William Blair Emerging Markets Leaders Fund Class N 

This fund's core strategy involves committing at least 80% of its net assets (inclusive of any borrowed capital for investment purposes) to securities from developing economies. Its primary focus is on constructing a diversified collection of equity instruments, such as common shares and various equity-linked investments (e.g., convertible securities), issued by companies of all sizes located in emerging markets. The fund's manager specifically targets businesses identified as possessing superior growth potential, robust profitability, and high-quality characteristics. Typically, under ordinary market circumstances, the portfolio maintains a concentrated selection, usually comprising between 50 and 80 individual securities.