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Investor Presentaiton

GMO: Japan Value: An Island of Potential in a Sea of Expensive Assets + GMO offered three key reasons to be excited about Japan Value equities: 1. Attractive Valuations 2. A supportive secular transition of rising profitability and more shareholder- friendly policies: and 3. Fertile fishing grounds for alpha seekers 7-year asset class real return forecasts as of February 28, 2021 -6.9% -1.2% -0.8% 8.2% 5.2% 4.3% 0.6% U.S. Broad Europe Emerging Japan Ex-UK Emerging Value Japan Value Japan Small Value Source: GMO. 50/50 Blend of Mean Reversion and Partial Mean Reversion forecasts. GMO Research Paper published on 3/18/2021 titled "Japan Value: An Island of Potential in a sea of Expensive Assets." Paper written by Drew Edwards and Rick Friedman. 11
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