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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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<PAGE> PAGE 51
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<PAGE> PAGE 52
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<PAGE> PAGE 53
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<PAGE> PAGE 54
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<PAGE> PAGE 55
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<PAGE> PAGE 56
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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<PAGE> PAGE 59
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<PAGE> PAGE 60
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<PAGE> PAGE 61
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<PAGE> PAGE 62
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<PAGE> PAGE 63
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<PAGE> PAGE 64
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<PAGE> PAGE 65
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<PAGE> PAGE 66
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<PAGE> PAGE 67
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<PAGE> PAGE 68
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<PAGE> PAGE 69
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<PAGE> PAGE 70
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<PAGE> PAGE 71
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<PAGE> PAGE 72
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<PAGE> PAGE 73
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<PAGE> PAGE 74
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<PAGE> PAGE 75
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<PAGE> PAGE 76
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<PAGE> PAGE 77
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<PAGE> PAGE 78
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<PAGE> PAGE 79
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<PAGE> PAGE 80
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<PAGE> PAGE 81
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<PAGE> PAGE 82
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<PAGE> PAGE 83
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<PAGE> PAGE 84
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<PAGE> PAGE 85
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<PAGE> PAGE 86
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<PAGE> PAGE 87
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<PAGE> PAGE 88
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<PAGE> PAGE 89
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<PAGE> PAGE 90
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<PAGE> PAGE 91
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<PAGE> PAGE 92
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<PAGE> PAGE 93
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<PAGE> PAGE 94
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<PAGE> PAGE 95
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<PAGE> PAGE 97
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<PAGE> PAGE 101
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<PAGE> PAGE 102
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<PAGE> PAGE 103
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<PAGE> PAGE 104
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<PAGE> PAGE 105
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<PAGE> PAGE 106
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<PAGE> PAGE 107
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<PAGE> PAGE 108
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<PAGE> PAGE 109
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<PAGE> PAGE 110
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<PAGE> PAGE 111
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<PAGE> PAGE 112
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<PAGE> PAGE 114
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<PAGE> PAGE 115
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<PAGE> PAGE 116
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<PAGE> PAGE 117
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<PAGE> PAGE 118
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<PAGE> PAGE 119
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<PAGE> PAGE 120
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<PAGE> PAGE 122
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<PAGE> PAGE 123
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<PAGE> PAGE 124
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<PAGE> PAGE 125
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<PAGE> PAGE 127
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<PAGE> PAGE 128
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<PAGE> PAGE 129
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<PAGE> PAGE 130
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<PAGE> PAGE 131
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<PAGE> PAGE 132
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<PAGE> PAGE 133
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<PAGE> PAGE 135
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<PAGE> PAGE 136
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<PAGE> PAGE 137
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<PAGE> PAGE 138
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<PAGE> PAGE 139
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<PAGE> PAGE 141
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070 I023200 N
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<PAGE> PAGE 142
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<PAGE> PAGE 143
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<PAGE> PAGE 144
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<PAGE> PAGE 145
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<PAGE> PAGE 146
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<PAGE> PAGE 147
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<PAGE> PAGE 148
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<PAGE> PAGE 149
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<PAGE> PAGE 150
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<PAGE> PAGE 151
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<PAGE> PAGE 152
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<PAGE> PAGE 153
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<PAGE> PAGE 154
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<PAGE> PAGE 155
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<PAGE> PAGE 156
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<PAGE> PAGE 157
076 003500 0.00
SIGNATURE SUSAN RANDALL HARBERT
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
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<LEGEND>
This schedule contains summary financial
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N-SAR for the period ended February 28, 1998
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</LEGEND>
<SERIES>
<NUMBER>011
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
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N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
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</LEGEND>
<SERIES>
<NUMBER> 012
<NAME> Core Fund, Class II
<S> <C>
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<ACCUMULATED-NII-CURRENT> 10,889,309
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 247,086,657
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 782,011,772
<NET-ASSETS> 16,958,086
<DIVIDEND-INCOME> 763,433
<INTEREST-INCOME> 180,950
<OTHER-INCOME> 0
<EXPENSES-NET> 237,653
<NET-INVESTMENT-INCOME> 715,024
<REALIZED-GAINS-CURRENT> 7,166,886
<APPREC-INCREASE-CURRENT> 7,985,130
<NET-CHANGE-FROM-OPS> 15,867,040
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (635,110)
<DISTRIBUTIONS-OF-GAINS> (12,616,955)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 848,657
<NUMBER-OF-SHARES-REDEEMED> 3,937,206
<SHARES-REINVESTED> 715,803
<NET-CHANGE-IN-ASSETS> (47,804,361)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 11,548,506
<OVERDISTRIB-NII-PRIOR> (161,153)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17,753,329
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 23,408,015
<AVERAGE-NET-ASSETS> 41,351,900
<PER-SHARE-NAV-BEGIN> 20.10
<PER-SHARE-NII> 0.24
<PER-SHARE-GAIN-APPREC> 3.99
<PER-SHARE-DIVIDEND> (0.22)
<PER-SHARE-DISTRIBUTIONS> (3.90)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 20.21
<EXPENSE-RATIO> 0.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>013
<NAME> Core Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 3,191,313,651
<INVESTMENTS-AT-VALUE> 3,973,204,888
<RECEIVABLES> 68,333,801
<ASSETS-OTHER> 145,986
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,041,684,675
<PAYABLE-FOR-SECURITIES> 91,605,848
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 245,482,686
<TOTAL-LIABILITIES> 337,088,534
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,664,608,403
<SHARES-COMMON-STOCK> 115,934,929
<SHARES-COMMON-PRIOR> 151,675,682
<ACCUMULATED-NII-CURRENT> 10,889,309
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 247,086,657
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 782,011,772
<NET-ASSETS> 2,317,103,212
<DIVIDEND-INCOME> 54,534,778
<INTEREST-INCOME> 13,453,604
<OTHER-INCOME> 0
<EXPENSES-NET> 15,187,005
<NET-INVESTMENT-INCOME> 52,831,389
<REALIZED-GAINS-CURRENT> 571,245,011
<APPREC-INCREASE-CURRENT> 253,905,615
<NET-CHANGE-FROM-OPS> 877,982,015
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (50,102,134)
<DISTRIBUTIONS-OF-GAINS> (918,932,927)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 24,696,860
<NUMBER-OF-SHARES-REDEEMED> 112,049,490
<SHARES-REINVESTED> 51,611,877
<NET-CHANGE-IN-ASSETS> (734,242,580)
<ACCUMULATED-NII-PRIOR> 5,530,819
<ACCUMULATED-GAINS-PRIOR> 561,337,850
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17,753,329
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 23,408,015
<AVERAGE-NET-ASSETS> 3,166,973,096
<PER-SHARE-NAV-BEGIN> 20.12
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> 5.89
<PER-SHARE-DIVIDEND> (0.32)
<PER-SHARE-DISTRIBUTIONS> (6.05)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 19.99
<EXPENSE-RATIO> 0.48
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>014
<NAME> Core Fund, Class IV
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 3,191,313,651
<INVESTMENTS-AT-VALUE> 3,973,204,888
<RECEIVABLES> 68,333,801
<ASSETS-OTHER> 145,986
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,041,684,675
<PAYABLE-FOR-SECURITIES> 91,605,848
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 245,482,686
<TOTAL-LIABILITIES> 337,088,534
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,664,608,403
<SHARES-COMMON-STOCK> 68,573,281
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 10,889,309
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 247,086,657
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 782,011,772
<NET-ASSETS> 1,370,534,843
<DIVIDEND-INCOME> 2,755,693
<INTEREST-INCOME> 679,823
<OTHER-INCOME> 0
<EXPENSES-NET> 702,358
<NET-INVESTMENT-INCOME> 2,701,948
<REALIZED-GAINS-CURRENT> 31,859,392
<APPREC-INCREASE-CURRENT> 118,181,057
<NET-CHANGE-FROM-OPS> 152,742,397
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 68,811,049
<NUMBER-OF-SHARES-REDEEMED> 237,768
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,370,534,843
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17,753,329
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 23,408,015
<AVERAGE-NET-ASSETS> 161,321,036
<PER-SHARE-NAV-BEGIN> 17.65
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 2.30
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 19.99
<EXPENSE-RATIO> 0.435
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 015
<NAME> Core Fund, Class II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 3,191,313,651
<INVESTMENTS-AT-VALUE> 3,973,204,888
<RECEIVABLES> 68,333,801
<ASSETS-OTHER> 145,986
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,041,684,675
<PAYABLE-FOR-SECURITIES> 91,605,848
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 245,482,686
<TOTAL-LIABILITIES> 337,088,534
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,664,608,403
<SHARES-COMMON-STOCK> 848,657
<SHARES-COMMON-PRIOR> 3,221,403
<ACCUMULATED-NII-CURRENT> 10,889,309
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 247,086,657
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 782,011,772
<NET-ASSETS> 16,958,086
<DIVIDEND-INCOME> 763,433
<INTEREST-INCOME> 7,387
<OTHER-INCOME> 0
<EXPENSES-NET> 237,653
<NET-INVESTMENT-INCOME> 715,024
<REALIZED-GAINS-CURRENT> 7,166,886
<APPREC-INCREASE-CURRENT> 7,985,130
<NET-CHANGE-FROM-OPS> 15,867,040
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (635,110)
<DISTRIBUTIONS-OF-GAINS> (12,616,955)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 848,657
<NUMBER-OF-SHARES-REDEEMED> 3,937,206
<SHARES-REINVESTED> 715,803
<NET-CHANGE-IN-ASSETS> (47,804,361)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 11,548,506
<OVERDISTRIB-NII-PRIOR> (161,153)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17,753,329
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 23,408,015
<AVERAGE-NET-ASSETS> 1,837,300
<PER-SHARE-NAV-BEGIN> 17.65
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 2.29
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 19.98
<EXPENSE-RATIO> 0.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>043
<NAME> Growth Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 172,216,436
<INVESTMENTS-AT-VALUE> 218,877,127
<RECEIVABLES> 4,781,495
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 223,658,622
<PAYABLE-FOR-SECURITIES> 4,194,233
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 16,540,895
<TOTAL-LIABILITIES> 20,735,128
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 144,425,100
<SHARES-COMMON-STOCK> 46,341,959
<SHARES-COMMON-PRIOR> 47,135,740
<ACCUMULATED-NII-CURRENT> 122,883
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 12,599,278
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 45,776,233
<NET-ASSETS> 202,923,494
<DIVIDEND-INCOME> 1,791,632
<INTEREST-INCOME> 777,966
<OTHER-INCOME> 0
<EXPENSES-NET> 968,224
<NET-INVESTMENT-INCOME> 1,601,374
<REALIZED-GAINS-CURRENT> 40,361,429
<APPREC-INCREASE-CURRENT> 20,120,094
<NET-CHANGE-FROM-OPS> 62,082,897
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,146,620)
<DISTRIBUTIONS-OF-GAINS> (80,215,172)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 273,096
<NUMBER-OF-SHARES-REDEEMED> 21,043,724
<SHARES-REINVESTED> 19,976,847
<NET-CHANGE-IN-ASSETS> (41,259,938)
<ACCUMULATED-NII-PRIOR> 668,129
<ACCUMULATED-GAINS-PRIOR> 52,453,021
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,008,998
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,431,692
<AVERAGE-NET-ASSETS> 201,797,261
<PER-SHARE-NAV-BEGIN> 5.18
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 1.41
<PER-SHARE-DIVIDEND> (0.06)
<PER-SHARE-DISTRIBUTIONS> (2.19)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 4.38
<EXPENSE-RATIO> 0.48
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>083
<NAME> Value Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 281,559,929
<INVESTMENTS-AT-VALUE> 349,055,283
<RECEIVABLES> 5,476,962
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 354,532,245
<PAYABLE-FOR-SECURITIES> 4,586,409
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,842,514
<TOTAL-LIABILITIES> 22,428,923
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 235,894,017
<SHARES-COMMON-STOCK> 23,178,490
<SHARES-COMMON-PRIOR> 31,629,482
<ACCUMULATED-NII-CURRENT> 73,634
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 29,235,527
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 66,900,144
<NET-ASSETS> 332,103,322
<DIVIDEND-INCOME> 8,684,197
<INTEREST-INCOME> 1,124,410
<OTHER-INCOME> 0
<EXPENSES-NET> 2,388,061
<NET-INVESTMENT-INCOME> 7,420,546
<REALIZED-GAINS-CURRENT> 91,343,278
<APPREC-INCREASE-CURRENT> 8,029,177
<NET-CHANGE-FROM-OPS> 106,793,001
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,678,684)
<DISTRIBUTIONS-OF-GAINS> (95,748,520)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 681,641
<NUMBER-OF-SHARES-REDEEMED> 16,313,781
<SHARES-REINVESTED> 7,181,148
<NET-CHANGE-IN-ASSETS> (137,488,040)
<ACCUMULATED-NII-PRIOR> 1,263,932
<ACCUMULATED-GAINS-PRIOR> 34,051,747
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,742,196
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,522,149
<AVERAGE-NET-ASSETS> 391,744,024
<PER-SHARE-NAV-BEGIN> 14.85
<PER-SHARE-NII> 0.31
<PER-SHARE-GAIN-APPREC> 3.81
<PER-SHARE-DIVIDEND> (0.35)
<PER-SHARE-DISTRIBUTIONS> (4.29)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.33
<EXPENSE-RATIO> 0.61
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>060
<NAME> Short Term Income Fund
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 36,903,160
<INVESTMENTS-AT-VALUE> 36,961,185
<RECEIVABLES> 445,817
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 37,407,002
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 30,250
<TOTAL-LIABILITIES> 30,250
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 37,012,186
<SHARES-COMMON-STOCK> 3,810,783
<SHARES-COMMON-PRIOR> 4,187,806
<ACCUMULATED-NII-CURRENT> 310,608
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (4,067)
<ACCUM-APPREC-OR-DEPREC> 58,025
<NET-ASSETS> 37,376,752
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,779,582
<OTHER-INCOME> 0
<EXPENSES-NET> 93,721
<NET-INVESTMENT-INCOME> 2,685,861
<REALIZED-GAINS-CURRENT> 13,827
<APPREC-INCREASE-CURRENT> 110,882
<NET-CHANGE-FROM-OPS> 2,810,570
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,703,434)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,145,609
<NUMBER-OF-SHARES-REDEEMED> 4,714,947
<SHARES-REINVESTED> 192,315
<NET-CHANGE-IN-ASSETS> (3,560,185)
<ACCUMULATED-NII-PRIOR> 328,181
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (17,894)
<GROSS-ADVISORY-FEES> 117,159
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 224,632
<AVERAGE-NET-ASSETS> 46,875,521
<PER-SHARE-NAV-BEGIN> 9.78
<PER-SHARE-NII> 0.55
<PER-SHARE-GAIN-APPREC> 0.03
<PER-SHARE-DIVIDEND> (0.55)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.81
<EXPENSE-RATIO> 0.2
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>031
<NAME> International Core Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 3,715,626,892
<INVESTMENTS-AT-VALUE> 3,899,591,938
<RECEIVABLES> 93,266,556
<ASSETS-OTHER> 10,837,229
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,003,695,723
<PAYABLE-FOR-SECURITIES> 151,889
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 261,581,572
<TOTAL-LIABILITIES> 261,733,461
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,503,831,089
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 8,554
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 13,664,487
<ACCUMULATED-NET-GAINS> 64,940,672
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 186,854,988
<NET-ASSETS> 0
<DIVIDEND-INCOME> 74,993
<INTEREST-INCOME> 7,536
<OTHER-INCOME> 0
<EXPENSES-NET> 22,297
<NET-INVESTMENT-INCOME> 60,232
<REALIZED-GAINS-CURRENT> 296,067
<APPREC-INCREASE-CURRENT> (13,938)
<NET-CHANGE-FROM-OPS> 342,361
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (104,457)
<DISTRIBUTIONS-OF-GAINS> (411,274)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 129,549
<NUMBER-OF-SHARES-REDEEMED> 162,048
<SHARES-REINVESTED> 23,945
<NET-CHANGE-IN-ASSETS> 87,919
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 56,940
<OVERDISTRIB-NII-PRIOR> (1,454)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 30,572,502
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 40,199,087
<AVERAGE-NET-ASSETS> 2,713,971
<PER-SHARE-NAV-BEGIN> 24.36
<PER-SHARE-NII> 0.47
<PER-SHARE-GAIN-APPREC> (0.58)
<PER-SHARE-DIVIDEND> (0.74)
<PER-SHARE-DISTRIBUTIONS> (2.92)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 20.59
<EXPENSE-RATIO> 0.82
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 032
<NAME> International Core Fund, Class II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 3,715,626,892
