GMO International Opportunistic Value Fund Class IV GMAZX Strategy

The investment seeks total return. The adviser seeks to achieve the fund’s investment objective by investing the fund’s assets primarily in international equity markets. The fund primarily invests directly and indirectly (e.g., through underlying funds or derivatives) in equities of companies tied economically to developed countries other than the United States. Under normal circumstances, the fund invests directly and indirectly at least 80% of its assets in equities.