Old Westbury Small & Mid Cap Strategies Fund 

This fund allocates its capital to a comprehensive and diverse array of equities issued by companies with small and medium market capitalizations. These include businesses listed on major U.S. stock exchanges or traded over-the-counter in the U.S., as well as international small and medium-sized enterprises located in various foreign markets, encompassing developing nations. Under typical market conditions, a minimum of 80% of the fund's net assets, including any funds borrowed for investment purposes, will be dedicated to securities of small and medium-sized companies.