<INVESTMENTS-AT-VALUE> 3,899,591,938
<RECEIVABLES> 93,266,556
<ASSETS-OTHER> 10,837,229
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,003,695,723
<PAYABLE-FOR-SECURITIES> 151,889
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 261,581,572
<TOTAL-LIABILITIES> 261,733,461
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,503,831,089
<SHARES-COMMON-STOCK> 539,724
<SHARES-COMMON-PRIOR> 1,038,814
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 13,664,487
<ACCUMULATED-NET-GAINS> 64,940,672
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 186,854,988
<NET-ASSETS> 12,500,387
<DIVIDEND-INCOME> 886,346
<INTEREST-INCOME> 98,012
<OTHER-INCOME> 0
<EXPENSES-NET> 258,378
<NET-INVESTMENT-INCOME> 725,980
<REALIZED-GAINS-CURRENT> 3,854,333
<APPREC-INCREASE-CURRENT> (1,068,108)
<NET-CHANGE-FROM-OPS> 3,512,205
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,185,156)
<DISTRIBUTIONS-OF-GAINS> (4,695,006)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 763,855
<NUMBER-OF-SHARES-REDEEMED> 1,537,107
<SHARES-REINVESTED> 274,162
<NET-CHANGE-IN-ASSETS> (10,499,078)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 667,011
<OVERDISTRIB-NII-PRIOR> (177,236)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 30,572,502
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 40,199,087
<AVERAGE-NET-ASSETS> 33,997,506
<PER-SHARE-NAV-BEGIN> 24.36
<PER-SHARE-NII> 0.52
<PER-SHARE-GAIN-APPREC> 1.94
<PER-SHARE-DIVIDEND> (0.74)
<PER-SHARE-DISTRIBUTIONS> (2.92)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 23.16
<EXPENSE-RATIO> 0.76
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>033
<NAME> International Core Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 3,715,626,892
<INVESTMENTS-AT-VALUE> 3,899,591,938
<RECEIVABLES> 93,266,556
<ASSETS-OTHER> 10,837,229
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,003,695,723
<PAYABLE-FOR-SECURITIES> 151,889
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 261,581,572
<TOTAL-LIABILITIES> 261,733,461
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,503,831,089
<SHARES-COMMON-STOCK> 131,331,157
<SHARES-COMMON-PRIOR> 173,673,156
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 13,664,487
<ACCUMULATED-NET-GAINS> 64,940,672
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 186,854,988
<NET-ASSETS> 3,046,509,668
<DIVIDEND-INCOME> 102,561,630
<INTEREST-INCOME> 11,214,932
<OTHER-INCOME> 0
<EXPENSES-NET> 27,262,639
<NET-INVESTMENT-INCOME> 86,513,923
<REALIZED-GAINS-CURRENT> 433,082,350
<APPREC-INCREASE-CURRENT> (130,986,717)
<NET-CHANGE-FROM-OPS> 388,609,556
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (115,540,157)
<DISTRIBUTIONS-OF-GAINS> (446,289,351)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19,930,602
<NUMBER-OF-SHARES-REDEEMED> 86,021,674
<SHARES-REINVESTED> 23,749,073
<NET-CHANGE-IN-ASSETS> (1,147,620,579)
<ACCUMULATED-NII-PRIOR> 9,401,339
<ACCUMULATED-GAINS-PRIOR> 80,618,913
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 30,572,502
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 40,199,087
<AVERAGE-NET-ASSETS> 3,950,202,942
<PER-SHARE-NAV-BEGIN> 24.37
<PER-SHARE-NII> 0.54
<PER-SHARE-GAIN-APPREC> 1.96
<PER-SHARE-DIVIDEND> (0.75)
<PER-SHARE-DISTRIBUTIONS> (2.92)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 23.20
<EXPENSE-RATIO> 0.69
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>034
<NAME> International Core Fund, Class IV
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 3,715,626,892
<INVESTMENTS-AT-VALUE> 3,899,591,938
<RECEIVABLES> 93,266,556
<ASSETS-OTHER> 10,837,229
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,003,695,723
<PAYABLE-FOR-SECURITIES> 151,889
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 261,581,572
<TOTAL-LIABILITIES> 261,733,461
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,503,831,089
<SHARES-COMMON-STOCK> 29,449,788
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 13,664,487
<ACCUMULATED-NET-GAINS> 64,940,672
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 186,854,988
<NET-ASSETS> 682,952,207
<DIVIDEND-INCOME> 911,414
<INTEREST-INCOME> 258,083
<OTHER-INCOME> 0
<EXPENSES-NET> 562,562
<NET-INVESTMENT-INCOME> 606,935
<REALIZED-GAINS-CURRENT> 5,512,405
<APPREC-INCREASE-CURRENT> 34,103,237
<NET-CHANGE-FROM-OPS> 40,222,577
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 32,918,242
<NUMBER-OF-SHARES-REDEEMED> 3,468,454
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 641,546,709
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 30,572,502
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 40,199,087
<AVERAGE-NET-ASSETS> 89,391,718
<PER-SHARE-NAV-BEGIN> 20.61
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 2.56
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 23.19
<EXPENSE-RATIO> 0.630
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>073
<NAME> Japan Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 171,705,786
<INVESTMENTS-AT-VALUE> 145,596,431
<RECEIVABLES> 129,396
<ASSETS-OTHER> 3,947,942
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 149,673,769
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 521,276
<TOTAL-LIABILITIES> 521,276
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 212,406,170
<SHARES-COMMON-STOCK> 23,446,166
<SHARES-COMMON-PRIOR> 31,179,725
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (444,014)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (36,569,557)
<ACCUM-APPREC-OR-DEPREC> (26,240,106)
<NET-ASSETS> 149,152,493
<DIVIDEND-INCOME> 1,471,540
<INTEREST-INCOME> 388,818
<OTHER-INCOME> 0
<EXPENSES-NET> 1,421,132
<NET-INVESTMENT-INCOME> 439,226
<REALIZED-GAINS-CURRENT> (37,355,312)
<APPREC-INCREASE-CURRENT> 22,020,921
<NET-CHANGE-FROM-OPS> (14,895,165)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,316,975
<NUMBER-OF-SHARES-REDEEMED> 12,050,534
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (69,644,431)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (103,886)
<OVERDISTRIB-NII-PRIOR> (564,380)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,540,113
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,225,085
<AVERAGE-NET-ASSETS> 205,348,435
<PER-SHARE-NAV-BEGIN> 7.02
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> (0.67)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 6.36
<EXPENSE-RATIO> 0.69
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>093
<NAME> Tobacco Free Core Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 89,242,596
<INVESTMENTS-AT-VALUE> 106,685,441
<RECEIVABLES> 17,945,372
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 124,630,813
<PAYABLE-FOR-SECURITIES> 17,930,459
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,777,916
<TOTAL-LIABILITIES> 24,708,375
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 75,784,865
<SHARES-COMMON-STOCK> 7,114,000
<SHARES-COMMON-PRIOR> 5,106,204
<ACCUMULATED-NII-CURRENT> 223,078
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,776,064
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 17,138,431
<NET-ASSETS> 99,922,438
<DIVIDEND-INCOME> 1,332,605
<INTEREST-INCOME> 355,240
<OTHER-INCOME> 0
<EXPENSES-NET> 378,661
<NET-INVESTMENT-INCOME> 1,309,184
<REALIZED-GAINS-CURRENT> 12,207,291
<APPREC-INCREASE-CURRENT> 11,550,985
<NET-CHANGE-FROM-OPS> 25,067,460
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,251,164)
<DISTRIBUTIONS-OF-GAINS> (16,435,486)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,705,285
<NUMBER-OF-SHARES-REDEEMED> 1,109,228
<SHARES-REINVESTED> 1,411,739
<NET-CHANGE-IN-ASSETS> 33,662,003
<ACCUMULATED-NII-PRIOR> 165,058
<ACCUMULATED-GAINS-PRIOR> 11,004,259
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 394,815
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 597,356
<AVERAGE-NET-ASSETS> 78,962,809
<PER-SHARE-NAV-BEGIN> 12.98
<PER-SHARE-NII> 0.22
<PER-SHARE-GAIN-APPREC> 4.07
<PER-SHARE-DIVIDEND> (0.22)
<PER-SHARE-DISTRIBUTIONS> (3.00)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 14.05
<EXPENSE-RATIO> 0.48
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>103
<NAME> Fundamental Value Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 99,469,722
<INVESTMENTS-AT-VALUE> 137,234,958
<RECEIVABLES> 693,018
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 137,927,976
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10,891,693
<TOTAL-LIABILITIES> 10,891,693
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 69,989,128
<SHARES-COMMON-STOCK> 10,655,373
<SHARES-COMMON-PRIOR> 14,246,178
<ACCUMULATED-NII-CURRENT> 389,111
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 18,892,808
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 37,765,236
<NET-ASSETS> 127,036,283
<DIVIDEND-INCOME> 4,578,330
<INTEREST-INCOME> 345,383
<OTHER-INCOME> 0
<EXPENSES-NET> 1,425,137
<NET-INVESTMENT-INCOME> 3,498,576
<REALIZED-GAINS-CURRENT> 70,085,215
<APPREC-INCREASE-CURRENT> (21,715,271)
<NET-CHANGE-FROM-OPS> 51,868,520
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,080,386)
<DISTRIBUTIONS-OF-GAINS> (60,475,201)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,670
<NUMBER-OF-SHARES-REDEEMED> 8,757,323
<SHARES-REINVESTED> 5,160,848
<NET-CHANGE-IN-ASSETS> (105,546,941)
<ACCUMULATED-NII-PRIOR> 938,206
<ACCUMULATED-GAINS-PRIOR> 9,315,509
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,425,989
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,806,842
<AVERAGE-NET-ASSETS> 190,131,888
<PER-SHARE-NAV-BEGIN> 16.33
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> 3.90
<PER-SHARE-DIVIDEND> (0.38)
<PER-SHARE-DISTRIBUTIONS> (8.28)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.92
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>133
<NAME> International Small Companies Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 238,308,631
<INVESTMENTS-AT-VALUE> 236,366,534
<RECEIVABLES> 4,377,874
<ASSETS-OTHER> 2,323,523
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 243,067,931
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,913,374
<TOTAL-LIABILITIES> 8,913,374
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 236,274,501
<SHARES-COMMON-STOCK> 19,163,810
<SHARES-COMMON-PRIOR> 17,508,892
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 665,119
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 51,411
<ACCUM-APPREC-OR-DEPREC> (1,403,414)
<NET-ASSETS> 234,154,557
<DIVIDEND-INCOME> 5,052,924
<INTEREST-INCOME> 1,203,813
<OTHER-INCOME> 0
<EXPENSES-NET> 1,751,446
<NET-INVESTMENT-INCOME> 4,505,291
<REALIZED-GAINS-CURRENT> 29,987,922
<APPREC-INCREASE-CURRENT> (20,830,611)
<NET-CHANGE-FROM-OPS> 13,662,602
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,394,112)
<DISTRIBUTIONS-OF-GAINS> (28,025,043)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,671,927
<NUMBER-OF-SHARES-REDEEMED> 3,825,152
<SHARES-REINVESTED> 2,808,143
<NET-CHANGE-IN-ASSETS> (1,498,247)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (655,418)
<OVERDIST-NET-GAINS-PRIOR> (2,135,553)
<GROSS-ADVISORY-FEES> 2,912,080
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,756,164
<AVERAGE-NET-ASSETS> 232,973,715
<PER-SHARE-NAV-BEGIN> 13.46
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> 0.42
<PER-SHARE-DIVIDEND> (0.26)
<PER-SHARE-DISTRIBUTIONS> (1.67)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.22
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>111
<NAME> Small Cap Value Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 728,813,831
<INVESTMENTS-AT-VALUE> 845,877,230
<RECEIVABLES> 15,211,519
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 861,088,749
<PAYABLE-FOR-SECURITIES> 12,270,511
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79,205,952
<TOTAL-LIABILITIES> 91,476,463
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 604,912,461
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 87,565
<ACCUMULATED-NII-CURRENT> 1,408,321
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 46,112,677
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 117,178,827
<NET-ASSETS> 0
<DIVIDEND-INCOME> 19,430
<INTEREST-INCOME> 12,083
<OTHER-INCOME> 0
<EXPENSES-NET> 9,325
<NET-INVESTMENT-INCOME> 22,188
<REALIZED-GAINS-CURRENT> 213,050
<APPREC-INCREASE-CURRENT> 24,807
<NET-CHANGE-FROM-OPS> 260,045
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (26,599)
<DISTRIBUTIONS-OF-GAINS> (323,423)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 55,930
<NUMBER-OF-SHARES-REDEEMED> 164,410
<SHARES-REINVESTED> 20,915
<NET-CHANGE-IN-ASSETS> (1,391,447)
<ACCUMULATED-NII-PRIOR> 4,032
<ACCUMULATED-GAINS-PRIOR> 39,510
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,650,580
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,106,373
<AVERAGE-NET-ASSETS> 1,526,198
<PER-SHARE-NAV-BEGIN> 15.89
<PER-SHARE-NII> 0.22
<PER-SHARE-GAIN-APPREC> 3.00
<PER-SHARE-DIVIDEND> (0.27)
<PER-SHARE-DISTRIBUTIONS> (2.44)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 16.40
<EXPENSE-RATIO> 0.61
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>113
<NAME> Small Cap Value Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 728,813,831
<INVESTMENTS-AT-VALUE> 845,877,230
<RECEIVABLES> 15,211,519
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 861,088,749
<PAYABLE-FOR-SECURITIES> 12,270,511
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79,205,952
<TOTAL-LIABILITIES> 91,476,463
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 604,912,461
<SHARES-COMMON-STOCK> 42,096,585
<SHARES-COMMON-PRIOR> 41,234,772
<ACCUMULATED-NII-CURRENT> 1,408,321
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 46,112,677
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 117,178,827
<NET-ASSETS> 769,612,286
<DIVIDEND-INCOME> 8,942,985
<INTEREST-INCOME> 5,572,401
<OTHER-INCOME> 0
<EXPENSES-NET> 3,493,608
<NET-INVESTMENT-INCOME> 11,021,778
<REALIZED-GAINS-CURRENT> 117,411,485
<APPREC-INCREASE-CURRENT> 89,454,278
<NET-CHANGE-FROM-OPS> 217,887,541
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,940,475)
<DISTRIBUTIONS-OF-GAINS> (97,888,562)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,025,013
<NUMBER-OF-SHARES-REDEEMED> 13,350,357
<SHARES-REINVESTED> 6,187,157
<NET-CHANGE-IN-ASSETS> 114,239,720
<ACCUMULATED-NII-PRIOR> 2,327,397
<ACCUMULATED-GAINS-PRIOR> 26,660,617
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,650,580
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,106,373
<AVERAGE-NET-ASSETS> 728,571,974
<PER-SHARE-NAV-BEGIN> 15.89
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> 4.85
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> (2.44)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.28
<EXPENSE-RATIO> 0.48
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>050
<NAME> Pelican Fund
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 157,160,082
<INVESTMENTS-AT-VALUE> 235,776,461
<RECEIVABLES> 1,899,839
<ASSETS-OTHER> 11,578
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 237,687,878
<PAYABLE-FOR-SECURITIES> 525,731
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 876,337
<TOTAL-LIABILITIES> 1,402,068
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 149,625,042
<SHARES-COMMON-STOCK> 13,286,924
<SHARES-COMMON-PRIOR> 12,714,161
<ACCUMULATED-NII-CURRENT> 404,381
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 7,640,008
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 78,616,379
<NET-ASSETS> 236,285,810
<DIVIDEND-INCOME> 3,678,075
<INTEREST-INCOME> 2,271,970
<OTHER-INCOME> 0
<EXPENSES-NET> 2,074,514
<NET-INVESTMENT-INCOME> 3,875,531
<REALIZED-GAINS-CURRENT> 33,485,867
<APPREC-INCREASE-CURRENT> 18,746,336
<NET-CHANGE-FROM-OPS> 56,107,734
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,850,393)
<DISTRIBUTIONS-OF-GAINS> (30,617,038)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,196,670
<NUMBER-OF-SHARES-REDEEMED> 2,636,304
<SHARES-REINVESTED> 2,012,397
<NET-CHANGE-IN-ASSETS> 28,916,942
<ACCUMULATED-NII-PRIOR> 1,473,363
<ACCUMULATED-GAINS-PRIOR> 4,677,024
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,967,796
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,183,419
<AVERAGE-NET-ASSETS> 218,640,266
<PER-SHARE-NAV-BEGIN> 16.31
<PER-SHARE-NII> 0.32
<PER-SHARE-GAIN-APPREC> 4.13
<PER-SHARE-DIVIDEND> (0.40)
<PER-SHARE-DISTRIBUTIONS> (2.58)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 17.78
<EXPENSE-RATIO> 0.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>141
<NAME> U.S. Sector Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 69,952,691
<INVESTMENTS-AT-VALUE> 70,868,208
<RECEIVABLES> 24,736
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 70,892,944
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 70,106
<TOTAL-LIABILITIES> 70,106
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 64,329,735
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 104,149
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,577,586
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 915,517
<NET-ASSETS> 0
<DIVIDEND-INCOME> 32,960
<INTEREST-INCOME> 8,172
<OTHER-INCOME> 0
<EXPENSES-NET> 5,099
<NET-INVESTMENT-INCOME> 36,033
<REALIZED-GAINS-CURRENT> 549,715
<APPREC-INCREASE-CURRENT> (353,625)
<NET-CHANGE-FROM-OPS> 232,123
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (48,553)
<DISTRIBUTIONS-OF-GAINS> (878,317)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,272
<NUMBER-OF-SHARES-REDEEMED> 218,098
<SHARES-REINVESTED> 104,677
<NET-CHANGE-IN-ASSETS> (1,356,604)
<ACCUMULATED-NII-PRIOR> 3,457
<ACCUMULATED-GAINS-PRIOR> 136,688
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 853,670
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,109,696
<AVERAGE-NET-ASSETS> 1,349,646
<PER-SHARE-NAV-BEGIN> 13.03
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> 1.78
<PER-SHARE-DIVIDEND> (0.40)
<PER-SHARE-DISTRIBUTIONS> (6.99)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.69
<EXPENSE-RATIO> 0.38
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>143
<NAME> U.S. Sector Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 69,952,691
<INVESTMENTS-AT-VALUE> 70,868,208
<RECEIVABLES> 24,736
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 70,892,944
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 70,106
<TOTAL-LIABILITIES> 70,106
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 64,329,735
<SHARES-COMMON-STOCK> 8,299,546
<SHARES-COMMON-PRIOR> 17,394,941
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,577,586
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 915,517
<NET-ASSETS> 70,822,838
<DIVIDEND-INCOME> 3,883,915
<INTEREST-INCOME> 967,004
<OTHER-INCOME> 0
<EXPENSES-NET> 469,246
<NET-INVESTMENT-INCOME> 4,381,673
<REALIZED-GAINS-CURRENT> 53,209,673
<APPREC-INCREASE-CURRENT> (14,426,277)
<NET-CHANGE-FROM-OPS> 43,165,069
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,968,936)
<DISTRIBUTIONS-OF-GAINS> (95,593,791)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,374,373
<NUMBER-OF-SHARES-REDEEMED> 21,232,535
<SHARES-REINVESTED> 10,762,767
<NET-CHANGE-IN-ASSETS> (155,888,083)
<ACCUMULATED-NII-PRIOR> 1,414,708
<ACCUMULATED-GAINS-PRIOR> 46,366,439
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 853,670
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,109,696
<AVERAGE-NET-ASSETS> 173,115,645
<PER-SHARE-NAV-BEGIN> 13.03
<PER-SHARE-NII> 0.29
<PER-SHARE-GAIN-APPREC> 2.61
<PER-SHARE-DIVIDEND> (0.41)
<PER-SHARE-DISTRIBUTIONS> (6.99)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.53
<EXPENSE-RATIO> 0.27
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>163
<NAME> International Bond Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 290,685,914
<INVESTMENTS-AT-VALUE> 294,826,778
<RECEIVABLES> 11,341,365
<ASSETS-OTHER> 1,463,717
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 307,631,860
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14,609,718
<TOTAL-LIABILITIES> 14,609,718
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 290,950,860
<SHARES-COMMON-STOCK> 28,048,515
<SHARES-COMMON-PRIOR> 21,873,511
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 5,912,581
<ACCUMULATED-NET-GAINS> 1,228,165
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,755,698
<NET-ASSETS> 293,022,142
<DIVIDEND-INCOME> 497,625
<INTEREST-INCOME> 17,594,851
<OTHER-INCOME> 0
<EXPENSES-NET> 1,088,687
<NET-INVESTMENT-INCOME> 17,003,789
<REALIZED-GAINS-CURRENT> (1,512,149)
<APPREC-INCREASE-CURRENT> 1,786,896
