Filed pursuant to Rule 497(e)
File Nos. 002-98772 and 811-04347
GMO TRUST
Supplement dated December 18, 2023 to
the
GMO Trust Prospectus, dated June 30, 2023, as supplemented (“Prospectus”)
GMO Multi-Sector Fixed Income Fund
Effective December 31, 2023, the section appearing on page 114 of the Prospectus captioned “Management of the Fund” is replaced in its entirety with the following:
Management of the Fund
Investment Adviser: Grantham, Mayo, Van Otterloo & Co. LLC
Investment Team and Senior Members of GMO primarily responsible for portfolio management of the Fund:
| Investment Team | Senior Member (Length of Service with Fund) | Title | ||
| Developed Rates and FX | Jason Hotra (since 2016) | Head, Developed Rates and FX Team, GMO. | ||
| Developed Rates and FX | James Donaldson (since 2023) | Portfolio Manager, Developed Rates and FX Team, GMO. |
Effective December 31, 2023, the following replaces the portions of the table beginning on page 187 of the Prospectus in the section captioned “Management of the Trust” that identify the senior members of the Investment Team with primary responsibility for managing the investments of GMO Multi-Sector Fixed Income Fund:
| Multi-Sector Fixed Income Fund | Jason Hotra | Head, Developed Rates and FX Team, GMO. Mr. Hotra has been responsible for providing portfolio management services to GMO’s developed rates and FX portfolios since June 2015. Previously, Mr. Hotra was a portfolio manager at Convexity Capital Management. |
| James Donaldson | Portfolio Manager, Developed Rates and FX Team, GMO. Mr. Donaldson has been responsible for providing portfolio management services to GMO’s fixed income portfolios since 2015. |
GMO TRUST
Amended and Restated Supplement dated December 18,
2023 to the
GMO Trust Statement of Additional Information, dated June 30, 2023 (“SAI”)
Effective December 31, 2023, GMO Multi-Sector Fixed Income Fund will be managed by Jason Hotra and James Donaldson. The SAI is updated to reflect the foregoing.
The tables setting forth information about accounts overseen or managed by the senior members of the teams as of February 28, 2023 (except as otherwise noted) on page 76 of the SAI are deleted and replaced with the following:
| Senior Member | Registered investment companies managed (including non-GMO mutual fund subadvisory relationships) | Other pooled investment vehicles managed (world-wide) | Separate accounts managed (world-wide) | ||||||||||||||||||
| Number
of accounts1 | Total assets1 | Number
of accounts | Total | Number
of accounts | Total
assets | ||||||||||||||||
| Joe Auth | 2 | $ | 1,384,294,649 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| B.J. Brannan | 1 | $ | 195,677,202 | 2 | $ | 389,167,309 | 0 | $ | 0 | ||||||||||||
| Warren Chiang | 5 | $ | 1,500,334,190 | 3 | $ | 38,918,333 | 3 | $ | 1,085,513,144 | ||||||||||||
| Hassan Chowdhry | 1 | $ | 64,965,394 | 0 | $ | 0 | 1 | $ | 198,525,330 | ||||||||||||
| Ty Cobb | 2 | $ | 6,854,385,433 | 2 | $ | 762,685,528 | 9 | $ | 4,688,418,704 | ||||||||||||
| Arjun Divecha | 3 | $ | 1,191,108,331 | 3 | $ | 38,918,333 | 3 | $ | 1,085,513,144 | ||||||||||||
| James Donaldson2 | 1 | $ | 75,747,145 | 0 | $ | 0 | 1 | $ | 82,368,975 | ||||||||||||
| Drew Edwards | 1 | $ | 107,580,104 | 2 | $ | 32,124,890 | 2 | $ | 801,164,266 | ||||||||||||
| Jason Halliwell | 1 | $ | 128,955,046 | 6 | $ | 3,925,346,205 | 1 | $ | 154,730,099 | ||||||||||||
| Thomas Hancock | 6 | $ | 10,096,780,035 | 8 | $ | 2,325,778,555 | 15 | $ | 5,386,223,664 | ||||||||||||
| Simon Harris | 5 | $ | 1,878,875,255 | 3 | $ | 4,421,890,621 | 5 | $ | 2,475,221,907 | ||||||||||||
| Anthony Hene | 2 | $ | 6,854,385,433 | 2 | $ | 762,685,528 | 9 | $ | 4,688,418,704 | ||||||||||||
| Jason Hotra | 1 | $ | 103,901,800 | 2 | $ | 99,702,666 | 2 | $ | 120,643,768 | ||||||||||||
| Ben Inker | 11 | $ | 6,065,127,739 | 10 | $ | 5,199,828,249 | 37 | $ | 15,068,213,735 | ||||||||||||
| Matt Kadnar | 1 | $ | 195,677,202 | 2 | $ | 389,167,309 | 0 | $ | 0 | ||||||||||||
