Fund Description

The fund is a fund of funds that invests primarily in equities traded in non-U.S. markets, including emerging markets, through investments in Equity Funds and GMO-managed exchange-traded funds, and it may also invest directly in securities (including other underlying funds) and derivatives. Allocation is guided by quantitative multi-year return forecasts and relative risk assessments, including an expectation that valuations revert to fundamental value over a market cycle, with exposures adjusted as outlook and valuations change. Under normal circumstances, at least 80% of assets are in equities and at least 80% in equities tied economically to developed markets; emerging markets exposure typically is 10% or less at purchase. It may invest across market capitalizations, lend securities, and invest in Treasury and money market vehicles.