<NET-CHANGE-FROM-OPS> 17,278,536
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14,355,792)
<DISTRIBUTIONS-OF-GAINS> (11,879,969)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,447,927
<NUMBER-OF-SHARES-REDEEMED> 5,355,799
<SHARES-REINVESTED> 2,082,876
<NET-CHANGE-IN-ASSETS> 57,239,019
<ACCUMULATED-NII-PRIOR> 5,273,327
<ACCUMULATED-GAINS-PRIOR> 786,358
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,090,298
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,781,441
<AVERAGE-NET-ASSETS> 272,561,844
<PER-SHARE-NAV-BEGIN> 10.78
<PER-SHARE-NII> 0.59
<PER-SHARE-GAIN-APPREC> 0.08
<PER-SHARE-DIVIDEND> (0.54)
<PER-SHARE-DISTRIBUTIONS> (0.46)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.45
<EXPENSE-RATIO> 0.4
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>273
<NAME> Small Cap Growth Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 417,251,206
<INVESTMENTS-AT-VALUE> 451,615,811
<RECEIVABLES> 17,813,146
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 469,428,957
<PAYABLE-FOR-SECURITIES> 18,111,305
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 51,704,659
<TOTAL-LIABILITIES> 69,815,964
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 355,342,044
<SHARES-COMMON-STOCK> 32,547,633
<SHARES-COMMON-PRIOR> 16,278,745
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,900,974
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 34,369,975
<NET-ASSETS> 399,612,993
<DIVIDEND-INCOME> 1,661,804
<INTEREST-INCOME> 1,255,784
<OTHER-INCOME> 0
<EXPENSES-NET> 1,473,353
<NET-INVESTMENT-INCOME> 1,444,235
<REALIZED-GAINS-CURRENT> 39,817,641
<APPREC-INCREASE-CURRENT> 37,771,985
<NET-CHANGE-FROM-OPS> 79,033,861
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,776,557)
<DISTRIBUTIONS-OF-GAINS> (29,775,910)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 17,993,943
<NUMBER-OF-SHARES-REDEEMED> 4,511,400
<SHARES-REINVESTED> 2,786,345
<NET-CHANGE-IN-ASSETS> 239,714,892
<ACCUMULATED-NII-PRIOR> 173,151
<ACCUMULATED-GAINS-PRIOR> 18,414
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,537,995
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,198,810
<AVERAGE-NET-ASSETS> 307,599,044
<PER-SHARE-NAV-BEGIN> 9.82
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 3.43
<PER-SHARE-DIVIDEND> (0.07)
<PER-SHARE-DISTRIBUTIONS> (0.95)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.28
<EXPENSE-RATIO> 0.48
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>151
<NAME> Emerging Markets Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 1,883,863,795
<INVESTMENTS-AT-VALUE> 1,697,960,760
<RECEIVABLES> 18,141,671
<ASSETS-OTHER> 7,657,249
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,723,759,680
<PAYABLE-FOR-SECURITIES> 31,719,960
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 106,404,096
<TOTAL-LIABILITIES> 138,124,056
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,844,862,815
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 140,068
<ACCUMULATED-NII-CURRENT> 22,378,753
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (86,438,597)
<ACCUM-APPREC-OR-DEPREC> (195,167,347)
<NET-ASSETS> 0
<DIVIDEND-INCOME> 74,255
<INTEREST-INCOME> 21,851
<OTHER-INCOME> 0
<EXPENSES-NET> 51,580
<NET-INVESTMENT-INCOME> 44,525
<REALIZED-GAINS-CURRENT> 98,270
<APPREC-INCREASE-CURRENT> (2,320,783)
<NET-CHANGE-FROM-OPS> (2,177,988)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (129,011)
<DISTRIBUTIONS-OF-GAINS> (770,778)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 654,767
<NUMBER-OF-SHARES-REDEEMED> 889,721
<SHARES-REINVESTED> 94,886
<NET-CHANGE-IN-ASSETS> (1,749,717)
<ACCUMULATED-NII-PRIOR> 2,200
<ACCUMULATED-GAINS-PRIOR> 9,875
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17,396,168
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 25,200,862
<AVERAGE-NET-ASSETS> 3,668,599
<PER-SHARE-NAV-BEGIN> 12.48
<PER-SHARE-NII> 0.14
<PER-SHARE-GAIN-APPREC> (2.69)
<PER-SHARE-DIVIDEND> (0.26)
<PER-SHARE-DISTRIBUTIONS> (1.08)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.59
<EXPENSE-RATIO> 1.41
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 152
<NAME> Emerging Markets Fund, Class II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 1,883,863,795
<INVESTMENTS-AT-VALUE> 1,697,960,760
<RECEIVABLES> 18,141,671
<ASSETS-OTHER> 7,657,249
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,723,759,680
<PAYABLE-FOR-SECURITIES> 31,719,960
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 106,404,096
<TOTAL-LIABILITIES> 138,124,056
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,844,862,815
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 22,378,753
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (86,438,597)
<ACCUM-APPREC-OR-DEPREC> (195,167,347)
<NET-ASSETS> 0
<DIVIDEND-INCOME> 64,053
<INTEREST-INCOME> 24,220
<OTHER-INCOME> 0
<EXPENSES-NET> 41,277
<NET-INVESTMENT-INCOME> 46,996
<REALIZED-GAINS-CURRENT> (408,755)
<APPREC-INCREASE-CURRENT> (2,342,376)
<NET-CHANGE-FROM-OPS> (2,704,135)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (254,928)
<DISTRIBUTIONS-OF-GAINS> (1,734,253)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,860,787
<NUMBER-OF-SHARES-REDEEMED> 2,076,533
<SHARES-REINVESTED> 215,746
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17,396,168
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 25,200,862
<AVERAGE-NET-ASSETS> 2,980,661
<PER-SHARE-NAV-BEGIN> 11.40
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> (1.75)
<PER-SHARE-DIVIDEND> (0.14)
<PER-SHARE-DISTRIBUTIONS> (0.93)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.61
<EXPENSE-RATIO> 1.38
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>153
<NAME> Emerging Markets Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 1,883,863,795
<INVESTMENTS-AT-VALUE> 1,697,960,760
<RECEIVABLES> 18,141,671
<ASSETS-OTHER> 7,657,249
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,723,759,680
<PAYABLE-FOR-SECURITIES> 31,719,960
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 106,404,096
<TOTAL-LIABILITIES> 138,124,056
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,844,862,815
<SHARES-COMMON-STOCK> 95,539,011
<SHARES-COMMON-PRIOR> 138,115,145
<ACCUMULATED-NII-CURRENT> 22,378,753
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (86,438,597)
<ACCUM-APPREC-OR-DEPREC> (195,167,347)
<NET-ASSETS> 913,615,199
<DIVIDEND-INCOME> 33,259,720
<INTEREST-INCOME> 8,645,009
<OTHER-INCOME> 0
<EXPENSES-NET> 20,500,291
<NET-INVESTMENT-INCOME> 21,404,437
<REALIZED-GAINS-CURRENT> 97,706,644
<APPREC-INCREASE-CURRENT> (418,200,955)
<NET-CHANGE-FROM-OPS> (299,089,874)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (35,349,550)
<DISTRIBUTIONS-OF-GAINS> (153,273,159)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 41,704,905
<NUMBER-OF-SHARES-REDEEMED> 101,692,012
<SHARES-REINVESTED> 17,410,973
<NET-CHANGE-IN-ASSETS> (812,034,076)
<ACCUMULATED-NII-PRIOR> 11,551,763
<ACCUMULATED-GAINS-PRIOR> 16,813,458
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17,396,168
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 25,200,862
<AVERAGE-NET-ASSETS> 1,651,595,843
<PER-SHARE-NAV-BEGIN> 12.49
<PER-SHARE-NII> 0.16
<PER-SHARE-GAIN-APPREC> (1.76)
<PER-SHARE-DIVIDEND> (0.25)
<PER-SHARE-DISTRIBUTIONS> (1.08)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.56
<EXPENSE-RATIO> 1.24
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>154
<NAME> Emerging Markets Fund, Class IV
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 1,883,863,795
<INVESTMENTS-AT-VALUE> 1,697,960,760
<RECEIVABLES> 18,141,671
<ASSETS-OTHER> 7,657,249
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,723,759,680
<PAYABLE-FOR-SECURITIES> 31,719,960
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 106,404,096
<TOTAL-LIABILITIES> 138,124,056
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,844,862,815
<SHARES-COMMON-STOCK> 70,302,469
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 22,378,753
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (86,438,597)
<ACCUM-APPREC-OR-DEPREC> (195,167,347)
<NET-ASSETS> 672,020,425
<DIVIDEND-INCOME> 827,725
<INTEREST-INCOME> 689,224
<OTHER-INCOME> 0
<EXPENSES-NET> 988,345
<NET-INVESTMENT-INCOME> 528,606
<REALIZED-GAINS-CURRENT> (15,993,658)
<APPREC-INCREASE-CURRENT> 81,230,083
<NET-CHANGE-FROM-OPS> 65,765,031
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 73,482,774
<NUMBER-OF-SHARES-REDEEMED> 3,180,305
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 672,020,426
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17,396,168
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 25,200,862
<AVERAGE-NET-ASSETS> 81,278,892
<PER-SHARE-NAV-BEGIN> 8.62
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 0.93
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.56
<EXPENSE-RATIO> 1.220
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>171
<NAME> Emerging Country Debt Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 679,071,415
<INVESTMENTS-AT-VALUE> 759,760,732
<RECEIVABLES> 32,619,822
<ASSETS-OTHER> 4,716,261
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 797,096,815
<PAYABLE-FOR-SECURITIES> 19,107,269
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,023,079
<TOTAL-LIABILITIES> 26,130,348
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 594,642,821
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 2,566
<ACCUMULATED-NII-CURRENT> 45,421,506
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42,383,504
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 88,518,636
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 537,820
<OTHER-INCOME> 0
<EXPENSES-NET> 35,869
<NET-INVESTMENT-INCOME> 501,951
<REALIZED-GAINS-CURRENT> 1,354,329
<APPREC-INCREASE-CURRENT> (1,096,793)
<NET-CHANGE-FROM-OPS> 759,487
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (615,704)
<DISTRIBUTIONS-OF-GAINS> (2,479,219)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 665,873
<NUMBER-OF-SHARES-REDEEMED> 892,559
<SHARES-REINVESTED> 224,120
<NET-CHANGE-IN-ASSETS> (36,124)
<ACCUMULATED-NII-PRIOR> 324
<ACCUMULATED-GAINS-PRIOR> 3,212
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,823,080
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,094,000
<AVERAGE-NET-ASSETS> 5,415,029
<PER-SHARE-NAV-BEGIN> 14.08
<PER-SHARE-NII> 1.05
<PER-SHARE-GAIN-APPREC> 0.94
<PER-SHARE-DIVIDEND> (0.84)
<PER-SHARE-DISTRIBUTIONS> (4.25)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.98
<EXPENSE-RATIO> 0.66
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 172
<NAME> Emerging Country Debt Fund, Class II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 679,071,415
<INVESTMENTS-AT-VALUE> 759,760,732
<RECEIVABLES> 32,619,822
<ASSETS-OTHER> 4,716,261
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 797,096,815
<PAYABLE-FOR-SECURITIES> 19,107,269
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,023,079
<TOTAL-LIABILITIES> 26,130,348
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 594,642,821
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 45,421,506
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42,383,504
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 88,518,636
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 186,964
<OTHER-INCOME> 0
<EXPENSES-NET> 12,140
<NET-INVESTMENT-INCOME> 174,824
<REALIZED-GAINS-CURRENT> 477,891
<APPREC-INCREASE-CURRENT> (256,396)
<NET-CHANGE-FROM-OPS> 396,319
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (162,060)
<DISTRIBUTIONS-OF-GAINS> (728,281)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 159,652
<NUMBER-OF-SHARES-REDEEMED> 236,149
<SHARES-REINVESTED> 76,497
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,823,080
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,094,000
<AVERAGE-NET-ASSETS> 2,029,328
<PER-SHARE-NAV-BEGIN> 13.74
<PER-SHARE-NII> 0.92
<PER-SHARE-GAIN-APPREC> 1.42
<PER-SHARE-DIVIDEND> (0.84)
<PER-SHARE-DISTRIBUTIONS> (4.25)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.99
<EXPENSE-RATIO> 0.6
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>173
<NAME> Emerging Country Debt Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 679,071,415
<INVESTMENTS-AT-VALUE> 759,760,732
<RECEIVABLES> 32,619,822
<ASSETS-OTHER> 4,716,261
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 797,096,815
<PAYABLE-FOR-SECURITIES> 19,107,269
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,023,079
<TOTAL-LIABILITIES> 26,130,348
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 594,642,821
<SHARES-COMMON-STOCK> 39,550,731
<SHARES-COMMON-PRIOR> 39,409,825
<ACCUMULATED-NII-CURRENT> 45,421,506
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42,383,504
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 88,518,636
<NET-ASSETS> 460,386,606
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 48,010,446
<OTHER-INCOME> 0
<EXPENSES-NET> 2,795,730
<NET-INVESTMENT-INCOME> 45,214,716
<REALIZED-GAINS-CURRENT> 128,628,037
<APPREC-INCREASE-CURRENT> (71,094,146)
<NET-CHANGE-FROM-OPS> 102,748,607
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (37,765,550)
<DISTRIBUTIONS-OF-GAINS> (156,588,472)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20,511,879
<NUMBER-OF-SHARES-REDEEMED> 36,173,053
<SHARES-REINVESTED> 15,802,080
<NET-CHANGE-IN-ASSETS> (95,065,627)
<ACCUMULATED-NII-PRIOR> 21,594,229
<ACCUMULATED-GAINS-PRIOR> 73,439,441
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,823,080
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,094,000
<AVERAGE-NET-ASSETS> 524,265,124
<PER-SHARE-NAV-BEGIN> 14.09
<PER-SHARE-NII> 1.13
<PER-SHARE-GAIN-APPREC> 1.51
<PER-SHARE-DIVIDEND> (0.84)
<PER-SHARE-DISTRIBUTIONS> (4.25)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.64
<EXPENSE-RATIO> 0.53
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>174
<NAME> Emerging Country Debt Fund, Class IV
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 679,071,415
<INVESTMENTS-AT-VALUE> 759,760,732
<RECEIVABLES> 32,619,822
<ASSETS-OTHER> 4,716,261
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 797,096,815
<PAYABLE-FOR-SECURITIES> 19,107,269
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,023,079
<TOTAL-LIABILITIES> 26,130,348
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 594,642,821
<SHARES-COMMON-STOCK> 26,699,294
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 45,421,506
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42,383,504
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 88,518,636
<NET-ASSETS> 310,579,861
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,522,161
<OTHER-INCOME> 0
<EXPENSES-NET> 162,676
<NET-INVESTMENT-INCOME> 2,359,485
<REALIZED-GAINS-CURRENT> 12,395,857
<APPREC-INCREASE-CURRENT> (901,148)
<NET-CHANGE-FROM-OPS> 13,854,194
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 26,699,294
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 310,579,861
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,823,080
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,094,000
<AVERAGE-NET-ASSETS> 32,889,181
<PER-SHARE-NAV-BEGIN> 10.99
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 0.54
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.63
<EXPENSE-RATIO> 0.500
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>183
<NAME> Global Hedged Equity Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 180,208,646
<INVESTMENTS-AT-VALUE> 173,400,724
<RECEIVABLES> 1,992,742
<ASSETS-OTHER> 493,443
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 175,886,909
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,181,240
<TOTAL-LIABILITIES> 5,181,240
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 190,539,226
<SHARES-COMMON-STOCK> 19,571,340
<SHARES-COMMON-PRIOR> 27,760,589
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 1,571,288
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 876,658
<ACCUM-APPREC-OR-DEPREC> (17,385,611)
<NET-ASSETS> 170,705,669
<DIVIDEND-INCOME> 5,726,931
<INTEREST-INCOME> 2,435,206
<OTHER-INCOME> 0
<EXPENSES-NET> 1,348,141
<NET-INVESTMENT-INCOME> 6,813,996
<REALIZED-GAINS-CURRENT> 17,777,218
<APPREC-INCREASE-CURRENT> 27,674,481
<NET-CHANGE-FROM-OPS> (3,083,267)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,516,906)
<DISTRIBUTIONS-OF-GAINS> (27,286,390)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 58,635
<NUMBER-OF-SHARES-REDEEMED> 11,741,685
<SHARES-REINVESTED> 3,493,801
<NET-CHANGE-IN-ASSETS> (125,996,283)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 7,873,611
<OVERDISTRIB-NII-PRIOR> (927,940)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,509,937
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,198,542
<AVERAGE-NET-ASSETS> 232,297,930
<PER-SHARE-NAV-BEGIN> 10.69
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> (0.52)
<PER-SHARE-DIVIDEND> (0.35)
<PER-SHARE-DISTRIBUTIONS> (1.45)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.72
<EXPENSE-RATIO> 0.58
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>191
<NAME> Domestic Bond Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 441,050,577
<INVESTMENTS-AT-VALUE> 447,952,864
<RECEIVABLES> 3,928,707
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 451,881,571
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 20,471,190
<TOTAL-LIABILITIES> 20,471,190
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 418,257,647
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 357,259
<ACCUMULATED-NII-CURRENT> 2,980,545
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,434,575
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,737,614
<NET-ASSETS> 0
<DIVIDEND-INCOME> 17,877
<INTEREST-INCOME> 164,442
<OTHER-INCOME> 0
<EXPENSES-NET> 10,345
<NET-INVESTMENT-INCOME> 171,974
<REALIZED-GAINS-CURRENT> 87,901
<APPREC-INCREASE-CURRENT> 72,148
<NET-CHANGE-FROM-OPS> 332,023
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (206,797)
<DISTRIBUTIONS-OF-GAINS> (76,406)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 46,389
<NUMBER-OF-SHARES-REDEEMED> 27,963
<SHARES-REINVESTED> 431,611
<NET-CHANGE-IN-ASSETS> (3,630,253)
<ACCUMULATED-NII-PRIOR> 25,781
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (17,795)
<GROSS-ADVISORY-FEES> 1,311,252
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,247,398
<AVERAGE-NET-ASSETS> 2,723,784
<PER-SHARE-NAV-BEGIN> 10.16
<PER-SHARE-NII> 0.56
<PER-SHARE-GAIN-APPREC> 0.56
<PER-SHARE-DIVIDEND> (0.68)
<PER-SHARE-DISTRIBUTIONS> (0.27)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.33
<EXPENSE-RATIO> 0.38
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>193
<NAME> Domestic Bond Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 441,050,577
<INVESTMENTS-AT-VALUE> 447,952,864
<RECEIVABLES> 3,928,707
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 451,881,571
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 20,471,190
<TOTAL-LIABILITIES> 20,471,190
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 418,257,647
<SHARES-COMMON-STOCK> 42,034,709
<SHARES-COMMON-PRIOR> 56,064,794
<ACCUMULATED-NII-CURRENT> 2,980,545
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,434,575
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,737,614
<NET-ASSETS> 431,410,381
<DIVIDEND-INCOME> 3,267,063
<INTEREST-INCOME> 30,054,801
<OTHER-INCOME> 0
<EXPENSES-NET> 1,304,422
<NET-INVESTMENT-INCOME> 32,017,442
<REALIZED-GAINS-CURRENT> 14,157,297
<APPREC-INCREASE-CURRENT> 8,992,038
<NET-CHANGE-FROM-OPS> 55,166,777
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (34,705,546)
<DISTRIBUTIONS-OF-GAINS> (10,245,112)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 22,386,390
<NUMBER-OF-SHARES-REDEEMED> 40,102,345
<SHARES-REINVESTED> 3,685,870
<NET-CHANGE-IN-ASSETS> (139,452,006)
<ACCUMULATED-NII-PRIOR> 5,677,691
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (471,310)
<GROSS-ADVISORY-FEES> 1,311,252
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,247,398
<AVERAGE-NET-ASSETS> 521,701,708
<PER-SHARE-NAV-BEGIN> 10.18
<PER-SHARE-NII> 0.67
<PER-SHARE-GAIN-APPREC> 0.38
<PER-SHARE-DIVIDEND> (0.70)
<PER-SHARE-DISTRIBUTIONS> (0.27)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.26
<EXPENSE-RATIO> 0.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>201
<NAME> Currency Hedged International Bond Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 306,760,482
<INVESTMENTS-AT-VALUE> 312,767,116
<RECEIVABLES> 23,918,025
