CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the incorporation by reference in this Registration
Statement on Form N-1A of our report dated April 11, 2002 relating to the
financial statements and financial highlights which appears in the February 28,
2002 Annual Report to Shareholders of GMO Foreign Small Companies Fund, which
are also incorporated by reference into the Registration Statement. We also
consent to the references to us under the headings "Financial Highlights" and
"Investment Advisory and Other Services -- Independent Accountants" in such
Registration Statement.

/s/ PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP
Boston, Massachusetts
May 17, 2002