William Blair Emerging Markets Small Cap Growth Fund 

The fund's primary objective is to achieve substantial long-term growth of capital. Ordinarily, it allocates a minimum of 80% of its total assets (including any borrowed funds utilized for investment) to equity securities issued by small-capitalization companies operating in emerging markets. The strategy involves building a diversified portfolio predominantly comprised of various equity instruments, such as common shares and other equity-linked investments (like convertible securities). These investments are chosen from emerging market small-cap enterprises that the Adviser identifies as possessing superior growth potential, robust profitability, and high-quality attributes.