<ASSETS-OTHER> 2,027,623
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 338,712,764
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,807,557
<TOTAL-LIABILITIES> 17,807,557
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 300,447,376
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 95,601
<ACCUMULATED-NII-CURRENT> 2,799,507
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,655,525
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,002,799
<NET-ASSETS> 0
<DIVIDEND-INCOME> 2,980
<INTEREST-INCOME> 75,256
<OTHER-INCOME> 0
<EXPENSES-NET> 5,818
<NET-INVESTMENT-INCOME> 72,418
<REALIZED-GAINS-CURRENT> 164,666
<APPREC-INCREASE-CURRENT> (63,933)
<NET-CHANGE-FROM-OPS> 173,151
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (93,768)
<DISTRIBUTIONS-OF-GAINS> (232,835)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,040
<NUMBER-OF-SHARES-REDEEMED> 132,046
<SHARES-REINVESTED> 30,405
<NET-CHANGE-IN-ASSETS> (1,162,376)
<ACCUMULATED-NII-PRIOR> 4,378
<ACCUMULATED-GAINS-PRIOR> 17,182
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,895,291
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,833,188
<AVERAGE-NET-ASSETS> 1,097,989
<PER-SHARE-NAV-BEGIN> 12.16
<PER-SHARE-NII> 0.69
<PER-SHARE-GAIN-APPREC> 0.90
<PER-SHARE-DIVIDEND> (0.87)
<PER-SHARE-DISTRIBUTIONS> (2.23)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.65
<EXPENSE-RATIO> 0.53
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>203
<NAME> Currency Hedged International Bond Fund, Class II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 306,760,482
<INVESTMENTS-AT-VALUE> 312,767,116
<RECEIVABLES> 23,918,025
<ASSETS-OTHER> 2,027,623
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 338,712,764
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,807,557
<TOTAL-LIABILITIES> 17,807,557
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 300,447,376
<SHARES-COMMON-STOCK> 30,095,080
<SHARES-COMMON-PRIOR> 38,558,577
<ACCUMULATED-NII-CURRENT> 2,799,507
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,655,525
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,002,799
<NET-ASSETS> 320,905,207
<DIVIDEND-INCOME> 992,270
<INTEREST-INCOME> 25,082,450
<OTHER-INCOME> 0
<EXPENSES-NET> 1,510,606
<NET-INVESTMENT-INCOME> 24,564,114
<REALIZED-GAINS-CURRENT> 61,707,394
<APPREC-INCREASE-CURRENT> (34,472,200)
<NET-CHANGE-FROM-OPS> 51,799,308
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (22,677,467)
<DISTRIBUTIONS-OF-GAINS> (65,046,883)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12,690,672
<NUMBER-OF-SHARES-REDEEMED> 28,743,588
<SHARES-REINVESTED> 7,589,419
<NET-CHANGE-IN-ASSETS> (148,073,639)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 21,675,491
<OVERDISTRIB-NII-PRIOR> (7,699,658)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,895,291
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,833,188
<AVERAGE-NET-ASSETS> 377,918,577
<PER-SHARE-NAV-BEGIN> 12.16
<PER-SHARE-NII> 0.88
<PER-SHARE-GAIN-APPREC> 0.73
<PER-SHARE-DIVIDEND> (0.88)
<PER-SHARE-DISTRIBUTIONS> (2.23)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.66
<EXPENSE-RATIO> 0.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>313
<NAME> Inflation Indexed Bond Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 25,832,986
<INVESTMENTS-AT-VALUE> 25,604,141
<RECEIVABLES> 117,407
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 25,721,548
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 61,471
<TOTAL-LIABILITIES> 61,471
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25,889,022
<SHARES-COMMON-STOCK> 2,556,935
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 8,573
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (220,372)
<NET-ASSETS> 25,660,077
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 684,863
<OTHER-INCOME> 0
<EXPENSES-NET> 36,162
<NET-INVESTMENT-INCOME> 648,701
<REALIZED-GAINS-CURRENT> 33,304
<APPREC-INCREASE-CURRENT> (220,372)
<NET-CHANGE-FROM-OPS> 461,633
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 696,307
<DISTRIBUTIONS-OF-GAINS> 4,126
<DISTRIBUTIONS-OTHER> 46,228
<NUMBER-OF-SHARES-SOLD> 2,662,887
<NUMBER-OF-SHARES-REDEEMED> 139,741
<SHARES-REINVESTED> 33,789
<NET-CHANGE-IN-ASSETS> 25,660,077
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 36,237
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 93,401
<AVERAGE-NET-ASSETS> 14,494,807
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.42
<PER-SHARE-GAIN-APPREC> (0.04)
<PER-SHARE-DIVIDEND> (0.32)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> (0.02)
<PER-SHARE-NAV-END> 10.04
<EXPENSE-RATIO> 0.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>213
<NAME> Currency Hedged International Core Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 571,601,361
<INVESTMENTS-AT-VALUE> 582,600,240
<RECEIVABLES> 26,709,557
<ASSETS-OTHER> 329,244
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 609,639,041
<PAYABLE-FOR-SECURITIES> 69,755
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 39,087,641
<TOTAL-LIABILITIES> 39,157,396
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 528,193,303
<SHARES-COMMON-STOCK> 17,425,016
<SHARES-COMMON-PRIOR> 45,811,127
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (7,787,554)
<ACCUMULATED-NET-GAINS> 33,155,953
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 16,919,943
<NET-ASSETS> 207,653,004
<DIVIDEND-INCOME> 13,797,150
<INTEREST-INCOME> 1,775,303
<OTHER-INCOME> 0
<EXPENSES-NET> 3,790,194
<NET-INVESTMENT-INCOME> 11,782,259
<REALIZED-GAINS-CURRENT> 86,451,002
<APPREC-INCREASE-CURRENT> (17,771,288)
<NET-CHANGE-FROM-OPS> 80,461,973
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12,103,195)
<DISTRIBUTIONS-OF-GAINS> (108,544,439)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,582,791
<NUMBER-OF-SHARES-REDEEMED> 47,260,509
<SHARES-REINVESTED> 10,291,607
<NET-CHANGE-IN-ASSETS> (353,240,942)
<ACCUMULATED-NII-PRIOR> 31,487,338
<ACCUMULATED-GAINS-PRIOR> 14,851,199
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,457,931
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,330,678
<AVERAGE-NET-ASSETS> 549,218,554
<PER-SHARE-NAV-BEGIN> 12.68
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> 1.72
<PER-SHARE-DIVIDEND> (0.27)
<PER-SHARE-DISTRIBUTIONS> (2.48)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.92
<EXPENSE-RATIO> 0.69
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>214
<NAME> Currency Hedged International Core Fund, Class IV
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 571,601,361
<INVESTMENTS-AT-VALUE> 582,600,240
<RECEIVABLES> 26,709,557
<ASSETS-OTHER> 329,244
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 609,639,041
<PAYABLE-FOR-SECURITIES> 69,755
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 39,087,641
<TOTAL-LIABILITIES> 39,157,396
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 528,193,303
<SHARES-COMMON-STOCK> 30,435,120
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 33,155,953
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 16,919,943
<NET-ASSETS> 362,828,641
<DIVIDEND-INCOME> 489,924
<INTEREST-INCOME> 121,597
<OTHER-INCOME> 0
<EXPENSES-NET> 284,724
<NET-INVESTMENT-INCOME> 326,797
<REALIZED-GAINS-CURRENT> 1,117,438
<APPREC-INCREASE-CURRENT> 10,828,764
<NET-CHANGE-FROM-OPS> 12,272,999
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 31,203,675
<NUMBER-OF-SHARES-REDEEMED> 768,555
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 342,623,502
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,457,931
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,330,678
<AVERAGE-NET-ASSETS> 45,171,637
<PER-SHARE-NAV-BEGIN> 10.87
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 1.04
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.92
<EXPENSE-RATIO> 0.630
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>221
<NAME> Global Bond Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 109,409,021
<INVESTMENTS-AT-VALUE> 109,011,794
<RECEIVABLES> 3,185,471
<ASSETS-OTHER> 383,469
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 112,580,734
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,528,658
<TOTAL-LIABILITIES> 7,528,658
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 104,956,998
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 63,643
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 549,020
<ACCUMULATED-NET-GAINS> 318,404
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 325,694
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 318,145
<OTHER-INCOME> 0
<EXPENSES-NET> 22,672
<NET-INVESTMENT-INCOME> 295,473
<REALIZED-GAINS-CURRENT> 427,793
<APPREC-INCREASE-CURRENT> 55,651
<NET-CHANGE-FROM-OPS> 778,917
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (308,025)
<DISTRIBUTIONS-OF-GAINS> (261,995)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 498,433
<NUMBER-OF-SHARES-REDEEMED> 618,948
<SHARES-REINVESTED> 56,872
<NET-CHANGE-IN-ASSETS> (646,038)
<ACCUMULATED-NII-PRIOR> 6,491
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (157,948)
<GROSS-ADVISORY-FEES> 297,447
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 605,225
<AVERAGE-NET-ASSETS> 4,828,763
<PER-SHARE-NAV-BEGIN> 10.15
<PER-SHARE-NII> 0.55
<PER-SHARE-GAIN-APPREC> 0.44
<PER-SHARE-DIVIDEND> (0.55)
<PER-SHARE-DISTRIBUTIONS> (0.46)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.13
<EXPENSE-RATIO> 0.47
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>223
<NAME> Global Bond Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 109,409,021
<INVESTMENTS-AT-VALUE> 109,011,794
<RECEIVABLES> 3,185,471
<ASSETS-OTHER> 383,469
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 112,580,734
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,528,658
<TOTAL-LIABILITIES> 7,528,658
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 104,956,998
<SHARES-COMMON-STOCK> 10,349,491
<SHARES-COMMON-PRIOR> 6,963,365
<ACCUMULATED-NII-CURRENT> 2,722,095
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,287,272
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,313,222)
<NET-ASSETS> 105,052,076
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,249,845
<OTHER-INCOME> 0
<EXPENSES-NET> 272,311
<NET-INVESTMENT-INCOME> 4,977,534
<REALIZED-GAINS-CURRENT> 2,146,945
<APPREC-INCREASE-CURRENT> 250,751
<NET-CHANGE-FROM-OPS> 7,375,230
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,712,549)
<DISTRIBUTIONS-OF-GAINS> (4,051,086)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,289,637
<NUMBER-OF-SHARES-REDEEMED> 627,568
<SHARES-REINVESTED> 724,057
<NET-CHANGE-IN-ASSETS> 34,283,804
<ACCUMULATED-NII-PRIOR> 1,188,677
<ACCUMULATED-GAINS-PRIOR> 218,074
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 297,447
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 605,225
<AVERAGE-NET-ASSETS> 80,098,828
<PER-SHARE-NAV-BEGIN> 10.16
<PER-SHARE-NII> 0.65
<PER-SHARE-GAIN-APPREC> 0.36
<PER-SHARE-DIVIDEND> (0.56)
<PER-SHARE-DISTRIBUTIONS> (0.46)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.15
<EXPENSE-RATIO> 0.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>231
<NAME> REIT Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 361,141,334
<INVESTMENTS-AT-VALUE> 379,571,176
<RECEIVABLES> 13,739,460
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 393,310,636
<PAYABLE-FOR-SECURITIES> 10,123,892
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,412,591
<TOTAL-LIABILITIES> 18,536,483
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 341,541,377
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 3,284
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,480,459
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 18,752,317
<NET-ASSETS> 0
<DIVIDEND-INCOME> 3,553
<INTEREST-INCOME> 225
<OTHER-INCOME> 0
<EXPENSES-NET> 643
<NET-INVESTMENT-INCOME> 3,135
<REALIZED-GAINS-CURRENT> 7,822
<APPREC-INCREASE-CURRENT> 2,808
<NET-CHANGE-FROM-OPS> 13,765
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,083)
<DISTRIBUTIONS-OF-GAINS> (7,273)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,339
<NUMBER-OF-SHARES-REDEEMED> 953
<SHARES-REINVESTED> 10,576
<NET-CHANGE-IN-ASSETS> (41,454)
<ACCUMULATED-NII-PRIOR> 100
<ACCUMULATED-GAINS-PRIOR> 121
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,765,300
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,501,330
<AVERAGE-NET-ASSETS> 78,480
<PER-SHARE-NAV-BEGIN> 12.62
<PER-SHARE-NII> 0.47
<PER-SHARE-GAIN-APPREC> 1.57
<PER-SHARE-DIVIDEND> (0.59)
<PER-SHARE-DISTRIBUTIONS> (0.89)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.18
<EXPENSE-RATIO> 0.82
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 232
<NAME> REIT Fund, Class II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 361,141,334
<INVESTMENTS-AT-VALUE> 379,571,176
<RECEIVABLES> 13,739,460
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 393,310,636
<PAYABLE-FOR-SECURITIES> 10,123,892
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,412,591
<TOTAL-LIABILITIES> 18,536,483
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 341,541,377
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,480,459
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 18,752,317
<NET-ASSETS> 0
<DIVIDEND-INCOME> 27,672
<INTEREST-INCOME> 1,755
<OTHER-INCOME> 0
<EXPENSES-NET> 4,728
<NET-INVESTMENT-INCOME> 24,699
<REALIZED-GAINS-CURRENT> 66,266
<APPREC-INCREASE-CURRENT> 163,248
<NET-CHANGE-FROM-OPS> 254,213
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,729)
<DISTRIBUTIONS-OF-GAINS> (26,734)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 181,864
<NUMBER-OF-SHARES-REDEEMED> 184,567
<SHARES-REINVESTED> 2,703
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,765,300
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,501,330
<AVERAGE-NET-ASSETS> 623,054
<PER-SHARE-NAV-BEGIN> 12.31
<PER-SHARE-NII> 0.14
<PER-SHARE-GAIN-APPREC> 1.27
<PER-SHARE-DIVIDEND> (0.05)
<PER-SHARE-DISTRIBUTIONS> (0.15)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.52
<EXPENSE-RATIO> 0.76
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>233
<NAME> REIT Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 361,141,334
<INVESTMENTS-AT-VALUE> 379,571,176
<RECEIVABLES> 13,739,460
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 393,310,636
<PAYABLE-FOR-SECURITIES> 10,123,892
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8,412,591
<TOTAL-LIABILITIES> 18,536,483
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 341,541,377
<SHARES-COMMON-STOCK> 29,015,600
<SHARES-COMMON-PRIOR> 20,672,613
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,480,459
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 18,752,317
<NET-ASSETS> 374,774,153
<DIVIDEND-INCOME> 16,562,148
<INTEREST-INCOME> 1,052,541
<OTHER-INCOME> 0
<EXPENSES-NET> 2,534,662
<NET-INVESTMENT-INCOME> 15,080,027
<REALIZED-GAINS-CURRENT> 35,693,571
<APPREC-INCREASE-CURRENT> (3,747,028)
<NET-CHANGE-FROM-OPS> 47,026,570
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (16,578,615)
<DISTRIBUTIONS-OF-GAINS> (24,529,349)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12,232,100
<NUMBER-OF-SHARES-REDEEMED> 6,643,834
<SHARES-REINVESTED> 2,754,721
<NET-CHANGE-IN-ASSETS> 113,845,303
<ACCUMULATED-NII-PRIOR> 1,209,763
<ACCUMULATED-GAINS-PRIOR> 3,551,895
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,765,300
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,501,330
<AVERAGE-NET-ASSETS> 368,002,612
<PER-SHARE-NAV-BEGIN> 12.62
<PER-SHARE-NII> 0.53
<PER-SHARE-GAIN-APPREC> 1.26
<PER-SHARE-DIVIDEND> (0.60)
<PER-SHARE-DISTRIBUTIONS> (0.89)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.92
<EXPENSE-RATIO> 0.69
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>241
<NAME> Foreign Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 1,008,985,023
<INVESTMENTS-AT-VALUE> 1,157,505,450
<RECEIVABLES> 11,815,988
<ASSETS-OTHER> 4,862,761
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,174,184,199
<PAYABLE-FOR-SECURITIES> 10,179,794
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 42,843,181
<TOTAL-LIABILITIES> 53,022,975
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 977,911,429
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 459,112
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 343,662
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 4,941,071
<ACCUM-APPREC-OR-DEPREC> 148,534,528
<NET-ASSETS> 0
<DIVIDEND-INCOME> 197,106
<INTEREST-INCOME> 43,684
<OTHER-INCOME> 0
<EXPENSES-NET> 78,726
<NET-INVESTMENT-INCOME> 162,064
<REALIZED-GAINS-CURRENT> (32,792)
<APPREC-INCREASE-CURRENT> (295,526)
<NET-CHANGE-FROM-OPS> (166,254)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (265,008)
<DISTRIBUTIONS-OF-GAINS> (5,149)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 826,358
<NUMBER-OF-SHARES-REDEEMED> 1,310,014
<SHARES-REINVESTED> 24,544
<NET-CHANGE-IN-ASSETS> (4,702,301)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (9,147)
<OVERDIST-NET-GAINS-PRIOR> (28,350)
<GROSS-ADVISORY-FEES> 7,035,104
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,432,478
<AVERAGE-NET-ASSETS> 8,918,642
<PER-SHARE-NAV-BEGIN> 10.65
<PER-SHARE-NII> 0.18
<PER-SHARE-GAIN-APPREC> 0.28
<PER-SHARE-DIVIDEND> (0.22)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.89
<EXPENSE-RATIO> 0.88
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 242
<NAME> Foreign Fund, Class II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 1,008,985,023
<INVESTMENTS-AT-VALUE> 1,157,505,450
<RECEIVABLES> 11,815,988
<ASSETS-OTHER> 4,862,761
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,174,184,199
<PAYABLE-FOR-SECURITIES> 10,179,794
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 42,843,181
<TOTAL-LIABILITIES> 53,022,975
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 977,911,429
<SHARES-COMMON-STOCK> 4,460,629
<SHARES-COMMON-PRIOR> 2,061,100
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 343,662
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 4,941,071
<ACCUM-APPREC-OR-DEPREC> 148,534,528
<NET-ASSETS> 53,949,208
<DIVIDEND-INCOME> 539,594
<INTEREST-INCOME> 141,646
<OTHER-INCOME> 0
<EXPENSES-NET> 232,122
<NET-INVESTMENT-INCOME> 449,118
<REALIZED-GAINS-CURRENT> 121,869
<APPREC-INCREASE-CURRENT> 5,820,605
<NET-CHANGE-FROM-OPS> 6,391,592
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (647,192)
<DISTRIBUTIONS-OF-GAINS> (12,389)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,339,569
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 59,960
<NET-CHANGE-IN-ASSETS> 32,157,832
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (47,418)
<OVERDIST-NET-GAINS-PRIOR> (81,327)
<GROSS-ADVISORY-FEES> 7,035,104
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,432,478
<AVERAGE-NET-ASSETS> 28,136,846
<PER-SHARE-NAV-BEGIN> 10.65
<PER-SHARE-NII> 0.18
<PER-SHARE-GAIN-APPREC> 1.48
<PER-SHARE-DIVIDEND> (0.22)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.09
<EXPENSE-RATIO> 0.82
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>243
<NAME> Foreign Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 1,008,985,023
<INVESTMENTS-AT-VALUE> 1,157,505,450
<RECEIVABLES> 11,815,988
<ASSETS-OTHER> 4,862,761
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,174,184,199
<PAYABLE-FOR-SECURITIES> 10,179,794
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 42,843,181
<TOTAL-LIABILITIES> 53,022,975
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 977,911,429
<SHARES-COMMON-STOCK> 70,009,604
<SHARES-COMMON-PRIOR> 63,052,464
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 343,662
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 4,941,071
<ACCUM-APPREC-OR-DEPREC> 148,534,528
<NET-ASSETS> 847,427,349
<DIVIDEND-INCOME> 18,007,787
<INTEREST-INCOME> 4,324,510
<OTHER-INCOME> 0
<EXPENSES-NET> 6,568,625
<NET-INVESTMENT-INCOME> 15,763,672
<REALIZED-GAINS-CURRENT> 345,890
<APPREC-INCREASE-CURRENT> 71,673,928
<NET-CHANGE-FROM-OPS> 87,783,490
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (18,851,879)
<DISTRIBUTIONS-OF-GAINS> (348,959)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 29,233,963
<NUMBER-OF-SHARES-REDEEMED> 23,128,254
<SHARES-REINVESTED> 851,431
<NET-CHANGE-IN-ASSETS> 166,741,377
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (19,709)
<OVERDIST-NET-GAINS-PRIOR> (2,753,948)
<GROSS-ADVISORY-FEES> 7,035,104
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,432,478
<AVERAGE-NET-ASSETS> 874,143,495
