AMG GW&K Small/Mid Cap Growth Fund – I

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Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of small- and mid-capitalization companies. The manager currently defines small- and mid-capitalization companies to be those with market capitalizations at the time of purchase within the range of capitalizations of companies in the Russell 2500® Growth Index. The subadviser seeks to identify quality companies with growth oriented characteristics.