AMG Veritas China Fd USD Class N (MMCFX) Exchange: NMFQS

Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in U.S. micro-cap stocks. The Fund generally considers a stock to be a micro-cap stock if, at the time of purchase, its market capitalization is within the range of capitalizations of companies in the Russell Microcap® Index. As of May 10, 2019, the date of the latest reconstitution of the Index (implemented by the Index June 28, 2019), the range of market capitalizations for the Russell Microcap® Index was $30.2 million to $1.0 billion. This capitalization range will change over time. The Fund may retain securities that it already has purchased even if the stock drops below or outgrows the capitalization limits. The Fund will invest in a combination of value-oriented and growth-oriented stocks. The Fund’s assets are currently allocated among three Subadvisers, each of which acts independently of the others and uses its own methodology to select portfolio investments, including value, core and growth approaches.