<PER-SHARE-NAV-BEGIN> 10.66
<PER-SHARE-NII> 0.21
<PER-SHARE-GAIN-APPREC> 1.45
<PER-SHARE-DIVIDEND> (0.22)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.10
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>244
<NAME> Foreign Fund, Class IV
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 1,008,985,023
<INVESTMENTS-AT-VALUE> 1,157,505,450
<RECEIVABLES> 11,815,988
<ASSETS-OTHER> 4,862,761
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,174,184,199
<PAYABLE-FOR-SECURITIES> 10,179,794
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 42,843,181
<TOTAL-LIABILITIES> 53,022,975
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 977,911,429
<SHARES-COMMON-STOCK> 18,152,694
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 343,662
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 4,941,071
<ACCUM-APPREC-OR-DEPREC> 148,534,528
<NET-ASSETS> 219,784,667
<DIVIDEND-INCOME> 106,467
<INTEREST-INCOME> 146,291
<OTHER-INCOME> 0
<EXPENSES-NET> 183,498
<NET-INVESTMENT-INCOME> 69,260
<REALIZED-GAINS-CURRENT> 906,661
<APPREC-INCREASE-CURRENT> 29,117,678
<NET-CHANGE-FROM-OPS> 30,093,599
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18,491,750
<NUMBER-OF-SHARES-REDEEMED> 339,056
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 228,287,591
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,035,104
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 9,432,478
<AVERAGE-NET-ASSETS> 26,699,117
<PER-SHARE-NAV-BEGIN> 10.90
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 1.21
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.11
<EXPENSE-RATIO> 0.690
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>281
<NAME> International Equity Allocation Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 92,061,298
<INVESTMENTS-AT-VALUE> 85,888,981
<RECEIVABLES> 5,550
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 85,894,531
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 19,024
<TOTAL-LIABILITIES> 19,024
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 87,829,911
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,217,913
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (6,172,317)
<NET-ASSETS> 0
<DIVIDEND-INCOME> 161,451
<INTEREST-INCOME> 6,349
<OTHER-INCOME> 0
<EXPENSES-NET> 3,879
<NET-INVESTMENT-INCOME> 163,921
<REALIZED-GAINS-CURRENT> 649,980
<APPREC-INCREASE-CURRENT> (1,418,141)
<NET-CHANGE-FROM-OPS> (604,240)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (195,609)
<DISTRIBUTIONS-OF-GAINS> (338,565)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 679,610
<NUMBER-OF-SHARES-REDEEMED> 735,845
<SHARES-REINVESTED> 56,235
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 75,010
<AVERAGE-NET-ASSETS> 2,983,097
<PER-SHARE-NAV-BEGIN> 10.17
<PER-SHARE-NII> 0.45
<PER-SHARE-GAIN-APPREC> (0.65)
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> (0.58)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.10
<EXPENSE-RATIO> 0.13
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 282
<NAME> International Equity Allocation Fund, Class II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 92,061,298
<INVESTMENTS-AT-VALUE> 85,888,981
<RECEIVABLES> 5,550
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 85,894,531
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 19,024
<TOTAL-LIABILITIES> 19,024
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 87,829,911
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1,487,501
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,217,913
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (6,172,317)
<NET-ASSETS> 0
<DIVIDEND-INCOME> 470,523
<INTEREST-INCOME> (13,667)
<OTHER-INCOME> 0
<EXPENSES-NET> 9,693
<NET-INVESTMENT-INCOME> 447,163
<REALIZED-GAINS-CURRENT> 1,602,228
<APPREC-INCREASE-CURRENT> (2,840,766)
<NET-CHANGE-FROM-OPS> (791,375)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (431,332)
<DISTRIBUTIONS-OF-GAINS> (872,870)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 1,622,588
<SHARES-REINVESTED> 135,087
<NET-CHANGE-IN-ASSETS> (15,489,842)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 592,741
<OVERDISTRIB-NII-PRIOR> (100,644)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 75,010
<AVERAGE-NET-ASSETS> 13,844,449
<PER-SHARE-NAV-BEGIN> 10.41
<PER-SHARE-NII> 0.30
<PER-SHARE-GAIN-APPREC> (0.74)
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> (0.58)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.10
<EXPENSE-RATIO> 0.07
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>283
<NAME> International Equity Allocation Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 92,061,298
<INVESTMENTS-AT-VALUE> 85,888,981
<RECEIVABLES> 5,550
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 85,894,531
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 19,024
<TOTAL-LIABILITIES> 19,024
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 87,829,911
<SHARES-COMMON-STOCK> 8,435,792
<SHARES-COMMON-PRIOR> 2,925,208
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,217,913
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (6,172,317)
<NET-ASSETS> 85,875,507
<DIVIDEND-INCOME> 1,620,532
<INTEREST-INCOME> 10,006
<OTHER-INCOME> 0
<EXPENSES-NET> (3)
<NET-INVESTMENT-INCOME> 1,630,541
<REALIZED-GAINS-CURRENT> 5,799,728
<APPREC-INCREASE-CURRENT> (2,469,261)
<NET-CHANGE-FROM-OPS> 4,961,008
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,618,761)
<DISTRIBUTIONS-OF-GAINS> (3,087,812)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,640,062
<NUMBER-OF-SHARES-REDEEMED> 517,553
<SHARES-REINVESTED> 388,075
<NET-CHANGE-IN-ASSETS> 55,416,447
<ACCUMULATED-NII-PRIOR> 100,644
<ACCUMULATED-GAINS-PRIOR> 123,336
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 75,010
<AVERAGE-NET-ASSETS> 52,111,421
<PER-SHARE-NAV-BEGIN> 10.41
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> 0.31
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> (0.58)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.18
<EXPENSE-RATIO> 0.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>251
<NAME> World Equity Allocation Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 52,584,764
<INVESTMENTS-AT-VALUE> 50,964,750
<RECEIVABLES> 5,079
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 50,969,829
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 18,174
<TOTAL-LIABILITIES> 18,174
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50,308,786
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 896,088
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,262,883
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,620,014)
<NET-ASSETS> 0
<DIVIDEND-INCOME> 262,671
<INTEREST-INCOME> (3,149)
<OTHER-INCOME> 0
<EXPENSES-NET> 11,167
<NET-INVESTMENT-INCOME> 248,355
<REALIZED-GAINS-CURRENT> 1,535,741
<APPREC-INCREASE-CURRENT> (1,553,975)
<NET-CHANGE-FROM-OPS> 230,121
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (239,774)
<DISTRIBUTIONS-OF-GAINS> (1,057,705)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 204
<NUMBER-OF-SHARES-REDEEMED> 985,264
<SHARES-REINVESTED> 88,972
<NET-CHANGE-IN-ASSETS> (9,424,152)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 10,160
<OVERDISTRIB-NII-PRIOR> (15,117)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 65,194
<AVERAGE-NET-ASSETS> 8,619,633
<PER-SHARE-NAV-BEGIN> 10.52
<PER-SHARE-NII> 0.28
<PER-SHARE-GAIN-APPREC> 0.02
<PER-SHARE-DIVIDEND> (0.27)
<PER-SHARE-DISTRIBUTIONS> (1.17)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.38
<EXPENSE-RATIO> 0.13
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>253
<NAME> World Equity Allocation Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 52,584,764
<INVESTMENTS-AT-VALUE> 50,964,750
<RECEIVABLES> 5,079
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 50,969,829
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 18,174
<TOTAL-LIABILITIES> 18,174
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50,308,786
<SHARES-COMMON-STOCK> 4,904,301
<SHARES-COMMON-PRIOR> 3,494,003
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,262,883
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,620,014)
<NET-ASSETS> 50,951,655
<DIVIDEND-INCOME> 1,082,528
<INTEREST-INCOME> 3,752
<OTHER-INCOME> 0
<EXPENSES-NET> 5
<NET-INVESTMENT-INCOME> 1,086,275
<REALIZED-GAINS-CURRENT> 6,097,418
<APPREC-INCREASE-CURRENT> (1,435,861)
<NET-CHANGE-FROM-OPS> 5,747,832
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,096,629)
<DISTRIBUTIONS-OF-GAINS> (4,579,052)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,510,385
<NUMBER-OF-SHARES-REDEEMED> 1,664,735
<SHARES-REINVESTED> 564,648
<NET-CHANGE-IN-ASSETS> 14,205,515
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 263,266
<OVERDISTRIB-NII-PRIOR> (3,403)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 65,194
<AVERAGE-NET-ASSETS> 41,062,228
<PER-SHARE-NAV-BEGIN> 10.52
<PER-SHARE-NII> 0.29
<PER-SHARE-GAIN-APPREC> 1.03
<PER-SHARE-DIVIDEND> (0.28)
<PER-SHARE-DISTRIBUTIONS> (1.17)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.39
<EXPENSE-RATIO> 0.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>291
<NAME> Global (US+) Equity Allocation Fund Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 44,331,566
<INVESTMENTS-AT-VALUE> 45,112,004
<RECEIVABLES> 4,689
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 45,116,693
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15,693
<TOTAL-LIABILITIES> 15,693
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 43,203,821
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,116,741
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 780,438
<NET-ASSETS> 0
<DIVIDEND-INCOME> 24,658
<INTEREST-INCOME> 1,020
<OTHER-INCOME> 0
<EXPENSES-NET> 1,009
<NET-INVESTMENT-INCOME> 24,669
<REALIZED-GAINS-CURRENT> 186,425
<APPREC-INCREASE-CURRENT> (146,245)
<NET-CHANGE-FROM-OPS> 64,849
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (27,603)
<DISTRIBUTIONS-OF-GAINS> (175,698)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 107,248
<NUMBER-OF-SHARES-REDEEMED> 127,855
<SHARES-REINVESTED> 20,607
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 43,804
<AVERAGE-NET-ASSETS> 776,202
<PER-SHARE-NAV-BEGIN> 10.24
<PER-SHARE-NII> 0.25
<PER-SHARE-GAIN-APPREC> 0.93
<PER-SHARE-DIVIDEND> (0.26)
<PER-SHARE-DISTRIBUTIONS> (1.65)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.51
<EXPENSE-RATIO> 0.13
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>293
<NAME> Global (US+) Equity Allocation Fund Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 44,331,566
<INVESTMENTS-AT-VALUE> 45,112,004
<RECEIVABLES> 4,689
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 45,116,693
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15,693
<TOTAL-LIABILITIES> 15,693
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 43,203,821
<SHARES-COMMON-STOCK> 4,301,488
<SHARES-COMMON-PRIOR> 2,988,868
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,116,741
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 780,438
<NET-ASSETS> 45,101,000
<DIVIDEND-INCOME> 911,023
<INTEREST-INCOME> 220
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 911,243
<REALIZED-GAINS-CURRENT> 6,278,345
<APPREC-INCREASE-CURRENT> 549,051
<NET-CHANGE-FROM-OPS> 7,738,639
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (911,445)
<DISTRIBUTIONS-OF-GAINS> (5,674,854)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,472,906
<NUMBER-OF-SHARES-REDEEMED> 352,601
<SHARES-REINVESTED> 192,315
<NET-CHANGE-IN-ASSETS> 14,314,421
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 537,287
<OVERDISTRIB-NII-PRIOR> (8)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 43,804
<AVERAGE-NET-ASSETS> 38,169,783
<PER-SHARE-NAV-BEGIN> 10.30
<PER-SHARE-NII> 0.26
<PER-SHARE-GAIN-APPREC> 1.83
<PER-SHARE-DIVIDEND> (0.26)
<PER-SHARE-DISTRIBUTIONS> (1.65)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.48
<EXPENSE-RATIO> 0.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>261
<NAME> Global Balanced Allocation Fund, Class I
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 115,757,678
<INVESTMENTS-AT-VALUE> 115,291,892
<RECEIVABLES> 5,201
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 115,297,093
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,527
<TOTAL-LIABILITIES> 17,527
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 112,448,328
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 612,128
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,297,024
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (465,786)
<NET-ASSETS> 0
<DIVIDEND-INCOME> 619,646
<INTEREST-INCOME> 1,171
<OTHER-INCOME> 0
<EXPENSES-NET> 14,890
<NET-INVESTMENT-INCOME> 605,927
<REALIZED-GAINS-CURRENT> 2,192,576
<APPREC-INCREASE-CURRENT> (1,791,787)
<NET-CHANGE-FROM-OPS> 1,006,716
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (614,562)
<DISTRIBUTIONS-OF-GAINS> (1,560,218)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,325,598
<NUMBER-OF-SHARES-REDEEMED> 2,123,092
<SHARES-REINVESTED> 185,366
<NET-CHANGE-IN-ASSETS> (6,848,458)
<ACCUMULATED-NII-PRIOR> 833
<ACCUMULATED-GAINS-PRIOR> 156,375
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 88,608
<AVERAGE-NET-ASSETS> 11,497,944
<PER-SHARE-NAV-BEGIN> 11.19
<PER-SHARE-NII> 0.55
<PER-SHARE-GAIN-APPREC> 0.65
<PER-SHARE-DIVIDEND> (0.32)
<PER-SHARE-DISTRIBUTIONS> (0.83)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.24
<EXPENSE-RATIO> 0.13
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 262
<NAME> Global Balanced Allocation Fund, Class II
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 115,757,678
<INVESTMENTS-AT-VALUE> 115,291,892
<RECEIVABLES> 5,201
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 115,297,093
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,527
<TOTAL-LIABILITIES> 17,527
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 112,448,328
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1,283,396
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,297,024
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (465,786)
<NET-ASSETS> 0
<DIVIDEND-INCOME> 1,656,785
<INTEREST-INCOME> 3,126
<OTHER-INCOME> 0
<EXPENSES-NET> 21,510
<NET-INVESTMENT-INCOME> 1,638,401
<REALIZED-GAINS-CURRENT> 6,031,498
<APPREC-INCREASE-CURRENT> (4,030,033)
<NET-CHANGE-FROM-OPS> 3,639,866
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,674,507)
<DISTRIBUTIONS-OF-GAINS> (4,205,151)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,870,787
<NUMBER-OF-SHARES-REDEEMED> 5,625,582
<SHARES-REINVESTED> 471,399
<NET-CHANGE-IN-ASSETS> (14,359,121)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (833)
<OVERDIST-NET-GAINS-PRIOR> (565)
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 88,608
<AVERAGE-NET-ASSETS> 30,872,335
<PER-SHARE-NAV-BEGIN> 11.19
<PER-SHARE-NII> 0.55
<PER-SHARE-GAIN-APPREC> 0.66
<PER-SHARE-DIVIDEND> (0.33)
<PER-SHARE-DISTRIBUTIONS> (0.83)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.24
<EXPENSE-RATIO> 0.07
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>263
<NAME> Global Balanced Allocation Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 115,757,678
<INVESTMENTS-AT-VALUE> 115,291,892
<RECEIVABLES> 5,201
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 115,297,093
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,527
<TOTAL-LIABILITIES> 17,527
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 112,448,328
<SHARES-COMMON-STOCK> 9,707,961
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,297,024
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (465,786)
<NET-ASSETS> 115,279,566
<DIVIDEND-INCOME> 445,711
<INTEREST-INCOME> 860
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 446,571
<REALIZED-GAINS-CURRENT> 1,765,271
<APPREC-INCREASE-CURRENT> 4,581,944
<NET-CHANGE-FROM-OPS> 6,793,786
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (410,810)
<DISTRIBUTIONS-OF-GAINS> (1,039,983)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,599,238
<NUMBER-OF-SHARES-REDEEMED> 19,083
<SHARES-REINVESTED> 127,806
<NET-CHANGE-IN-ASSETS> 115,279,566
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 88,608
<AVERAGE-NET-ASSETS> 23,335,567
<PER-SHARE-NAV-BEGIN> 11.56
<PER-SHARE-NII> 0.17
<PER-SHARE-GAIN-APPREC> 1.30
<PER-SHARE-DIVIDEND> (0.33)
<PER-SHARE-DISTRIBUTIONS> (0.83)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.87
<EXPENSE-RATIO> 0.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>303
<NAME> Global Properties Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 10,034,115
<INVESTMENTS-AT-VALUE> 10,006,608
<RECEIVABLES> 7,300
<ASSETS-OTHER> 122,686
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10,136,594
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 75,535
<TOTAL-LIABILITIES> 75,535
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,981,711
<SHARES-COMMON-STOCK> 992,142
<SHARES-COMMON-PRIOR> 940,343
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 111,901
<ACCUMULATED-NET-GAINS> 219,695
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (28,446)
<NET-ASSETS> 10,061,059
<DIVIDEND-INCOME> 275,629
<INTEREST-INCOME> 154,424
<OTHER-INCOME> 0
<EXPENSES-NET> 142,433
<NET-INVESTMENT-INCOME> 287,620
<REALIZED-GAINS-CURRENT> 86,654
<APPREC-INCREASE-CURRENT> 15,639
<NET-CHANGE-FROM-OPS> 389,913
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (306,831)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 24,144
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 27,655
<NET-CHANGE-IN-ASSETS> 596,704
<ACCUMULATED-NII-PRIOR> 40,351
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 74,657
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 219,723
<AVERAGE-NET-ASSETS> 9,954,313
<PER-SHARE-NAV-BEGIN> 10.06
<PER-SHARE-NII> 0.30
<PER-SHARE-GAIN-APPREC> 0.10
<PER-SHARE-DIVIDEND> (0.32)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.14
<EXPENSE-RATIO> 1.43
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>323
<NAME> US Bond/Global Alpha A Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 233,359,510
<INVESTMENTS-AT-VALUE> 233,770,534
<RECEIVABLES> 6,171,018
<ASSETS-OTHER> 332,831
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 240,274,383
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11,888,357
<TOTAL-LIABILITIES> 11,888,357
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 223,718,576
<SHARES-COMMON-STOCK> 21,548,708
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2,266,216
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,354,269
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 46,965
<NET-ASSETS> 228,386,026
<DIVIDEND-INCOME> 398,100
<INTEREST-INCOME> 8,807,383
<OTHER-INCOME> 0
<EXPENSES-NET> 571,943
<NET-INVESTMENT-INCOME> 8,633,540
<REALIZED-GAINS-CURRENT> 8,962,123
<APPREC-INCREASE-CURRENT> 46,965
<NET-CHANGE-FROM-OPS> 17,642,628
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,715,005)
<DISTRIBUTIONS-OF-GAINS> (7,260,173)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 23,536,230
<NUMBER-OF-SHARES-REDEEMED> 2,894,072
<SHARES-REINVESTED> 906,550
<NET-CHANGE-IN-ASSETS> 228,386,026
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 571,318
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 933,082
<AVERAGE-NET-ASSETS> 142,789,344
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.55
<PER-SHARE-GAIN-APPREC> 0.66
<PER-SHARE-DIVIDEND> (0.27)
<PER-SHARE-DISTRIBUTIONS> (0.34)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.60
<EXPENSE-RATIO> 0.40
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>333
<NAME> US Bond/Global Alpha B Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 402,851,057
<INVESTMENTS-AT-VALUE> 403,331,378
<RECEIVABLES> 5,662,795
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 408,994,173
<PAYABLE-FOR-SECURITIES> 3,099,114
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 25,290,478
<TOTAL-LIABILITIES> 28,389,592
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 375,106,837
<SHARES-COMMON-STOCK> 37,541,918
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1,144,792
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,450,365
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 902,587
<NET-ASSETS> 380,604,581
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 13,470,922
<OTHER-INCOME> 0
<EXPENSES-NET> 755,936
<NET-INVESTMENT-INCOME> 12,714,986
<REALIZED-GAINS-CURRENT> 1,822,174
<APPREC-INCREASE-CURRENT> 902,587
