Filed pursuant to Rule 497(e)
File Nos. 002-98772 and 811-04347
GMO TRUST
Supplement dated October 11, 2016 to the
GMO Trust Multi-Class Prospectus and Statement of Additional Information, dated June 30, 2016
IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY
With respect to the GMO Debt Opportunities Fund (the Fund), the Board of Trustees of GMO Trust has approved: (1) a change in the Funds name to GMO Opportunistic Income Fund; (2) the elimination of the following name policy from the Funds principal investment strategies because the policy will no longer be required by Rule 35d-1 under the Investment Company Act of 1940, as amended: Under normal circumstances, the Fund invests directly and indirectly (e.g., through other GMO Funds or derivatives) at least 80% of its assets in debt investments; and (3) a change in the Funds investment objective from positive total return to capital appreciation and current income. The changes and elimination of the name policy will become effective as of January 1, 2017.