The investment seeks total return. The adviser seeks to achieve the fund’s investment objective by investing the fund’s assets primarily in equities of companies in the resource transition sector. The fund's managers consider the “resource transition sector” to include companies that own, produce, refine, process, transport, and market natural resources other than fossil fuels and companies that provide related equipment, infrastructure, and services. The fund also may invest in U.S. Treasury fund, in money market funds unaffiliated with GMO, and directly in the types of investments typically held by money market funds.