<NET-CHANGE-FROM-OPS> 15,439,747
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,602,708)
<DISTRIBUTIONS-OF-GAINS> (2,339,295)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 37,287,695
<NUMBER-OF-SHARES-REDEEMED> 736,016
<SHARES-REINVESTED> 990,239
<NET-CHANGE-IN-ASSETS> 380,604,581
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 865,631
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,365,541
<AVERAGE-NET-ASSETS> 216,407,633
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> 0.06
<PER-SHARE-DIVIDEND> (0.21)
<PER-SHARE-DISTRIBUTIONS> (0.06)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.14
<EXPENSE-RATIO> 0.35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>343
<NAME> Evolving Countries Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 41,420,784
<INVESTMENTS-AT-VALUE> 40,411,481
<RECEIVABLES> 221,738
<ASSETS-OTHER> 543,019
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 41,176,238
<PAYABLE-FOR-SECURITIES> 1,349,155
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 128,731
<TOTAL-LIABILITIES> 1,477,886
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 42,117,498
<SHARES-COMMON-STOCK> 4,612,685
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 137,543
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,553,325)
<ACCUM-APPREC-OR-DEPREC> (1,003,364)
<NET-ASSETS> 39,698,352
<DIVIDEND-INCOME> 186,718
<INTEREST-INCOME> 102,450
<OTHER-INCOME> 0
<EXPENSES-NET> 196,119
<NET-INVESTMENT-INCOME> 93,049
<REALIZED-GAINS-CURRENT> (1,508,831)
<APPREC-INCREASE-CURRENT> (1,003,364)
<NET-CHANGE-FROM-OPS> (2,419,146)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,671,266
<NUMBER-OF-SHARES-REDEEMED> 58,581
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 39,698,352
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 94,952
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 273,945
<AVERAGE-NET-ASSETS> 11,868,985
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> (1.42)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 8.61
<EXPENSE-RATIO> 1.65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from GMO Trust, form
N-SAR for the period ended February 28, 1998
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>353
<NAME> Asia Fund, Class III
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> FEB-28-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 43,463,408
<INVESTMENTS-AT-VALUE> 43,875,945
<RECEIVABLES> 10,265,584
<ASSETS-OTHER> 524,078
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 54,665,607
<PAYABLE-FOR-SECURITIES> 14,483,094
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21,628
<TOTAL-LIABILITIES> 14,504,722
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39,654,636
<SHARES-COMMON-STOCK> 3,845,283
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 110,171
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (17,997)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 414,075
<NET-ASSETS> 40,160,885
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 17,279
<OTHER-INCOME> 0
<EXPENSES-NET> 8,084
<NET-INVESTMENT-INCOME> 9,195
<REALIZED-GAINS-CURRENT> 82,979
<APPREC-INCREASE-CURRENT> 414,075
<NET-CHANGE-FROM-OPS> 506,249
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,845,283
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 40,160,885
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,209
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 21,627
<AVERAGE-NET-ASSETS> 320,943
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 0.43
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.44
<EXPENSE-RATIO> 2.52
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE>
<CAPTION>
GMO Trust
FYE 2/28/98
Attachment Filed in Response to Form N-SAR Sub-Item 77P
Monthly Average Assets
Fund Name March April May
<S> <C> <C> <C>
Core Fund $ 3,122,252,244 $ 2,929,527,430 $ 3,202,625,644
Growth Fund 218,253,795 188,962,042 201,068,827
Value Fund 447,637,531 413,209,663 431,508,474
Short Term Income Fund 41,149,723 41,463,926 44,198,145
International Core Fund 4,226,513,880 4,121,014,378 4,348,976,909
Japan Fund 212,799,801 208,598,745 238,990,621
Tobacco Free Core Fund 66,240,896 64,092,551 69,902,806
Fundamental Value Fund 232,895,456 219,519,225 227,232,979
International Small Companies Fund 227,099,261 217,647,947 231,456,640
Small Cap Value Fund 653,283,163 651,798,903 703,687,962
Pelican Fund 206,260,958 197,280,364 206,914,034
US Sector Fund 228,911,640 220,237,649 224,186,044
International Bond Fund 233,215,894 230,725,163 235,071,755
Small Cap Growth Fund 161,419,495 161,991,965 178,992,357
Emerging Markets Fund 1,700,066,286 1,675,506,853 1,735,874,720
Emerging Markets Fund 533,924,128 493,589,970 508,439,864
Global Hedged Equity Fund 295,197,076 291,346,268 276,625,454
Domestic Bond Fund 573,031,275 610,464,008 608,572,642
Currency Hedged International Bond Fund 467,970,894 470,712,047 455,381,941
Inflation Indexed Bond Fund 0 2,051,800 4,966,370
Currency Hedged International Core Fund 581,589,046 576,564,918 600,721,752
Global Bond Fund 75,844,082 78,529,357 80,802,117
REIT Fund 296,851,723 319,507,771 331,798,534
Foreign Fund 697,964,805 705,520,214 758,692,853
International Equity Allocation Fund 45,013,887 43,082,228 48,058,172
World Equity Allocation Fund 44,568,798 41,803,477 46,774,079
Global (US+) Equity Allocation Fund 30,853,330 33,240,140 36,690,635
Global Balanced Allocation Fund 21,824,193 28,063,167 40,353,319
Global Properties Fund 9,517,314 9,487,929 9,756,360
US Bond/Global Alpha A Fund 0 0 63,364,408
US Bond/Global Alpha B Fund 0 0 0
Evolving Countries Fund 0 0 0
Asia Fund 0 0 0
Fund Name June July August
Core Fund $ 3,304,904,266 $ 3,342,794,094 $ 3,454,732,267
Growth Fund 202,411,004 206,522,836 213,270,455
Value Fund 431,897,172 414,570,985 398,321,128
Short Term Income Fund 46,081,173 50,097,470 56,691,531
International Core Fund 4,399,828,048 4,427,926,146 4,236,020,227
Japan Fund 266,849,762 270,833,629 233,790,650
Tobacco Free Core Fund 73,310,392 78,255,194 80,900,220
Fundamental Value Fund 233,677,544 229,109,570 216,588,292
International Small Companies Fund 241,854,884 244,497,433 247,482,165
Small Cap Value Fund 747,717,037 744,981,688 733,962,010
Pelican Fund 217,412,128 221,536,279 227,288,623
US Sector Fund 216,863,538 171,243,870 158,166,427
International Bond Fund 250,475,971 278,694,741 281,086,925
Small Cap Growth Fund 200,633,049 268,889,454 349,480,765
Emerging Markets Fund 1,855,355,383 1,949,909,891 1,984,918,590
Emerging Country Debt Fund 540,103,045 526,068,358 528,488,774
Global Hedged Equity Fund 272,400,871 268,276,081 233,629,184
Domestic Bond Fund 635,297,864 649,081,077 461,863,792
Currency Hedged International Bond Fund 453,151,964 470,179,021 337,860,026
Inflation Indexed Bond Fund 10,728,689 11,053,489 15,288,552
Currency Hedged International Core Fund 616,980,121 591,988,262 619,293,649
Global Bond Fund 80,277,321 79,416,160 79,667,489
REIT Fund 353,718,657 361,274,919 369,686,288
Foreign Fund 838,865,730 994,244,218 1,018,075,431
International Equity Allocation Fund 66,588,979 70,286,410 72,763,962
World Equity Allocation Fund 48,587,045 50,635,326 50,605,254
Global (US+) Equity Allocation Fund 38,757,550 39,641,473 40,987,569
Global Balanced Allocation Fund 58,037,168 63,088,001 64,649,340
Global Properties Fund 9,848,291 10,050,513 10,114,244
US Bond/Global Alpha A Fund 83,245,723 93,681,778 136,243,013
US Bond/Global Alpha B Fund 0 10,918,127 337,820,540
Evolving Countries Fund 0 0 18,703,000
Asia Fund 0 0 0
Fund Name September October November
Core Fund $ 3,630,342,293 $ 3,694,885,116 $ 3,495,883,059
Growth Fund 206,748,120 206,650,665 193,366,411
Value Fund 393,608,413 392,096,855 376,985,055
Short Term Income Fund 59,628,930 55,683,922 46,375,586
International Core Fund 4,188,783,731 4,193,238,725 3,815,811,255
Japan Fund 214,660,526 202,694,901 166,304,975
Tobacco Free Core Fund 87,623,840 89,995,948 85,692,325
Fundamental Value Fund 208,871,838 192,269,028 145,580,142
International Small Companies Fund 246,652,861 246,850,836 232,843,075
Small Cap Value Fund 776,094,041 785,372,289 744,062,592
Pelican Fund 225,634,353 224,298,234 221,036,091
US Sector Fund 157,153,294 166,787,571 156,136,960
International Bond Fund 293,939,612 301,441,172 295,582,351
Small Cap Growth Fund 404,873,916 425,124,094 399,554,844
Emerging Markets Fund 1,905,488,700 1,894,157,563 1,670,058,451
Emerging Country Debt Fund 536,778,521 548,075,782 559,433,768
Global Hedged Equity Fund 205,298,755 201,398,182 196,855,747
Domestic Bond Fund 445,615,860 441,594,192 436,095,288
Currency Hedged International Bond Fund 319,436,337 314,962,673 295,733,836
Inflation Indexed Bond Fund 18,305,033 20,438,685 22,675,210
Currency Hedged International Core Fund 634,810,864 639,654,251 583,871,139
Global Bond Fund 81,658,506 83,450,917 83,480,453
REIT Fund 396,939,514 412,503,716 400,394,061
Foreign Fund 1,033,857,438 1,052,727,576 1,001,915,707
International Equity Allocation Fund 83,070,784 84,053,655 78,841,052
World Equity Allocation Fund 50,705,595 50,583,970 52,985,065
Global (US+) Equity Allocation Fund 42,158,732 43,368,219 41,134,431
Global Balanced Allocation Fund 65,435,068 66,595,602 75,530,680
Global Properties Fund 10,192,511 10,599,335 10,232,455
US Bond/Global Alpha A Fund 204,194,619 217,948,945 227,952,245
US Bond/Global Alpha B Fund 372,216,767 376,601,127 373,517,941
Evolving Countries Fund 18,721,650 19,390,005 21,509,793
Asia Fund 0 0 0
Fund Name December January February
Core Fund $ 3,466,015,756 $ 3,351,525,361 $ 3,599,211,565
Growth Fund 191,348,017 191,821,095 200,513,094
Value Fund 341,323,900 328,202,860 326,858,785
Short Term Income Fund 44,351,571 38,485,569 37,595,740
International Core Fund 3,671,478,822 3,549,130,772 3,708,812,921
Japan Fund 146,382,934 146,026,772 152,237,858
Tobacco Free Core Fund 85,526,158 82,725,189 83,568,328
Fundamental Value Fund 127,376,474 119,419,580 124,180,139
International Small Companies Fund 219,562,164 213,055,558 226,261,328
Small Cap Value Fund 742,796,463 727,050,100 752,780,080
Pelican Fund 223,315,582 221,794,313 231,782,205
US Sector Fund 156,255,880 137,616,259 94,102,123
International Bond Fund 290,633,905 288,946,459 292,198,818
Small Cap Growth Fund 384,172,318 370,313,500 391,852,563
Emerging Markets Fund 1,518,112,302 1,433,139,628 1,538,082,322
Emerging Country Debt Fund 642,388,119 631,618,453 740,084,276
Global Hedged Equity Fund 191,879,717 177,644,278 172,412,362
Domestic Bond Fund 453,033,856 509,940,491 463,921,561
Currency Hedged International Bond Fund 314,224,261 327,536,297 315,809,731
Inflation Indexed Bond Fund 22,935,983 22,249,983 24,030,633
Currency Hedged International Core Fund 567,678,277 551,510,778 566,431,852
Global Bond Fund 90,284,960 102,940,348 104,800,572
REIT Fund 401,457,336 396,424,995 385,391,397
Foreign Fund 1,014,269,434 1,036,304,860 1,115,363,280
International Equity Allocation Fund 78,659,462 76,736,889 83,459,869
World Equity Allocation Fund 52,919,397 52,506,318 54,742,174
Global (US+) Equity Allocation Fund 40,760,517 36,557,254 43,770,680
Global Balanced Allocation Fund 102,115,892 103,532,258 110,855,841
Global Properties Fund 9,930,351 9,746,368 9,976,421
US Bond/Global Alpha A Fund 234,783,850 232,094,942 226,239,571
US Bond/Global Alpha B Fund 374,868,550 381,283,341 381,803,666
Evolving Countries Fund 24,574,752 24,360,357 34,633,995
Asia Fund 0 0 4,183,726
</TABLE>
<TABLE>
GMO Trust
FYE 2/28/98
Attachment Filed in Response to Form N-SAR Sub-Item 77P
Monthly Purchases, Redemptions, and Exchanges (000's omitted)
Exchanges Exchanges
March Purchases In Redemptions Out
Fund Name
<S> <C> <C> <C> <C>
Core Fund 6,479 7,877 4,870 8,328
Growth Fund 0 48,192
Value Fund (176) 222 30,114
Short Term Income Fund 564 384 2 501
International Core Fund 21,624 3,445 61,118 9,838
Japan Fund 3,788 7,928
Tobacco Free Core Fund 83 0
Fundamental Value Fund 0 0
International Small Companies Fund 1,015 14,234 453
Small Cap Value Fund 23,584 2,398 9,172 421
Pelican Fund 1,132 3,267
US Sector Fund 0 0
International Bond Fund 221 700 0 193
Small Cap Growth Fund (303) 2,314 0
Emerging Markets Fund 10,915 10,035 24,655 2,809
Emerging Country Debt Fund 12,826 132 47,854 9,720
Global Hedged Equity Fund 0 2,542
Domestic Bond Fund 836 257 1,038 28
Currency Hedged International Bond Fund 490 (92) 97
Inflation Indexed Bond Fund 0 0
Currency Hedged International Core Fund 378 3,965 6,626 9,118
Global Bond Fund 8,585 0
REIT Fund 37,905 4,722 1,395 1,823
Foreign Fund 183 66 183
International Equity Allocation Fund 0 4,295
World Equity Allocation Fund 0 6,089
Global (US+) Equity Allocation Fund 975 30 285
Global Balanced Allocation Fund 1,001 0
Global Properties Fund 0 0
US Bond/Global Alpha A Fund 0 0
US Bond/Global Alpha B Fund 0 0
Evolving Countries Fund 0 0
Asia Fund 0 0
Exchanges Exchanges
April Purchases In Redemptions Out
Fund Name
Core Fund 58,561 23 128,434 3,826
Growth Fund 0 8,829
Value Fund 1,073 13,277 1,170
Short Term Income Fund 9,038 6 126 9,763
International Core Fund 37,514 7,807 30,136 18,308
Japan Fund 1,940 152 691
Tobacco Free Core Fund 0 0
Fundamental Value Fund 0 0 7,000
International Small Companies Fund 525 763 815
Small Cap Value Fund 20,131 17,129 2,754 2,480
Pelican Fund 1,372 2,901
US Sector Fund 0 0
International Bond Fund 2,586 578 897 2,332
Small Cap Growth Fund 4,583 1,640 0
Emerging Markets Fund 16,827 26,148 1,728 13,024
Emerging Country Debt Fund (714) 3,316 (2,115) 18,303
Global Hedged Equity Fund 0 13,469
Domestic Bond Fund 46,491 4,506 (17,569) 17,913
Currency Hedged International Bond Fund 3,179 3,498 (20,778) 21,710
Inflation Indexed Bond Fund 2,233 857 0
Currency Hedged International Core Fund 1,558 8,459 3,324 8,000
Global Bond Fund 0 0
REIT Fund 27,869 2,558 2,822
Foreign Fund 7,798 610 352 58
International Equity Allocation Fund 1,000 3,000 0
World Equity Allocation Fund 5,430 0
Global (US+) Equity Allocation Fund 3,040 175
Global Balanced Allocation Fund 17,075 0
Global Properties Fund 167 67 0
US Bond/Global Alpha A Fund (45,809) 45,809 (3,019) 3,019
US Bond/Global Alpha B Fund 0 0
Evolving Countries Fund 0 0
Asia Fund 0 0
Exchanges Exchanges
May Purchases In Redemptions Out
Fund Name
Core Fund 4,513 8,031 3,616
Growth Fund 0 5,000 7
Value Fund 0 7,976 6,015
Short Term Income Fund 134 4,766 76
International Core Fund 36,252 64,649 21,027
Japan Fund 11,301 483 36
Tobacco Free Core Fund 0 0
Fundamental Value Fund 0 0
International Small Companies Fund 4,061 289 89
Small Cap Value Fund 677 4,528 9,289 65
Pelican Fund 1,533 3,653
US Sector Fund 0 15,000
International Bond Fund 418 1,087 2,206
Small Cap Growth Fund 5 3,411 0 29
Emerging Markets Fund 25,940 201 11,979 637
Emerging Country Debt Fund 399 25,241 904
Global Hedged Equity Fund 0 3,007 119
Domestic Bond Fund 2,785 18,138 7,347
Currency Hedged International Bond Fund 407 20,969 10,783
Inflation Indexed Bond Fund 607 2,637 0 64
Currency Hedged International Core Fund 167 14,621 15,315 883
Global Bond Fund 0 0
REIT Fund 6,222 (101) 179
Foreign Fund 1,513 4,672 69
International Equity Allocation Fund 11,000 1,522 0
World Equity Allocation Fund 0 0
Global (US+) Equity Allocation Fund 2,052 342
Global Balanced Allocation Fund 0 0
Global Properties Fund 5 0
US Bond/Global Alpha A Fund 75,578 17,352 (523) 523
US Bond/Global Alpha B Fund 0 0
Evolving Countries Fund 0 0
Asia Fund 0 0
Exchanges Exchanges
June Purchases In Redemptions Out
Fund Name
Core Fund 2,569 1,099 81,844 25,927
Growth Fund 125 103 6,231 376
Value Fund (491) 691 26,573 8,697
Short Term Income Fund (212) 1,221 6 2,321
International Core Fund 8,388 14,748 115,159 9,330
Japan Fund 0 569
Tobacco Free Core Fund 0 321
Fundamental Value Fund 0 14,000
International Small Companies Fund 465 214 6,312 727
Small Cap Value Fund 13,703 2,528 21,364 7,766
Pelican Fund 3,466 7,939
US Sector Fund 0 30,000
International Bond Fund 2,251 29,101 3,249 8,747
Small Cap Growth Fund 9,434 5,772 (739) 1,554
Emerging Markets Fund 3,536 11,611 46,853 3,131
Emerging Country Debt Fund 76,344 756 (7,766) 84,067
Global Hedged Equity Fund (561) 1,023 6,227 1,149
Domestic Bond Fund (1,646) 36,035 (632) 6,292
Currency Hedged International Bond Fund 17,082 19,453 21,799 9,371
Inflation Indexed Bond Fund 4,134 1,313 737
Currency Hedged International Core Fund 1,361 311 18,440 13,536
Global Bond Fund (1) 566 5,000
REIT Fund 489 26,745 9,809 1,775
Foreign Fund 84,290 10 11,827
International Equity Allocation Fund 960 5,375 0
World Equity Allocation Fund (13,372) 13,372 (13,372) 13,372
Global (US+) Equity Allocation Fund 245 915
Global Balanced Allocation Fund 3,337 14,395 (989) 1,023
Global Properties Fund 0 0
US Bond/Global Alpha A Fund 5,518 8,158 0
US Bond/Global Alpha B Fund 0 0
Evolving Countries Fund 0 0
Asia Fund 0 0
Exchanges Exchanges
July Purchases In Redemptions Out
Fund Name
Core Fund 3,973 8,547 134,942 26,747
Growth Fund 0 5,130
Value Fund 384 4,518 32,310
Short Term Income Fund 11,760 128 56
International Core Fund 138,418 8,973 176,300 20,709
Japan Fund 10,003 33,921
Tobacco Free Core Fund 1,500 0
Fundamental Value Fund 100 15,000
International Small Companies Fund 13,471 322 687 373
Small Cap Value Fund 383 21,300 2,246 72,682
Pelican Fund 1,931 2,241
US Sector Fund 100 29,841 13,555
International Bond Fund 19,629 1,159 7,487 385
Small Cap Growth Fund (1,276) 111,007 0
Emerging Markets Fund 9,584 6,246 17,671
Emerging Country Debt Fund 614 31,374 3,534
Global Hedged Equity Fund 0 33,153 5
Domestic Bond Fund 236 10,540 209,678 2,843
Currency Hedged International Bond Fund 294 6,355 119,456 4,240
Inflation Indexed Bond Fund 150 0
Currency Hedged International Core Fund 357 8,662 20,342
Global Bond Fund 248 1,313 0 11
REIT Fund (2,229) 4,009 14,013
Foreign Fund 111,762 4,730 (2,140) 2,209
International Equity Allocation Fund 0 2,398 0
World Equity Allocation Fund 0 0
Global (US+) Equity Allocation Fund 550 415
Global Balanced Allocation Fund 2,175 0
Global Properties Fund 0 0
US Bond/Global Alpha A Fund (3,990) 12,735 (10) 10
US Bond/Global Alpha B Fund 0 0
Evolving Countries Fund 0 0
Asia Fund 0 0
Exchanges Exchanges
August Purchases In Redemptions Out
Fund Name
Core Fund 225,359 26,009 43,887
Growth Fund 29 172 8,439
Value Fund 0 126 9,506 9,451
Short Term Income Fund 2,566 1,916 393 304
International Core Fund 79,478 2,716 10,062 151,169
Japan Fund 369 120 173
Tobacco Free Core Fund 4,871 0
Fundamental Value Fund 0 20,000
International Small Companies Fund 4,985 1,862 278 3,466
Small Cap Value Fund 0 19,536
Pelican Fund 892 (1,165) 6,505
US Sector Fund 2 14,429
International Bond Fund 4,996 15,486 351 1,527
Small Cap Growth Fund 25,867 2,986 6,420
Emerging Markets Fund 26,849 10,731 3,107 4,922
Emerging Country Debt Fund 807 75 (14,509) 19,568
Global Hedged Equity Fund 3 5,880 28,170
Domestic Bond Fund 5,586 14,458 4,465 4,170
Currency Hedged International Bond Fund 562 11,196 30,176
Inflation Indexed Bond Fund 1,269 5,692 0
Currency Hedged International Core Fund 208 68,004 425 13,107
Global Bond Fund 369 0
REIT Fund 37,422 8,401 8,863
Foreign Fund 2,488 47,097 10,078 112
International Equity Allocation Fund 3,350 8,953 0
World Equity Allocation Fund 0 0
Global (US+) Equity Allocation Fund 1,375 167 38
Global Balanced Allocation Fund 0 0
Global Properties Fund 0 0
US Bond/Global Alpha A Fund 25,770 49,146 3,264
US Bond/Global Alpha B Fund 344,765 27,898 0
Evolving Countries Fund 10,935 7,768 0
Asia Fund 0 0
Exchanges Exchanges
September Purchases In Redemptions Out
Fund Name
Core Fund 4,252 18,539 1,897
Growth Fund 0 99
Value Fund 0 1,722 1,500
Short Term Income Fund 2,765 222 5,350 2,117
International Core Fund 19,808 4,109 29,482 7,101
Japan Fund 0 2,000 375 1,159
Tobacco Free Core Fund 0 41
Fundamental Value Fund 0 18,000 83
International Small Companies Fund 59 777 2,627 378
Small Cap Value Fund (3,592) 6,594 0
Pelican Fund 3,091 10,842
US Sector Fund 1 4,976
International Bond Fund 22 50 (50) 50
Small Cap Growth Fund 20,515 10,570 (1,262) 4,262
Emerging Markets Fund 1,349 15,186 28,413 13,767
Emerging Country Debt Fund 11,599 91 2,529 116
Global Hedged Equity Fund (2,899) 2,900 1,593 2,900
Domestic Bond Fund 545 14 12,166 13,881
Currency Hedged International Bond Fund (7,688) 7,927 (4,783) 12,331
