EX-99.77E LEGAL 2 nsar-item77-oct-2017.txt GRANTHAM, MAYO, VAN OTTERLOO & CO. LLC MEMORANDUM To: Matthew Dunlap From: Judith Lyden cc: Andy Luu Date: October 20, 2017 Re: GMO Trust - Item 77 Attachments - Form N-SAR For Period March 1, 2017 through August 31, 2017 (and current) Item 7: Termination of Funds * Emerging Countries Fund, effective August 29, 2017 * Foreign Fund, effective August 28, 2017 * Currency Hedged International Bond Fund, effective September 29, 2017 Item 77E: Legal Proceedings Series 15 - GMO Emerging Markets Fund Indian regulators alleged in 2002 that the Fund violated some conditions under which it was granted permission to operate in India and have restricted some of the Fund's locally held assets pending resolution of the dispute. Although these locally held assets remain the property of the Fund, a portion of the assets are not permitted to be withdrawn from the Fund's local custodial account located in India. The amount of these restricted assets is small relative to the size of the Fund, representing approximately 0.08% of the Fund's total net assets as of August 31, 2017. The effect of this claim on the value of the restricted assets, and all matters relating to the Fund's response to these allegations, are subject to the supervision and control the Trust's Board of Trustees. Any costs in respect of this matter are being borne by the Fund. Item 77I: Terms of new or amended securities No items to be updated at this time. Item 77Q1: Exhibits Amendment No. 2 to the Declaration of Trust re new fund, GMO Climate Change Fund and termination of Global Bond Fund, Developed World Stock Fund and World Opportunity Overlay Fund. 2