% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| GIMFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 194.00% | 0.00% | 441.00% | 91.39% |
GIMFX - Distributions
Dividend Yield Analysis
| GIMFX | Category Low | Category High | GIMFX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.48% | 0.00% | 10.92% | 7.07% |
Dividend Distribution Analysis
| GIMFX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annually | Monthly | Monthly |
Net Income Ratio Analysis
| GIMFX | Category Low | Category High | GIMFX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.95% | -5.20% | 6.33% | 15.69% |
Capital Gain Distribution Analysis
| GIMFX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 18, 2023 | $0.655 | OrdinaryDividend |
| Jul 13, 2023 | $0.107 | OrdinaryDividend |
| Dec 16, 2022 | $0.348 | OrdinaryDividend |
| Jul 14, 2022 | $0.079 | OrdinaryDividend |
| Dec 17, 2021 | $0.410 | OrdinaryDividend |
| Dec 17, 2020 | $0.249 | OrdinaryDividend |
| Jul 09, 2020 | $0.029 | OrdinaryDividend |
| Dec 19, 2019 | $0.493 | OrdinaryDividend |
| Jul 16, 2019 | $0.051 | OrdinaryDividend |
| Dec 18, 2018 | $0.521 | OrdinaryDividend |
| Jul 12, 2018 | $0.054 | OrdinaryDividend |
| Dec 20, 2017 | $0.340 | OrdinaryDividend |
| Jul 12, 2017 | $0.070 | OrdinaryDividend |
| Dec 21, 2016 | $0.249 | OrdinaryDividend |
GIMFX - Fund Manager Analysis
Managers
Ben Inker
Start Date
Tenure
Tenure Rank
Mar 01, 2012
10.25
10.3%
Mr. Inker, Co-Heads of the Division, is the director of asset allocation. Mr. Inker has been responsible for overseeing the portfolio management of GMO's asset allocation portfolios since 1996. Mr. Inker joined Grantham, Mayo, Van Otterloo & Co. LLC in 1992 following the completion of his B.A. in Economics from Yale University. He is a CFA charterholder.
John Thorndike
Start Date
Tenure
Tenure Rank
Jun 30, 2019
2.92
2.9%
John Thorndike joined TAS in 2004. Prior to joining TAS, Mr. Thorndike was an analyst in the investment office of Bowdoin College.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.03 | 30.27 | 6.52 | 9.25 |