Inflation Indexed Bond Fund 34 0
Currency Hedged International Core Fund 331 2,353
Global Bond Fund 0 0
REIT Fund (4,870) 4,978 (4,762) 4,956
Foreign Fund 1,804 491 12,397 3,400
International Equity Allocation Fund 3,970 0
World Equity Allocation Fund 0 0
Global (US+) Equity Allocation Fund 981 21 297 16
Global Balanced Allocation Fund 17 36
Global Properties Fund 1 0
US Bond/Global Alpha A Fund 14,359 21,685 (7,510) 7,510
US Bond/Global Alpha B Fund 0 0
Evolving Countries Fund 426 2 0
Asia Fund 0 0
Exchanges Exchanges
October Purchases In Redemptions Out
Fund Name
Core Fund 9,408 7,936 36,608 57,033
Growth Fund 66 1,947 5,818
Value Fund 311 5,200 6,247 10,867
Short Term Income Fund 11 662 (1,492) 2,693
International Core Fund 8,949 6,472 80,980 107,491
Japan Fund 1,255 21,717 819
Tobacco Free Core Fund 0 20 680
Fundamental Value Fund 0 32,000
International Small Companies Fund 5,311 1,540 3,084 2,766
Small Cap Value Fund 7,559 100 11,608 15,883
Pelican Fund 962 1,545
US Sector Fund 271 13,670 1,012 12,579
International Bond Fund (11,503) 14,685 (10,307) 11,710
Small Cap Growth Fund 6,952 7,513 9,369 5,769
Emerging Markets Fund 39,492 138,077 28,165 9,614
Emerging Country Debt Fund (57,653) 58,015 (45,420) 57,733
Global Hedged Equity Fund (240) 240 1,343 479
Domestic Bond Fund (12,852) 13,501 (4,398) 15,021
Currency Hedged International Bond Fund (18,835) 19,031 (12,540) 25,099
Inflation Indexed Bond Fund 1,757 2,055 0
Currency Hedged International Core Fund 4,752 2,712 16,579 3,400
Global Bond Fund (1,002) 1,002 (1,002) 1,002
REIT Fund 3,104 4,069 13,021 10
Foreign Fund (346) 35,327 82 2,096
International Equity Allocation Fund 0 0
World Equity Allocation Fund 0 11,396 6,137
Global (US+) Equity Allocation Fund 0 262
Global Balanced Allocation Fund 2 85
Global Properties Fund 0 0
US Bond/Global Alpha A Fund (6,765) 21,816 (21,740) 21,795
US Bond/Global Alpha B Fund (7,500) 7,500 (7,500) 7,500
Evolving Countries Fund 1,684 3,541 0
Asia Fund 0 0
Exchanges Exchanges
November Purchases In Redemptions Out
Fund Name
Core Fund 48,431 25 106,700 502
Growth Fund 714 640
Value Fund 1,751 38,634
Short Term Income Fund (826) 3,800 10,000 2,505
International Core Fund 14,157 461 63,440 5,142
Japan Fund 0 9,191 1,801
Tobacco Free Core Fund 0 565 2,222
Fundamental Value Fund 0 33,524
International Small Companies Fund 815 6,173
Small Cap Value Fund 2,498 7,023
Pelican Fund 977 1,282
US Sector Fund 0 26
International Bond Fund 915 152 13,269
Small Cap Growth Fund 1,470 661
Emerging Markets Fund 18,852 43 10,929 72,139
Emerging Country Debt Fund 61,009 71,175 1,739 206
Global Hedged Equity Fund 0 363
Domestic Bond Fund 2,169 586 7,954 1
Currency Hedged International Bond Fund 785 197 19,715
Inflation Indexed Bond Fund 542 59 55
Currency Hedged International Core Fund 2,915 34 617 65
Global Bond Fund 0 1,002
REIT Fund 1,387 118 768
Foreign Fund 14,785 5,130 5,099
International Equity Allocation Fund 2,625 0
World Equity Allocation Fund 0 0
Global (US+) Equity Allocation Fund 0 202
Global Balanced Allocation Fund 33,510 3 104
Global Properties Fund 0 0
US Bond/Global Alpha A Fund 8,829 1,039 6,556 1,038
US Bond/Global Alpha B Fund 0 7,500
Evolving Countries Fund 3,311 0
Asia Fund 0 0
Exchanges Exchanges
December Purchases In Redemptions Out
Fund Name
Core Fund 22,814 2,911 232,868 8,269
Growth Fund 23 829 1,513
Value Fund 106 16,709
Short Term Income Fund 117 1,548 7,063 353
International Core Fund 20,946 4,036 167,869 16,726
Japan Fund 399 298 2
Tobacco Free Core Fund 0 45 3,582
Fundamental Value Fund 0 14,232 145
International Small Companies Fund 124 5,356 10
Small Cap Value Fund 309 5,131 14,449 265
Pelican Fund 1,716 2,944
US Sector Fund 0 0
International Bond Fund 416 18,874 4,404 10,640
Small Cap Growth Fund 833 5,131 10,445 223
Emerging Markets Fund 54,069 2,209 48,959 1,461
Emerging Country Debt Fund 11,074 659 13,866 1,275
Global Hedged Equity Fund 5 9,443 5
Domestic Bond Fund 100,317 14,849 17,798
Currency Hedged International Bond Fund 80,525 37 39,108 10,872
Inflation Indexed Bond Fund 31 152 0 155
Currency Hedged International Core Fund 749 1,118 56,763
Global Bond Fund 0 18,820 0
REIT Fund 296 2,388 11,188 3,478
Foreign Fund 17,331 14,379 79
International Equity Allocation Fund 204 216 1,000
World Equity Allocation Fund 482 0
Global (US+) Equity Allocation Fund 0 395
Global Balanced Allocation Fund 4,745 134
Global Properties Fund 3 0
US Bond/Global Alpha A Fund 1,761 618 1,273 1,436
US Bond/Global Alpha B Fund 0 0
Evolving Countries Fund 2,647 464 0
Asia Fund 0 0
Exchanges Exchanges
January Purchases In Redemptions Out
Fund Name
Core Fund 1,163,684 25,365 1,191,155
Growth Fund 74 (3,609) 4,630
Value Fund 1,403 11,440 1,031
Short Term Income Fund 65 62 3,324 83
International Core Fund 726,235 777 775,503 27,572
Japan Fund 1,230 30 6,757 30
Tobacco Free Core Fund 259 5,627
Fundamental Value Fund 0 0
International Small Companies Fund 39 1,953 135
Small Cap Value Fund 2,590 16,501 2,948
Pelican Fund 2,732 2,156
US Sector Fund 1,657 62,546 2,239
International Bond Fund 408 502
Small Cap Growth Fund 240 9,418
Emerging Markets Fund 645,437 1,000 647,749 2,856
Emerging Country Debt Fund 211,397 299 210,892 1,625
Global Hedged Equity Fund 125 5,154 2,478
Domestic Bond Fund 3,297 9,115 6,076
Currency Hedged International Bond Fund 4,622 5 3,936 5,574
Inflation Indexed Bond Fund 37 400
Currency Hedged International Core Fund 339,237 345,348
Global Bond Fund 9,933 6,829
REIT Fund 3,490 2,704 7,166
Foreign Fund 197,105 21,733 194,931
International Equity Allocation Fund 19,503 21,464
World Equity Allocation Fund 9,243 9,242
Global (US+) Equity Allocation Fund (3,383) 4,615 1,423
Global Balanced Allocation Fund 87,089 5 86,816
Global Properties Fund 0 0
US Bond/Global Alpha A Fund 3,444 668 17,038
US Bond/Global Alpha B Fund 2 0
Evolving Countries Fund 2,346 476
Asia Fund 0 0
February Exchanges Exchanges
Fund Name Purchases In Redemptions Out
Core Fund 95,740 139 34,835 15,222
Growth Fund (458) 458 8,508 1,801
Value Fund 0 6,152 5,696
Short Term Income Fund 0 20 4 449
International Core Fund 18,953 4,368 92,033 28,080
Japan Fund 0 2,078 34
Tobacco Free Core Fund 16,259 2,373
Fundamental Value Fund 0 0
International Small Companies Fund (147) 1,682 465 508
Small Cap Value Fund (2,452) 12,977 (2,309) 23,092
Pelican Fund 1,208 2,529
US Sector Fund (408) 408 25,597 815
International Bond Fund 435 2,061 5 456
Small Cap Growth Fund (1,123) 1,634 690 4,685
Emerging Markets Fund (9,735) 76,696 (12,477) 44,299
Emerging Country Debt Fund 106,465 4,859 (926) 4,896
Global Hedged Equity Fund 0 2,663 377
Domestic Bond Fund 493 72,898 78
Currency Hedged International Bond Fund 10,029 845 3,577 13,171
Inflation Indexed Bond Fund 2,859 599 0
Currency Hedged International Core Fund (32) 32 16,399 4,550
Global Bond Fund 0 0
REIT Fund (4,005) 4,631 2,614 7,518
Foreign Fund 1,322 11,269 32,379 3,991
International Equity Allocation Fund 0 0
World Equity Allocation Fund 0 5,690
Global (US+) Equity Allocation Fund 5,794 166
Global Balanced Allocation Fund 2,432 4,817 (48) 204
Global Properties Fund 0 0
US Bond/Global Alpha A Fund 2,331 5,330 0 44
US Bond/Global Alpha B Fund 0 0
Evolving Countries Fund 2,078 7,391 0
Asia Fund (25,735) 25,735 0
</TABLE>
<TABLE>
GMO Trust
FYE 2/28/98
Attachment Filed in Response to Form N-SAR Sub-Item 77P
Annual Expense Ratios
Fund Name Class 1 Class 2 Class 3
<S> <C> <C> <C>
Core Fund 0.48%
Growth Fund 0.48%
Value Fund 0.61%
Short Term Income Fund 0.20%
International Core Fund 0.69%
Japan Fund 0.69%
Tobacco Free Core Fund 0.48%
Fundamental Value Fund 0.75%
International Small Companies Fund 0.75%
Small Cap Value Fund 0.48%
Pelican Fund 0.95%
US Sector Fund 0.27%
International Bond Fund 0.40%
Small Cap Growth Fund 0.48%
Emerging Markets Fund 1.24%
Emerging Country Debt Fund 0.53%
Global Hedged Equity Fund 0.58%
Domestic Bond Fund 0.25%
Currency Hedged International Bond Fund 0.40%
Inflation Indexed Bond Fund 0.25%
Currency Hedged International Core Fund 0.69%
Global Bond Fund 0.34%
REIT Fund 0.69%
Foreign Fund 0.75%
International Equity Allocation Fund 0.13% 0.07% 0.00%
World Equity Allocation Fund 0.13% 0.12% 0.00%
Global (US+) Equity Allocation Fund 0.13% 0.00%
Global Balanced Allocation Fund 0.13% 0.07% 0.00%
Global Properties Fund 1.43%
US Bond/Global Alpha A Fund 0.40%
US Bond/Global Alpha B Fund 0.35%
Evolving Countries Fund 1.65%
Asia Fund 2.52%
</TABLE>
GMO Trust
FYE 2/28/98
Attachment Filed in Response to Form N-SAR Sub-Item 77P
GMO Fund of Fund Allocation %
March, 1997
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund
Currency Hedged International Bond Fund
Currency Hedged International Core Fund
Domestic Bond Fund
Emerging Country Debt Fund 671,295.00 1.6
Emerging Markets Fund 8,158,125.00 19.8
Growth Fund
International Bond Fund 1,197,175.00 2.9
International Core Fund 29,533,942.00 71.8
International Small Companies Fund 1,571,346.00 3.8
REIT Fund
Small Cap Growth Fund
Small Cap Value Fund
Value Fund
Total Market Value 41,131,883.00 100.0
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
March, 1997
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 3,633,927.00 9.
Currency Hedged International Bond Fund 708,810.00 1.
Currency Hedged International Core Fund 2,879,952.00 7.
Domestic Bond Fund
Emerging Country Debt Fund 737,873.00 1.
Emerging Markets Fund 6,332,958.00 16.
Growth Fund 222,450.00 0.
International Bond Fund 1,113,273.00 2.
International Core Fund 16,344,179.00 41.
International Small Companies Fund 1,219,884.00 3.
REIT Fund 2,248,085.00 5.
Small Cap Growth Fund 925,559.00 2.
Small Cap Value Fund 1,510,784.00 3.
Value Fund 1,384,163.00 3.
Total Market Value 39,261,897.00 100.
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
April, 1997
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund
Currency Hedged International Bond Fund
Currency Hedged International Core Fund
Domestic Bond Fund
Emerging Country Debt Fund 748,319.00 1.6
Emerging Markets Fund 8,978,218.00 19.9
Growth Fund
Inflation Indexed Bond Fund
International Bond Fund 1,327,866.00 2.9
International Core Fund 32,191,886.00 71.5
International Small Companies Fund 1,731,494.00 3.8
REIT Fund
Small Cap Growth Fund
Small Cap Value Fund
Value Fund
Total Market Value 44,977,783.00 100.0
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
April, 1997
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 5,921,789.00 13.
Currency Hedged International Bond Fund 781,259.00 1.
Currency Hedged International Core Fund 3,263,462.00 7.
Domestic Bond Fund
Emerging Country Debt Fund 865,691.00 1.
Emerging Markets Fund 7,241,608.00 16.
Growth Fund 235,753.00 0.
Inflation Indexed Bond Fund
International Bond Fund 1,343,722.00 2.
International Core Fund 18,121,721.00 40.
International Small Companies Fund 1,211,721.00 2.
REIT Fund 2,201,970.00 4.
Small Cap Growth Fund 939,162.00 2.
Small Cap Value Fund 1,539,256.00 3.
Value Fund 1,415,391.00 3.
Total Market Value 45,082,505.00 100.
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
May, 1997
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund
Currency Hedged International Core Fund
Domestic Bond Fund
Emerging Country Debt Fund 768,752.00 1.2
Emerging Markets Fund 12,075,856.00 20.3
Growth Fund
Inflation Indexed Bond Fund 460,344.00 0.7
International Bond Fund 1,071,101.00 1.8
International Core Fund 42,300,260.00 71.2
International Small Companies Fund 2,260,357.00 3.8
REIT Fund
Small Cap Growth Fund
Small Cap Value Fund
US Bond/Global Alpha A 459,706.00 0.7
Value Fund
Total Market Value 59,396,376.00 100.0
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
May, 1997
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 6,293,180.00 13.
Currency Hedged International Core Fund 3,363,442.00 7.
Domestic Bond Fund
Emerging Country Debt Fund 606,943.00 1.
Emerging Markets Fund 7,454,945.00 15.
Growth Fund 252,949.00 0.
Inflation Indexed Bond Fund 626,853.00 1.
International Bond Fund 780,745.00 1.
International Core Fund 19,048,529.00 40.
International Small Companies Fund 1,277,930.00 2.
REIT Fund 2,266,365.00 4.
Small Cap Growth Fund 1,040,168.00 2.
Small Cap Value Fund 1,668,106.00 3.
US Bond/Global Alpha A 1,067,409.00 2.
Value Fund 1,503,430.00 3.
Total Market Value 47,250,994.00 100.
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
June, 1997
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund
Currency Hedged International Core Fund
Domestic Bond Fund
Emerging Country Debt Fund 874,019.00 1.2
Emerging Markets Fund 14,104,329.00 20.6
Growth Fund
Inflation Indexed Bond Fund 501,809.00 0.7
International Bond Fund 1,218,685.00 1.7
International Core Fund 48,638,968.00 71.0
International Small Companies Fund 2,572,687.00 3.7
REIT Fund
Small Cap Growth Fund
Small Cap Value Fund
US Bond/Global Alpha A 510,903.00 0.7
Value Fund
Total Market Value 68,421,400.00 100.0
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
June, 1997
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 6,524,203.00 13.
Currency Hedged International Core Fund 3,496,750.00 7.
Domestic Bond Fund
Emerging Country Debt Fund 638,164.00 1.
Emerging Markets Fund 8,029,770.00 16.
Growth Fund 260,189.00 0.
Inflation Indexed Bond Fund 624,994.00 1.
International Bond Fund 790,091.00 1.
International Core Fund 19,704,076.00 40.
International Small Companies Fund 1,312,395.00 2.
REIT Fund 2,380,846.00 4.
Small Cap Growth Fund 1,091,642.00 2.
Small Cap Value Fund 1,744,424.00 3.
US Bond/Global Alpha A 1,085,411.00 2.
Value Fund 1,567,282.00 3.
Total Market Value 49,250,237.00 100.
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
July, 1997
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund
Currency Hedged International Core Fund
Domestic Bond Fund
Emerging Country Debt Fund 952,971.00 1.3
Emerging Markets Fund 15,085,010.00 20.7
Growth Fund
Inflation Indexed Bond Fund 558,095.00 0.7
International Bond Fund 1,293,160.00 1.7
International Core Fund 51,623,077.00 70.8
International Small Companies Fund 2,757,324.00 3.7
REIT Fund
Small Cap Growth Fund
Small Cap Value Fund
US Bond/Global Alpha A 548,395.00 0.7
Value Fund
Total Market Value 72,818,032.00 100.0
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
July, 1997
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 6,643,365.00 12.
Currency Hedged International Core Fund 3,677,393.00 7.
Domestic Bond Fund
Emerging Country Debt Fund 695,812.00 1.
Emerging Markets Fund 8,588,267.00 16.
Growth Fund 288,297.00 0.
Inflation Indexed Bond Fund 629,950.00 1.
International Bond Fund 786,872.00 1.
International Core Fund 20,071,089.00 39.
International Small Companies Fund 1,319,651.00 2.
REIT Fund 2,453,775.00 4.
Small Cap Growth Fund 1,879,745.00 3.
Small Cap Value Fund 1,857,058.00 3.
US Bond/Global Alpha A 1,133,063.00 2.
Value Fund 1,392,601.00 2.
Total Market Value 51,416,938.00 100.
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
August, 1997
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund
Currency Hedged International Core Fund
Domestic Bond Fund
Emerging Country Debt Fund 1,056,099.00 1.3
Emerging Markets Fund 14,838,841.00 18.3
Evolving Countries Fund 920,040.00 1.1
Growth Fund
Inflation Indexed Bond Fund 631,768.00 0.7
International Bond Fund 1,493,553.00 1.8
International Core Fund 58,186,308.00 72.1
International Small Companies Fund 2,930,383.00 3.6
REIT Fund
Small Cap Growth Fund
Small Cap Value Fund
US Bond/Global Alpha A 633,131.00 0.7
Value Fund
Total Market Value 80,690,123.00 100.0
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
August, 1997
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 6,433,364.00 13.
Currency Hedged International Core Fund 3,472,632.00 7.
Domestic Bond Fund
Emerging Country Debt Fund 700,538.00 1.
Emerging Markets Fund 7,868,546.00 16.
Evolving Countries Fund
Growth Fund 280,952.00 0.
Inflation Indexed Bond Fund 633,047.00 1.
International Bond Fund 790,502.00 1.
International Core Fund 18,954,736.00 38.
International Small Companies Fund 1,269,768.00 2.
REIT Fund 2,424,736.00 4.
Small Cap Growth Fund 1,924,390.00 3.
Small Cap Value Fund 1,883,897.00 3.
US Bond/Global Alpha A 1,118,238.00 2.
Value Fund 1,363,771.00 2.
Total Market Value 49,119,117.00 100.
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
September, 1997
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund 0.0
Currency Hedged International Core Fund 0.0
Domestic Bond Fund 0.0
Emerging Country Debt Fund 1,109,144.00 1.3
Emerging Markets Fund 15,523,185.00 18.1
Evolving Countries Fund 925,560.00 1.0
Growth Fund 0.0
Inflation Indexed Bond Fund 633,624.00 0.7
International Bond Fund 1,547,041.00 1.8
International Core Fund 61,922,604.00 72.5
International Small Companies Fund 3,030,852.00 3.5
REIT Fund 0.0
Small Cap Growth Fund 0.0
Small Cap Value Fund 0.0
US Bond/Global Alpha A 646,326.00 0.7
Value Fund 0.0
Total Market Value 85,338,336.00 100.0
<PAGE>
GMO Fund of Fund Allocation %
September, 1997
</TABLE>
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 6,840,032.00 13.
Currency Hedged International Core Fund 3,693,995.00 7.
Domestic Bond Fund
Emerging Country Debt Fund 735,722.00 1.
Emerging Markets Fund 8,231,430.00 15.
Evolving Countries Fund
Growth Fund 295,030.00 0.
Inflation Indexed Bond Fund 634,905.00 1.
International Bond Fund 818,812.00 1.
International Core Fund 20,182,219.00 38.
International Small Companies Fund 1,313,302.00 2.
REIT Fund 2,655,231.00 5.
Small Cap Growth Fund 2,066,025.00 3.
Small Cap Value Fund 1,998,479.00 3.
US Bond/Global Alpha A 1,141,535.00 2.
Value Fund 1,434,537.00 2.
Total Market Value 52,041,254.00 100.
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
October, 1997
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund
Currency Hedged International Core Fund
Domestic Bond Fund
Emerging Country Debt Fund 973,765.00 1.2
Emerging Markets Fund 14,759,435.00 18.8
Evolving Countries Fund 789,073.00 1.0
Growth Fund
Inflation Indexed Bond Fund 640,423.00 0.8
International Bond Fund 1,581,276.00 2.0
International Core Fund 55,966,421.00 71.5
International Small Companies Fund 2,826,850.00 3.6
REIT Fund
Small Cap Growth Fund
Small Cap Value Fund
US Bond/Global Alpha A 661,364.00 0.8
Value Fund
Total Market Value 78,198,607.00 100.0
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
October, 1997
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 7,015,657.00 13.
Currency Hedged International Core Fund 2,745,188.00 5.
Domestic Bond Fund
Emerging Country Debt Fund 640,591.00 1.
Emerging Markets Fund 7,021,509.00 13.
Evolving Countries Fund 1,390,274.00 2.
Growth Fund 310,697.00 0.
Inflation Indexed Bond Fund 815,721.00 1.
International Bond Fund 970,663.00 1.
International Core Fund 20,903,929.00 39.
International Small Companies Fund 1,382,737.00 2.
REIT Fund 2,796,792.00 5.
Small Cap Growth Fund 2,096,587.00 3.
Small Cap Value Fund 2,108,307.00 3.
US Bond/Global Alpha A 1,464,407.00 2.
Value Fund 1,484,000.00 2.
Total Market Value 53,147,059.00 100.
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
November, 1997
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund
Currency Hedged International Bond Fund
Currency Hedged International Core Fund
Domestic Bond Fund
Emerging Country Debt Fund 2,854,029.00 3.6
Emerging Markets Fund 13,589,415.00 17.1
Evolving Countries Fund 1,690,091.00 2.1
Growth Fund
Inflation Indexed Bond Fund 642,895.00 0.8
International Bond Fund 1,251,701.00 1.5
International Core Fund 55,712,480.00 70.4
International Small Companies Fund 2,981,878.00 3.7
REIT Fund
Small Cap Growth Fund
Small Cap Value Fund
US Bond/Global Alpha A 358,886.00 0.4
Value Fund
Total Market Value 79,081,375.00 100.0
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
November, 1997
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 7,290,570.00 13.
Currency Hedged International Bond Fund
Currency Hedged International Core Fund 2,768,053.00 5.
Domestic Bond Fund
Emerging Country Debt Fund 2,364,593.00 4.
Emerging Markets Fund 5,767,645.00 10.
Evolving Countries Fund 1,314,140.00 2.
Growth Fund 319,613.00 0.
Inflation Indexed Bond Fund 818,871.00 1.
International Bond Fund 526,276.00 1.
International Core Fund 20,705,828.00 39.
International Small Companies Fund 1,336,613.00 2.
REIT Fund 2,834,293.00 5.