| Tracey Keenan | 1 | $ | 408,472,424 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| James Mendelson | 1 | $ | 64,965,394 | 0 | $ | 0 | 1 | $ | 198,525,330 | ||||||||||||
| Ben Nabet | 1 | $ | 1,127,012,614 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| Tara Oliver | 2 | $ | 309,225,859 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| Rachna Ramachandran | 1 | $ | 257,282,035 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| John Thorndike | 11 | $ | 6,065,127,739 | 6 | $ | 1,082,330,920 | 35 | $ | 14,151,765,233 | ||||||||||||
| Tina Vandersteel | 1 | $ | 2,786,023,374 | 4 | $ | 2,683,173,029 | 0 | $ | 0 | ||||||||||||
| Lucas White | 3 | $ | 3,177,429,208 | 6 | $ | 1,563,093,027 | 5 | $ | 499,279,630 | ||||||||||||
2
| Senior Member | Registered investment companies managed for which GMO receives a performance-based fee (including non-GMO mutual fund subadvisory relationships) | Other pooled investment vehicles managed (world-wide) for which GMO receives a performance-based fee | Separate accounts managed (world-wide) for which GMO receives a performance-based fee | ||||||||||||||||||
| Number
of accounts1 | Total assets1 | Number
of accounts | Total assets | Number
of accounts | Total
assets | ||||||||||||||||
| Joe Auth | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| B.J. Brannan | 0 | $ | 0 | 1 | $ | 389,167,309 | 0 | $ | 0 | ||||||||||||
| Warren Chiang | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| Hassan Chowdhry | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| Ty Cobb | 0 | $ | 0 | 0 | $ | 0 | 2 | $ | 807,240,138 | ||||||||||||
| Arjun Divecha | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| James Donaldson2 | 0 | $ | 0 | 0 | $ | 0 | 1 | $ | 82,368,975 | ||||||||||||
| Drew Edwards | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| Jason Halliwell | 0 | $ | 0 | 6 | $ | 3,925,346,205 | 1 | $ | 154,730,099 | ||||||||||||
| Thomas Hancock | 0 | $ | 0 | 0 | $ | 0 | 3 | $ | 878,771,004 | ||||||||||||
| Simon Harris | 0 | $ | 0 | 3 | $ | 4,421,890,621 | 0 | $ | 0 | ||||||||||||
| Anthony Hene | 0 | $ | 0 | 0 | $ | 0 | 2 | $ | 807,240,138 | ||||||||||||
| Jason Hotra | 0 | $ | 0 | 1 | $ | 46,981,224 | 2 | $ | 120,643,768 | ||||||||||||
| Ben Inker | 0 | $ | 0 | 6 | $ | 4,899,896,602 | 18 | $ | 2,354,141,358 | ||||||||||||
| Matt Kadnar | 0 | $ | 0 | 1 | $ | 389,167,309 | 0 | $ | 0 | ||||||||||||
| Tracey Keenan | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| James Mendelson | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| Ben Nabet | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| Tara Oliver | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| Rachna Ramachandran | 0 | $ | 0 | 0 | $ | 0 | 0 | $ | 0 | ||||||||||||
| John Thorndike | 0 | $ | 0 | 2 | $ | 782,399,272 | 18 | $ | 2,354,141,358 | ||||||||||||
| Tina Vandersteel | 0 | $ | 0 | 2 | $ | 1,035,891,134 | 0 | $ | 0 | ||||||||||||
| Lucas White | 0 | $ | 0 | 0 | $ | 0 | 1 | $ | 71,530,866 | ||||||||||||
1 For some senior members, “Total assets” includes assets invested by other Funds.
2 Information about the accounts overseen or managed by Mr. Donaldson are provided as of December 8, 2023.
The following rows are added to the Senior Member Fund Ownership table showing the dollar range of each senior member’s direct beneficial share ownership as of February 28, 2023 (except as otherwise noted) on pages 77 and 78 of the SAI:
| Name of Senior Member | Dollar Range of Shares Directly Owned in the Fund | ||
| James Donaldson | Multi-Sector Fixed Income Fund | None3 | |
3 Information about the dollar range of shares directly owned by Mr. Donaldson is provided as of December 8, 2023.
The following rows are added to the Senior Member Fund Ownership table showing the dollar range of each senior member’s indirect beneficial share ownership as of February 28, 2023 (except as otherwise noted) on pages 79 and 80 of the SAI:
| Name of Senior Member | Dollar Range of Shares Directly Owned in the Fund | ||
| James Donaldson | Multi-Sector Fixed Income Fund | None3 | |
3 Information about the dollar range of shares directly owned by Mr. Donaldson is provided as of December 8, 2023.
3