Grantham, Mayo and Van Otterloo & Co. (GMO), the 35-year old Boston-based asset manager, has closed its Australian stock-investing unit with the loss of an unknown number of jobs.
The GMO Australian Equities Trust had $198 million invested and its Small Companies Trust had $7.5 million invested as of March 31, according to the Australian newspaper.
A GMO spokesman confirmed the closing of the Australian Equity Strategy but provided no further comment. Glen Howard, a GMO director, did not return calls seeking comment.
