In a third-quarter market commentary issued last month, GMO told investors that today’s surging stock markets recalls the period before the tech bubble burst when clients and consultants were losing patience with GMO’s performance.
The firm’s flagship Benchmark-Free Allocation Fund, which seeks returns of five percentage points above the rate of inflation, has returned 2.2% this year, trailing the S&P 500 index’s 26% rise.
This article was provided by Bloomberg News.