Small Cap Growth Fund 2,068,478.00 3.
Small Cap Value Fund 2,139,160.00 4.
US Bond/Global Alpha A 1,035,405.00 1.
Value Fund 1,541,512.00 2.
Total Market Value 52,831,050.00 100.
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
December, 1997
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund
Currency Hedged International Bond Fund
Currency Hedged International Core Fund
Domestic Bond Fund
Emerging Country Debt Fund 2,814,544.00 3.6
Emerging Markets Fund 13,564,284.00 17.3
Evolving Countries Fund 1,964,474.00 2.5
Growth Fund
Inflation Indexed Bond Fund 638,939.00 0.8
International Bond Fund 946,220.00 1.2
International Core Fund 54,777,485.00 70.2
International Small Companies Fund 2,921,550.00 3.7
REIT Fund
Small Cap Growth Fund
Small Cap Value Fund
US Bond/Global Alpha A 362,322.00 0.4
Value Fund
Total Market Value 77,989,818.00 100.0
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
December, 1997
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 7,409,283.00 13.
Currency Hedged International Bond Fund
Currency Hedged International Core Fund 2,652,542.00 4.
Domestic Bond Fund
Emerging Country Debt Fund 2,499,817.00 4.
Emerging Markets Fund 5,756,979.00 10.
Evolving Countries Fund 1,814,748.00 3.
Growth Fund 319,804.00 0.
Inflation Indexed Bond Fund 813,831.00 1.
International Bond Fund 521,598.00 0.
International Core Fund 20,473,726.00 38.
International Small Companies Fund 1,309,571.00 2.
REIT Fund 2,920,765.00 5.
Small Cap Growth Fund 2,052,149.00 3.
Small Cap Value Fund 2,178,647.00 4.
US Bond/Global Alpha A 1,046,283.00 1.
Value Fund 1,566,199.00 2.
Total Market Value 53,335,942.00 100.
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
January, 1998
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund
Currency Hedged International Bond Fund
Currency Hedged International Core Fund
Domestic Bond Fund
Emerging Country Debt Fund 2,797,276.00 3.4
Emerging Markets Fund 12,767,222.00 15.8
Evolving Countries Fund 3,489,325.00 4.3
Growth Fund
Inflation Indexed Bond Fund 642,772.00 0.8
International Bond Fund 1,256,540.00 1.5
International Core Fund 56,043,571.00 69.5
International Small Companies Fund 3,011,119.00 3.7
REIT Fund
Small Cap Growth Fund
Small Cap Value Fund
US Bond/Global Alpha A 521,686.00 0.6
Value Fund
Total Market Value 80,529,511.00 100.0
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
January, 1998
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 7,449,376.00 13.
Currency Hedged International Bond Fund
Currency Hedged International Core Fund 2,766,604.00 5.
Domestic Bond Fund
Emerging Country Debt Fund 2,484,481.00 4.
Emerging Markets Fund 5,418,688.00 10.
Evolving Countries Fund 1,763,408.00 3.
Growth Fund 327,941.00 0.
Inflation Indexed Bond Fund 818,714.00 1.
International Bond Fund 523,622.00 0.
International Core Fund 20,946,940.00 39.
International Small Companies Fund 1,349,720.00 2.
REIT Fund 2,864,304.00 5.
Small Cap Growth Fund 2,034,164.00 3.
Small Cap Value Fund 2,165,936.00 4.
US Bond/Global Alpha A 1,059,139.00 1.
Value Fund 1,556,918.00 2.
Total Market Value 53,529,955.00 100.
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
February, 1998
<TABLE>
International Equity Alloc
Name of Fund Owned Market Value % of Total M
<S> <C> <C>
Core Fund
Currency Hedged International Bond Fund
Currency Hedged International Core Fund
Domestic Bond Fund
Emerging Country Debt Fund 2,876,212.00 3.3
Emerging Markets Fund 13,606,983.00 15.8
Evolving Countries Fund 4,528,979.00 5.2
Growth Fund
Inflation Indexed Bond Fund 641,494.00 0.7
International Bond Fund 1,263,676.00 1.4
International Core Fund 59,221,082.00 68.9
International Small Companies Fund 3,219,237.00 3.7
REIT Fund
Small Cap Growth Fund
Small Cap Value Fund
US Bond/Global Alpha A 516,328.00 0.6
Value Fund
Total Market Value 85,873,991.00 100.0
</TABLE>
<PAGE>
GMO Fund of Fund Allocation %
February, 1998
<TABLE>
World Equity Alloc
Name of Fund Owned Market Value % of Total
<S> <C> <C>
Core Fund 7,111,593.00 13.
Currency Hedged International Bond Fund
Currency Hedged International Core Fund 2,107,014.00 4.
Domestic Bond Fund
Emerging Country Debt Fund 2,047,248.00 4.
Emerging Markets Fund 5,775,101.00 11.
Evolving Countries Fund 2,605,963.00 5.
Growth Fund 280,381.00 0.
Inflation Indexed Bond Fund 817,086.00 1.
International Bond Fund 528,681.00 1.
International Core Fund 19,051,969.00 37.
International Small Companies Fund 1,443,008.00 2.
REIT Fund 2,555,197.00 5.
Small Cap Growth Fund 2,054,613.00 4.
Small Cap Value Fund 2,068,393.00 4.
US Bond/Global Alpha A 1,048,261.00 2.
Value Fund 1,458,506.00 2.
Total Market Value 50,953,014.00 100.
</TABLE>
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
8,744,425.00 28.48%
1,564,590.00 5.10%
2,327,941.00 7.58%
3% 837,753.00 2.73%
3% 2,783,268.00 9.07%
344,175.00 1.12%
1% 410,040.00 1.34%
0% 4,710,583.00 15.34%
2% 398,392.00 1.30%
2,788,509.00 9.08%
1,247,067.00 4.06%
2,357,681.00 7.68%
2,187,122.00 7.12%
0% 30,701,546.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
26% 2,797,393.00 12.86%
81% 1,963,633.00 9.02%
34% 1,944,291.00 8.94%
6,496,846.00 29.86%
88% 622,055.00 2.86%
13% 1,502,736.00 6.91%
57% 131,882.00 0.61%
84% 520,353.00 2.39%
63% 1,546,896.00 7.11%
11% 211,504.00 0.97%
73% 1,362,540.00 6.26%
36% 582,059.00 2.68%
85% 1,081,355.00 4.97%
53% 994,860.00 4.57%
00% 21,758,403.00 100.00%
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
10,628,910.00 31.03%
1,720,558.00 5.02%
2,509,386.00 7.33%
6% 866,416.00 2.53%
6% 3,083,109.00 9.00%
364,758.00 1.06%
5% 522,633.00 1.53%
7% 4,966,731.00 14.50%
5% 435,685.00 1.27%
2,969,571.00 8.67%
1,438,666.00 4.20%
2,606,837.00 7.61%
2,138,795.00 6.24%
0% 34,252,055.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
14% 6,864,884.00 17.45%
73% 1,985,746.00 5.05%
24% 3,041,502.00 7.73%
13,131,126.00 33.37%
92% 643,713.00 1.64%
06% 2,669,897.00 6.79%
52% 139,769.00 0.36%
674,387.00 1.71%
98% 620,284.00 1.58%
20% 3,234,836.00 8.22%
69% 352,588.00 0.90%
88% 2,396,649.00 6.09%
08% 898,208.00 2.28%
41% 1,663,551.00 4.23%
14% 1,030,777.00 2.62%
00% 39,347,917.00 100.00%
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
12,256,060.00 32.43%
2,637,510.00 6.98%
9% 632,970.00 1.67%
3% 3,396,583.00 8.99%
391,362.00 1.04%
8% 725,189.00 1.92%
0% 625,636.00 1.66%
2% 5,583,559.00 14.77%
1% 484,689.00 1.28%
3,056,415.00 8.09%
1,593,394.00 4.22%
2,825,053.00 7.47%
7% 1,412,999.00 3.74%
2,175,164.00 5.75%
0% 37,796,583.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
32% 7,295,422.00 17.90%
12% 3,134,683.00 7.69%
6,919,345.00 16.98%
28% 681,578.00 1.67%
78% 2,748,552.00 6.74%
54% 149,963.00 0.37%
33% 678,409.00 1.66%
65% 642,162.00 1.58%
31% 3,400,276.00 8.34%
70% 371,854.00 0.91%
80% 2,466,737.00 6.05%
20% 994,809.00 2.44%
53% 1,802,806.00 4.42%
26% 8,374,392.00 20.55%
18% 1,094,892.00 2.69%
00% 40,755,880.00 100.00%
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
12,569,572.00 32.50%
2,629,128.00 6.80%
8% 665,530.00 1.72%
1% 3,719,428.00 9.62%
402,564.00 1.04%
3% 723,039.00 1.87%
8% 633,125.00 1.64%
9% 5,656,559.00 14.63%
6% 497,760.00 1.29%
3,210,804.00 8.30%
1,672,245.00 4.32%
2,954,303.00 7.64%
5% 1,436,829.00 3.72%
1,905,263.00 4.93%
0% 38,676,149.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
25% 9,366,879.00 15.56%
10% 4,540,933.00 7.54%
10,685,335.00 17.75%
30% 973,191.00 1.62%
30% 4,222,829.00 7.01%
53% 388,276.00 0.64%
27% 1,012,034.00 1.68%
60% 965,975.00 1.60%
01% 4,998,661.00 8.30%
66% 562,172.00 0.93%
83% 3,762,423.00 6.25%
22% 2,027,232.00 3.37%
54% 2,574,437.00 4.28%
20% 12,565,558.00 20.87%
18% 1,560,467.00 2.59%
00% 60,206,402.00 100.00%
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
13,304,839.00 32.72%
2,858,513.00 7.03%
1% 725,649.00 1.78%
2% 3,758,913.00 9.25%
446,053.00 1.10%
7% 728,772.00 1.79%
8% 692,762.00 1.70%
9% 5,957,859.00 14.65%
9% 500,512.00 1.23%
3,309,155.00 8.14%
2,527,980.00 6.22%
2,480,011.00 6.10%
5% 1,499,909.00 3.69%
1,867,392.00 4.59%
0% 40,658,319.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
92% 10,335,099.00 15.80%
15% 4,940,878.00 7.55%
11,578,894.00 17.70%
35% 1,061,102.00 1.62%
70% 4,516,540.00 6.90%
56% 430,222.00 0.66%
23% 1,118,736.00 1.71%
53% 1,013,628.00 1.55%
04% 5,336,957.00 8.16%
57% 565,280.00 0.86%
77% 3,877,671.00 5.93%
66% 2,621,964.00 4.01%
61% 2,740,663.00 4.19%
20% 13,602,208.00 20.79%
71% 1,683,193.00 2.57%
00% 65,423,035.00 100.00%
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
12,938,262.00 31.90%
2,847,129.00 7.02%
1% 703,832.00 1.74%
9% 3,480,549.00 8.58%
4%
434,689.00 1.07%
8% 778,613.00 1.92%
5% 765,711.00 1.89%
1% 6,085,322.00 15.00%
3% 523,180.00 1.29%
3,224,903.00 7.95%
2,732,435.00 6.74%
2,695,503.00 6.65%
8% 1,517,079.00 3.74%
1,828,732.00 4.51%
0% 40,555,939.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
10% 10,008,400.00 15.67%
07% 4,665,765.00 7.31%
11,467,666.00 17.96%
43% 1,068,309.00 1.67%
02% 4,138,041.00 6.48%
57% 419,261.00 0.66%
29% 1,124,236.00 1.76%
61% 1,018,303.00 1.59%
59% 5,040,116.00 7.89%
59% 543,912.00 0.85%
94% 3,831,782.00 6.00%
92% 2,684,238.00 4.20%
84% 2,780,272.00 4.35%
28% 13,424,235.00 21.02%
78% 1,648,347.00 2.58%
00% 63,862,883.00 100.00%
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
0% 13,878,709.00 31.76%
0% 3,010,488.00 6.89%
0%
0% 739,181.00 1.69%
9% 3,641,067.00 8.33%
8% 400,942.00 0.92%
0% 456,471.00 1.04%
4% 813,801.00 1.86%
1% 793,134.00 1.81%
6% 6,679,751.00 15.29%
5% 541,118.00 1.24%
0% 3,438,555.00 7.87%
0% 2,933,543.00 6.71%
0% 2,859,449.00 6.54%
6% 1,590,661.00 3.64%
0% 1,923,625.00 4.40%
0% 43,700,495.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
14% 10,641,056.00 15.96%
10% 4,979,294.00 7.47%
11,612,263.00 17.42%
41% 1,121,965.00 1.68%
82% 4,328,881.00 6.49%
57% 440,269.00 0.66%
22% 1,127,536.00 1.69%
57% 1,054,771.00 1.58%
78% 5,372,549.00 8.06%
52% 562,560.00 0.84%
10% 4,159,762.00 6.24%
97% 2,881,798.00 4.32%
84% 2,949,374.00 4.42%
19% 13,703,907.00 20.55%
76% 1,733,879.00 2.60%
00% 66,669,864.00 100.00%
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
13,073,621.00 31.88%
2,747,953.00 6.70%
5% 648,960.00 1.58%
7% 3,443,819.00 8.40%
1% 334,783.00 0.82%
426,293.00 1.04%
2% 822,535.00 2.01%
2% 810,712.00 1.98%
7% 6,171,109.00 15.05%
1% 513,100.00 1.25%
3,255,432.00 7.94%
2,623,268.00 6.40%
2,673,696.00 6.52%
5% 1,627,550.00 3.97%
1,837,114.00 4.48%
0% 41,009,945.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
20% 9,751,264.00 15.10%
17% 4,515,245.00 6.99%
11,830,482.00 18.32%
21% 985,023.00 1.53%
21% 4,395,901.00 6.81%
62%
58% 406,028.00 0.63%
53% 1,139,637.00 1.76%
83% 1,078,148.00 1.67%
33% 4,891,481.00 7.57%
60% 530,008.00 0.82%
26% 3,965,220.00 6.14%
94% 2,670,291.00 4.14%
97% 2,760,222.00 4.27%
76% 14,021,714.00 21.71%
79% 1,634,859.00 2.53%
00% 64,575,523.00 100.00%
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
13,583,545.00 32.97%
2,770,549.00 6.73%
1% 1,828,562.00 4.44%
8% 2,604,274.00 6.32%
4% 316,450.00 0.77%
340,090.00 0.83%
1% 770,496.00 1.87%
8% 542,647.00 1.32%
5% 6,112,627.00 14.84%
7% 495,984.00 1.20%
3,299,083.00 8.01%
2,588,098.00 6.28%
2,712,823.00 6.59%
5% 1,331,580.00 3.23%
1,899,995.00 4.61%
0% 41,196,803.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
80% 15,130,627.00 15.37%
543,272.00 0.55%
24% 7,532,444.00 7.65%
13,753,548.00 13.97%
48% 4,153,649.00 4.22%
92% 3,681,088.00 3.74%
49% 2,318,378.00 2.36%
60% 632,775.00 0.64%
55% 1,681,737.00 1.71%
00% 1,625,609.00 1.65%
19% 7,759,608.00 7.88%
53% 934,183.00 0.95%
36% 5,299,082.00 5.38%
92% 4,088,950.00 4.15%
05% 4,151,527.00 4.22%
96% 22,686,215.00 23.05%
92% 2,456,838.00 2.50%
00% 98,429,530.00 100.00%
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
11,599,693.00 31.29%
2,354,289.00 6.35%
1% 1,610,300.00 4.34%
9% 2,599,457.00 7.01%
2% 324,022.00 0.87%
340,293.00 0.92%
2% 765,754.00 2.07%
1% 537,823.00 1.45%
4% 5,351,006.00 14.44%
5% 485,949.00 1.31%
3,399,736.00 9.17%
2,465,556.00 6.65%
2,359,724.00 6.37%
6% 1,144,753.00 3.09%
1,729,531.00 4.67%
0% 37,067,886.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
89% 15,799,313.00 15.21%
550,881.00 0.53%
97% 8,499,834.00 8.18%
13,980,997.00 13.46%
69% 4,501,343.00 4.33%
79% 3,674,280.00 3.54%
40% 2,570,927.00 2.47%
60% 655,747.00 0.63%
53% 1,826,219.00 1.76%
98% 2,004,315.00 1.93%
39% 7,739,659.00 7.45%
46% 915,283.00 0.88%
48% 5,685,911.00 5.47%
85% 4,318,722.00 4.16%
08% 4,414,056.00 4.25%
96% 24,154,111.00 23.25%
94% 2,601,771.00 2.50%
00% 103,893,369.00 100.00%
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
11,461,052.00 30.97%
2,455,526.00 6.64%
7% 1,600,421.00 4.32%
5% 2,446,709.00 6.61%
3% 415,252.00 1.12%
348,952.00 0.94%
0% 770,349.00 2.08%
6% 539,910.00 1.46%
9% 5,474,685.00 14.79%
4% 500,848.00 1.35%
3,127,073.00 8.45%
2,443,947.00 6.60%
2,345,956.00 6.34%
5% 1,158,819.00 3.13%
1,918,984.00 5.19%
0% 37,008,483.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
92% 16,091,793.00 15.35%
556,132.00 0.53%
17% 8,865,335.00 8.46%
14,214,931.00 13.56%
64% 4,473,728.00 4.27%
12% 3,458,373.00 3.30%
29% 2,542,585.00 2.43%
61% 672,432.00 0.64%
53% 1,837,176.00 1.75%
98% 2,012,091.00 1.92%
13% 7,908,023.00 7.54%
52% 943,344.00 0.90%
35% 5,575,997.00 5.32%
80% 4,280,871.00 4.08%
05% 4,388,303.00 4.19%
98% 24,450,904.00 23.32%
91% 2,566,051.00 2.45%
00% 104,838,069.00 100.00%
Global (US+) Equity Alloc
V Market Value % of Total MV
[C] [C]
14,474,871.00 32.09%
2,624,203.00 5.82%
5% 1,781,994.00 3.95%
5% 2,607,640.00 5.78%
7% 1,550,936.00 3.44%
549,893.00 1.22%
5% 768,817.00 1.70%
7% 591,501.00 1.31%
6% 6,744,033.00 14.95%
5% 576,743.00 1.28%
3,144,931.00 6.97%
3,054,357.00 6.77%
2,993,802.00 6.64%
0% 1,560,003.00 3.46%
2,082,015.00 4.62%
0% 45,105,739.00 100.00%
Global Balanced Alloc
MV Market Value % of Total MV
[C] [C]
96% 17,890,558.00 15.52%
559,808.00 0.49%
14% 9,269,719.00 8.04%
14,786,051.00 12.83%
02% 4,657,832.00 4.04%
33% 3,943,805.00 3.42%
11% 3,915,324.00 3.40%
55% 769,959.00 0.67%
60% 2,857,668.00 2.48%
04% 2,263,907.00 1.96%
39% 8,458,558.00 7.34%
83% 1,045,659.00 0.91%
01% 6,040,668.00 5.24%
03% 4,916,516.00 4.26%
06% 4,907,628.00 4.26%
06% 26,097,119.00 22.64%
86% 2,909,076.00 2.52%
00% 115,289,855.00 100.00%
April 23, 1998
To the Trustees of GMO Trust
In planning and performing our audit of the financial statements of thirty-three
of the series (GMO Core Fund, GMO Value Fund, GMO Growth Fund, GMO Tobacco-Free
Core Fund, GMO Fundamental Value Fund, GMO REIT Fund, GMO Small Cap Growth Fund,
GMO Small Cap Value Fund, GMO U.S. Sector Fund, GMO World Equity Allocation
Fund, GMO International Equity Allocation Fund, GMO Global (U.S. +) Equity
Allocation Fund, GMO Global Balanced Allocation Fund, GMO Short-Term Income
Fund, GMO Domestic Bond Fund, GMO Inflation Indexed Bond Fund, GMO Emerging
Country Debt Fund, GMO International Bond Fund, GMO Global Bond Fund, GMO U.S.
Bond/Global Alpha A Fund, GMO U.S. Bond/Global Alpha B Fund, GMO Currency Hedged
International Bond Fund, GMO Global Hedged Equity Fund, GMO Emerging Markets
Fund, GMO International Core Fund, GMO Japan Fund, GMO Asia Fund, GMO
International Small Companies Fund, GMO Evolving Countries Fund, GMO Currency
Hedged International Core Fund, GMO Foreign Fund, GMO Global Properties Fund and
Pelican Fund of the GMO Trust (the "Trust") for the year ended February 28,
1998, we considered the Trust's internal control, including control activities
for safeguarding securities, in order to determine our auditing procedures for
the purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance on internal
control.
The management of the Trust is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
To the Trustees of GMO Trust
Page 2
April 23, 1998
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
February 28, 1998.
This report is intended solely for the information and use of management and the
Trustees of the Trust and the Securities and Exchange Commission.
