William Blair Ultra-Short Duration Bond Fund Class N 

The fund's primary goal is to maximize total return, which encompasses both income generation and capital appreciation. Under normal market conditions, the fund typically allocates a minimum of 80% of its net assets (plus any borrowed funds used for investment) to debt instruments. For the purpose of this policy, "bonds" refers to all types of fixed-income securities. Its investment strategy focuses predominantly on high-quality, investment-grade debt securities, specifically those rated within the top three categories by at least one nationally recognized statistical rating organization. Furthermore, all of its holdings are denominated exclusively in U.S. dollars.