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As the U.S. retail distribution arm of Affiliated Managers Group, Inc., the worlds leading provider of boutique investment management expertise to institutional and individual investors, AMG Funds is your single point of access to more than 100 mutual funds and separately managed accounts from over 30 independent autonomous fund managers.

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Rated against 363Mid-Cap Blend funds as of 08/31/2019

View Morningstar DetailsQuarterly Performance (%)vs. Benchmark as of 06/30/2019

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance quoted. The investment return and the principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879 or visit our website at . From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses.

Read Important Investment DisclosuresObjective

Seeks to provide long-term capital appreciation by investing in a concentrated all cap portfolio of securities.

May be appropriate for investors looking to gain exposure to a portfolio of U.S. and non-U.S. companies that may invest in securities of all market capitalizations

Enlightened risk managementportfolio managers will not average down on losing positions

Employs a fundamentals-driven Absolute Value® investment philosophy, targeting a concentrated, all-cap Fund portfolio of securities representing River Roads best ideas across their core strategies

Since Inception 11/03/2015 to 08/31/2019 = $14,899.51

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879 or visit our website at . From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown.

A relatively concentrated portfolio of River Roads best core ideas, the Fund is comprised of equity securities of U.S. and non-U.S. companies of all market capitalizations. The Funds Absolute Value® approach utilizes systematic and dynamic proprietary research to target companies exhibiting:

Active Management: The Boutique AdvantageIn the debate over active investment management, the importance of boutiques is often overlooked. Recent research illustrates the edge that boutiques enjoy, and the key characteristics linked to their success.Watch VideoAboutAbout River Road Asset ManagementBackground

River Road Asset Management was established in 2005 and provides institutional separate account and investment sub-advisory services to a broad range of domestic and international clients. The firm was founded upon a proprietary Absolute Value® investment discipline. This approach was developed by River Roads founders and occupies a distinct niche within value investing styles.

More Funds From River Road Asset ManagementARDEXRiver Road Dividend All Cap Value Fund

Seeks to provide high current income and, secondarily, long-term capital appreciation by investing primarily in a diversified, all cap portfolio of income producing equity securities.

Seeks to provide long-term capital appreciation and high current income by investing in a diversified, all cap portfolio of income-producing equity securities.

Seeks to provide absolute return while minimizing volatility by investing in U.S. stocks River Road expects to increase in value, and shorting stocks River Road expects to decrease in value.

Seeks to provide long-term capital appreciation by investing in a portfolio of small and mid capitalization equity securities.

Seeks to provide long-term capital appreciation by investing in a portfolio of primarily small but also can invest in mid capitalization equity securities.

Seeks a high level of current income by investing in a flexible portfolio of fixed income securities.

MGFIXBloomberg Barclays U.S. Government/Credit Bond Index

Quarterly performance (%) data as of 06/30/2019

Seeks to provide long-term capital appreciation by primarily investing in international small cap companies.

Quarterly performance (%) data as of 06/30/2019

HLMNXHarding Loevner International Equity Portfolio

The Portfolio seeks long-term capital appreciation through investments in equity securities of companies based outside the United States.

Quarterly performance (%) data as of 06/30/2019

Discover how AMG Funds brings more than 100 products from over 30 independent boutiques together under one flag.

Fund InceptionQuarterly Performance (%)(as of)

The performance shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indicies exclude expenses. Unlike the Fund, the Index listed is unmanaged, is not available for investment and does not incur expenses.

River Road Focused Absolute Value Fund has an Equity Income Objective, seeking to achieve income and capital appreciation.

© Copyright 2019 AMG Funds LLC. All rights reserved.

Investors should carefully consider the Funds investment objectives, risks, charges and expenses before investing. For this and other information, please call 800.835.3879 or visit a free prospectus. Read it carefully before investing or sending money.

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879 or visit our website at time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses.

The Funds Investment Manager has contractually agreed, through March 1, 2020, to limit fund operating expenses. The net expense ratio reflects this limitation, while the gross expense ratio does not. Please refer to the Funds prospectus for additional information on the Funds expenses.

Click here to view Index Definitions. Unlike the Fund, indicies are unmanaged, not available for investment and do not incur expenses.

The Fund is subject to risks associated with investments in small-capitalization companies, such as erratic earnings patterns, competitive conditions, limited earnings history and a reliance on one or a limited number of products.

The Fund is subject to risks associated with investments in mid-capitalization companies such as greater price volatility, lower trading volume, and less liquidity than the stocks of larger, more established companies.

Active and frequent trading of a fund may result in higher transaction costs and increased tax liability.

A greater percentage of the Funds holdings may be focused in a smaller number of securities which may place the Fund at greater risk than a more diversified fund.

Investments in international securities are subject to certain risks of overseas investing including currency fluctuations and changes in political and economic conditions, which could result in significant market fluctuations.

The Fund is subject to special risk considerations similar to those associated with the direct ownership of real estate. Real estate valuations may be subject to factors such as changing general and local economic, financial, competitive, and environmental conditions.

The Fund invests in value stocks, which may perform differently from the market as a whole and may be undervalued by the market for a long period of time.

Investing in PTPs (including master limited partnerships) involves risks in addition to those typically associated with publicly traded companies. PTPs are exposed to the risks of their underlying assets, which in many cases includes the same types of risks as energy and natural resources companies. PTPs are also subject to capital markets risk. PTPs may lose their partnership status for tax purposes. The Funds status as a regulated investment company may be jeopardized if it does not appropriately limit such investments in PTPs or if such investments are recharacterized for tax purposes.

Companies that are in similar businesses may be similarly affected by particular economic or market events; to the extent the Fund has substantial holdings within a particular sector, the risks associated with that sector increase.

The Fund is subject to the risks associated with investments in emerging markets, such as erratic earnings patterns, economic and political instability, changing exchange controls, limitations on repatriation of foreign capital and changes in local governmental attitudes toward private investment, possibly leading to nationalization or confiscation of investor assets.

The sector allocation chart represents sectors at least 5%.

Portfolio holdings and characteristics are subject to change at any time.

Top Ten Holdings:Mention of a specific security should not be considered a recommendation to buy or solicitation to sell that security.

Future Holdings Risk:Any sectors, industries or securities discussed should not be perceived as investment recommendations. The views expressed represent the opinions of AMG Funds LLC and are not intended as a forecast or guarantee of future results. Any securities discussed may no longer be held in an accounts portfolio. Both current and future portfolio holdings are subject to risk. It should not be assumed that any of the securities transactions discussed were or will prove to be profitable, or that the investment recommendations we make in the future will be profitable.

Data Sources: BoNY, FactSet, Bloomberg and ICE Data Analytics.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a funds monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

Morningstar Rating is for the share class indicated only (see ticker); other share classes may have different performance characteristics. The Ranking may reflect the waiver of all or a portion of the funds fees. Without such waiver, the Rankings may have been lower. Past performance is no guarantee of future results.

©2018 Morningstar, Inc. All Rights Reserved. Some of the information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar, its content providers nor the AMG Funds are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

AMG Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC.

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