GMO Foreign Fund Class III (GMOFX)

Investment Objective The investment seeks total return in excess of that of its benchmark, the MSCI EAFE Index. Under normal circumstances, the fund invests directly and indirectly (e.g., through underlying funds or derivatives) at least 80% of its assets in investments tied economically to countries other than the United States, including both developed and emerging countries. It may (but is not obligated to) use a wide variety of exchange-traded and over-the-counter (OTC) derivatives, including, without limitation, forward currency contracts, futures and options, as well as exchange-traded funds. The fund is non-diversified.