GMO International Active Foreign Small Companies Strategy

GMO 1Q15 Performance Update

GMO's quarterly performance update for the first quarter ended March 31, 2015.
GMO Global Focused Equity Strategy - Quarterly Attribution
Performance data quoted represents past performance and is not predictive of future performance. Returns are shown after the deduction of management fees, transaction
costs and other expenses, but before custody charges, withholding taxes, and other indirect expenses. The returns assume the reinvestment of dividends and other income.
The Global Focused Equity Strategy climbed 2.7% net of fees for the quarter. The Strategy’s reference benchmark, MSCI All Country World index rose 2.3%.

Positive contributions came from holdings in . . .

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