GMO Emerging Country Debt Fund
GMDFX
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- GMO Emerging Country Debt Fund Class IV (GMDFX) is an open-end mutual fund managed by GMO that seeks total return in excess of the J.P. Morgan EMBI Global Diversified index through investments primarily in external debt of emerging market sovereigns and quasi-sovereigns. Under normal circumstances, the fund invests directly and indirectly at least 80% of its assets in debt securities denominated in non-local currencies that are tied economically to emerging countries; it employs bottom-up issue selection to identify securities with favorable default characteristics and superior long-term return potential relative to the benchmark, utilizing over-the-counter and exchange-traded derivatives including options, swaps, forward currency contracts, and reverse repurchase agreements. The fund operates within the emerging markets bond category, targeting institutional investors with a minimum initial investment of $125 million, and maintains total net assets of approximately $2.33 billion with a share class size of $1.30 billion, a net expense ratio of 0.56%, and a front-end load of 0.75%. Headquartered in Boston with additional offices in London, San Francisco, Singapore, Sydney, Amsterdam, and Tokyo, the fund traces its inception to April 19, 1994, as part of GMO Trust distributed by Funds Distributor LLC in the United States. Recent developments at GMO include the launch of the Dynamic Allocation ETF (GMOD), marking the first ETF offering of GMO's asset allocation approach, alongside quarterly asset class forecasts highlighting emerging market debt resiliency as of September 30, 2025, though no specific acquisitions, partnerships, or strategic shifts were reported for the Emerging Country Debt strategy itself in the past 1-2 years.