ARSZX – AMG River Road Small-Mid Cap Value Z Investment Strategy | Morningstar

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Strategy

The investment seeks to provide long-term capital appreciation. The fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities of small- and mid-capitalization companies that the subadviser believes are undervalued. The subadviser considers small- and mid-capitalization companies to be those with market capitalizations at the time of acquisition within the range of capitalizations of companies in the Russell 2500™ Index. Value investing involves buying stocks that the subadviser believes are out of favor and/or undervalued in comparison to their peers or their prospects for growth.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
ARSMX	AMG River Road Small-Mid Cap Value Fund Class N	No Load	Open			Mar 29, 2007	$13.39M	1.280%	Above Average	$2,000	−$5.54M
ARIMX	AMG River Road Small-Mid Cap Value Fund Class I	Institutional	Open			Jun 28, 2007	$259.75M	1.020%	Above Average	$100,000	−$48.13M
ARSZX	AMG River Road Small-Mid Cap Value Fund Class Z	Institutional	Open			Sep 29, 2017	$39.43M	0.970%	Above Average	$5M	$1.25M

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