GBFPX — GMO Benchmark-Free Allocation Series Fund
Data updated: 2021-01-29
GBFPX — GMO Benchmark-Free Allocation Series Fund. Money Market · $464.88M AUM · 0.98% expense ratio. Holdings, fees, performance and SEC filings.
GBFPX Fund Overview
GBFPX — GMO Benchmark-Free Allocation Series Fund is a US mutual fund managed by GMO Series Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: GMO Series Trust
- Category: Money Market
- Assets under management: $464.88M
- 1-year return: -1.2%
- Ticker: GBFPX
- SEC CIK: 0001521894
- SEC series ID: S000035218
- Share class ID: C000174015
GBFPX Investment Objective and Strategy
GMO Benchmark-Free Allocation Series Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by GMO Series Trust.
Investment objective
Positive total return not relative return.
Principal investment strategy
"The Fund invests substantially all of its assets in Class III shares of GMO Benchmark-Free Allocation Fund (""BFAF""), a series of GMO Trust not offered in this Prospectus. BFAF invests primarily in shares of other funds managed by GMO (""GMO Funds""). The Fund's investment objective and principal investment strategies are substantially similar to those of BFAF. Except as otherwise indicated, references to the Fund may also refer to BFAF, and references to actions undertaken or investments held by the Fund may also refer to those by BFAF. GMO serves as investment adviser for both the Fund and BFAF. The Fund seeks annualized returns of 5% (net of fees) above the Consumer Price Index and annualized volatility (standard deviation) of 5-10%, each over a complete market cycle. GMO does not manage the Fund to, or control the Fund's risk relative to, any securities index or securities benchmark.
GMO seeks to achieve the Fund's investment objective by investing in asset classes GMO believes offer the most attractive return and risk opportunities. GMO uses its multi-year forecasts of returns among asset classes, together with its assessment of the relative risks of such asset classes, to determine the Fund's allocations to various asset classes. An important component of those forecasts is GMO's expectation that valuations ultimately revert to their fundamental fair (or intrinsic) value. GMO changes the Fund's holdings of underlying asset classes and strategies in response to changes in GMO's investment outlook and assessment of market valuations. The factors GMO considers and investment methods GMO uses can change over time. The Fund is structured as a fund of funds and gains its investment exposures primarily by investing in GMO Implementation Fund (""Implementation Fund"").
In addition, the Fund may invest in any other GMO Fund (together with Implementation Fund, the ""underlying GMO Funds""), whether now existing or created in the future. These underlying GMO Funds may include, among others, GMO Opportunistic Income Fund, GMO Emerging Country Debt Fund, GMO Special Opportunities Fund, GMO High Yield Fund, and GMO SGM Major Markets Fund. Implementation Fund is permitted to invest in any asset class and may engage in merger arbitrage. The Fund also may invest directly in securities (including other underlying funds) and derivatives. The Fund is permitted to invest (directly or through Implementation Fund or other underlying GMO Funds) in any asset class (e.g., U.S. equity, non-U.S. equity, emerging country equity, U.S. fixed income, non-U.S. fixed income, emerging country debt and commodities), sector, country, or region, and at times may have substantial exposure to a single asset class, sector, country, or region.
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, credit quality (including below investment grade securities (commonly referred to as ""junk bonds"")), maturity or duration. The Fund may have indirect exposure to derivatives and short sales through its investment in Implementation Fund and the other underlying GMO Funds. GMO's ability to shift investments within Implementation Fund and between it and the other underlying GMO Funds is not subject to any limits. 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. In addition, the Fund may lend its portfolio securities. The Fund also may invest in GMO U.S.
Treasury Fund, in money market funds unaffiliated with GMO, and in the types of investments typically held by money market funds. The Fund may hold cash, cash equivalents, and/or U.S. government securities to manage cash inflows and outflows as a result of shareholder purchases and redemptions."
GBFPX Performance
Total returns for GBFPX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -1.2% |
GBFPX Risk Information
Risk metrics for GBFPX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.3%
GBFPX Costs and Fees
GBFPX costs about $98 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.98%
- Gross expense ratio: 1.08%
- Portfolio turnover: 17%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
GBFPX Cashflows
Over the 12 months to 2020-11, GMO Benchmark-Free Allocation Series Fund had net outflows of $141.93M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-11 | −$14.32M |
| 2020-10 | −$22.26M |
| 2020-09 | −$4.56M |
| 2020-08 | −$38.95M |
| 2020-07 | −$7.72M |
| 2020-06 | −$33.04M |
GBFPX Debt Constituents
No individual debt constituents are reported in GMO Benchmark-Free Allocation Series Fund's latest SEC N-PORT filing.
GBFPX Prospectus and SEC Filings
Official GMO Benchmark-Free Allocation Series Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-07-17
- Prospectus (485BPOS) — filed 2019-07-22
- Prospectus (485BPOS) — filed 2018-07-23
- Portfolio holdings (N-PORT) — filed 2021-01-29
- Portfolio holdings (N-PORT) — filed 2020-10-28
- Portfolio holdings (N-PORT) — filed 2020-07-28
- Annual census (N-CEN) — filed 2020-05-12
- Annual census (N-CEN) — filed 2019-05-10
Related Funds
Other Money Market funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.