IE000N5QCMO9
GMO Climate Change Transition Investment Fund

  • Equities
  • Global
  • SGD Cash
  • Accumulating
Invest with
SGD Cash
Payout type
Accumulating
Risk rating
6
About this fund
Description
The Fund seeks to deliver high total return by investing in companies GMO believes are positioned to benefit, directly or indirectly, from efforts to mitigate the long-term effects of global climate change, to address the environmental challenges pre...
Key information
Annual report
Product Highlight Sheet
Prospectus
Our perspective
Why we think this fund is best-in-class
product
Product
Thematic offering provides investors with exposure to beneficiaries of the climate change transition.Core allocation to Clean Energy and Energy Efficiency themes, but provides interesting and meaningful exposure to Agriculture and Water as well.SMID and value/quality focus provides diversification benefits due to the low ownership; real assets exposure also potentially provides inflation-hedging characteristics.SFDR Article 8
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people
People
GMO as a firm is known for its quantitative approach, grounded in a long-term, valuation-based investment philosophy.Part of the GMO Focused Equity team, consisting of 12 investment professionals of which five are GMO partners.The team focuses on Quality and Real Asset Equity strategies and adopts a high conviction, long horizon and a blend of fundamental and quantitative approach.The Fund is somewhat like an extension of the GMO Resources strategy, due to the importance of Real Assets in both strategies. As a result, both funds are managed by the same portfolio manager, Lucas White.Lucas works closely with Tom Hancock, Head of the Focused Equity team and is supported by a team of analysts who engage in fundamental and quantitative research.Analyst coverage is typically organised around segment ownership.
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performance
Performance
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process
Process
since inception on 30th April 2017 has been strong, with the composite outperforming the MSCI ACWI index by more than 2% on an annualised basis as of 31st May 2023.The Fund was able to capture significant upside in 2020, when the clean energy segment went through a bullish phase. The climate change fund had a +43% return compared to the MSCI ACWI’s +16%.In 2022, the Fund also captured less downside with a -10% return compared to the MSCI ACWI’s -18%. A large part of this defensiveness was due to the clean energy segment’s relatively better showing, as holdings in Solar, Biofuels and Power Generation fared well.ProcessUniverse is first defined - one that is targeted for impact and focuses on companies involved in the mitigation of and adaptation to climate change.Strategic allocation defines a set of long-term targets that steer the portfolio’s allocation to climate change segments.Stock selection involves GMO’s quantitative model that is driven by valuation-based modelling. The four key inputs of the model are Value, Momentum, Diversification and Liquidity. The output serves as a starting point in determining the final portfolio positioning of 100 to 150 names.
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cost
Cost
Access to the clean share class with no trailer fee to achieve lower cost of access.
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selectionCriteria
How it fits in a portfolio
Investors who are interested in the opportunities driven by the ongoing climate change transition can consider an investment in the Fund. By focusing on an important structural theme driven by secular growth, the Fund has the potential to generate outsized returns in the long-term.The Fund’s investments in real assets such as clean energy, utilities and agriculture potentially provides inflation-hedging characteristics. Additionally, due to the Fund’s bias towards small and mid-cap companies that are traditionally underowned, the Fund is able to provide diversification benefits relative to larger, broad-based equity funds.Lastly, due to GMO’s strong focus on valuation, the Fund tends to be more defensive relative to similar thematic peers that would likely have strong growth biases. This trait could potentially appeal to investors interested in thematic investing but wary of the outsized levels of volatility and drawdowns.At the same time, investors should be aware that the Fund focuses on a singular theme, with a relatively concentrated portfolio of 100 to 150 positions. Therefore, in periods where the market environment is unfavourable, the Fund may still be subjected to higher levels of volatility and drawdowns. Sizing and diversification remain key when considering an allocation to the Fund.Updated as of 2023/06/25
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Invest in this fund
Performance
Shows the total return of this accumulating fund, which includes dividends reinvested.
Total returns
All Time
-25.68%
YTD
16.12%
1 month
10.53%
6 month
25.37%
1 year
-0.19%
3 year
-25.44%
As of Aug 2025
Distributions
This is an accumulating fund, so dividends are re-invested at the fund level.
Risk metrics
Max drawdown
-45.98%As of Aug 2025
Volatility
26.75%As of Aug 2025
Calendar returns
YearTotalJanFebMarAprMayJunJulAugSepOctNovDec
2025-1.3%-8.6%-4.8%-3.7%7.2%5.6%9.2%10.5%----
2024-22.8%-10.9%1.8%5.8%-4.3%7.0%-10.7%4.2%-1.7%1.8%-5.9%-2.5%-7.9%
2023-8.3%11.3%-1.8%-3.3%-2.8%-2.2%6.8%3.0%-10.6%-7.1%-14.3%6.9%9.2%
2022-----0.0%-14.2%14.5%1.5%-11.0%3.6%8.9%-9.7%
Top Exposures
Darling Ingredients Inc5.00%
LG Chem Ltd4.23%
Sunrun Inc4.14%
SolarEdge Technologies Inc4.08%
Ameresco Inc Class A3.74%
Nexans3.47%
Vestas Wind Systems AS3.39%
Valeo SA2.89%
First Solar Inc2.88%
Array Technologies Inc Ordinary Shares2.58%
Neste OYJ2.33%
Infineon Technologies AG2.14%
Veolia Environnement SA2.02%
Sociedad Quimica Y Minera De Chile SA ADR1.92%
BorgWarner Inc1.85%
Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.
Fund fees
0.83% p.a.
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Fund facts
ISIN
IE000N5QCMO9
Fund house
GMO
Fund size
S$351.7M
As of 09 Sep 2025
Fund inception date
19 May 2022
Fund class currency
SGD
Fund share class
A SGD
Oldest share class ISIN
IE00BDT8SN47
Oldest share inception date
14 Mar 2018
Pricing frequency
Daily

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