GMO Small Cap Quality III

The GMO Small Cap Quality III fund aims to achieve its financial objective primarily by investing in the stock of high-quality U.S. small-capitalization companies, as determined by GMO. Beyond direct equity purchases, the fund has the option to strategically employ exchange-traded and over-the-counter (OTC) derivatives, as well as exchange-traded funds (ETFs). These alternative financial tools can serve various functions, including replacing direct stock investments, managing or modifying the fund's long or short market exposure, and acting as a stand-in for securities lending activities.