Please Note: I shares of the Fund are only available for sale to the public in: AK, AL, AR, CA, CO, CT, DE, FL, GA, GU, HI, ID, IN, KS, KY, MD, MN, MO, NC, NJ, NV, NY, OH, OR, PA, RI, SC, UT, VA and WY. Fund Overview Fund Overview Share Class I N I Z NAV | as of 12/05/2023 $9.92 -$0.05 (-0.50%) Morningstar | Style Box V B G L M S Overall Morningstar Rating Rated against 721 Diversified Emerging Mkts funds as of 10/31/2023 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 12/14/2016 to 11/30/2023 = $16,833.46 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. 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 investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.548.4539 or visit our website at amgfunds.com. 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. View Performance Read Important Investment Disclosures Objective Seeks to provide long-term capital appreciation by investing primarily in small cap companies in emerging markets. Why Consider May be appropriate for investors looking to gain exposure to non-U.S. small cap companies in emerging markets TimesSquare leverages its wealth of experience investing in emerging market small cap companies, relying on bottom-up research to identify growth businesses with exceptional management, distinct, sustainable competitive advantages and consistent growth Documents Fact Sheet Summary Prospectus Prospectus SAI 2019 Form 8937 2023 Distributions Estimates View All Documents David L. Oh SENIOR VICE PRESIDENT AND PORTFOLIO MANAGER/ANALYST See Our Approach Read Bio Magnus S. Larsson DIRECTOR AND PORTFOLIO MANAGER See Our Approach Read Bio Investment Style TimesSquare Emerging Markets Small Cap Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective TimesSquare Emerging Markets Small Cap Fund is categorized as Mid-Growth. It invests in medium-cap companies with high risk. Morningstar Ratings Risk-adjusted returns as of 10/31/2023 Overall Rating (of 721) 3 Years (of 721) 5 Years (of 651) 10 Years — Category Diversified Emerging Mkts Read Important Investment Disclosures David L. Oh SENIOR VICE PRESIDENT AND PORTFOLIO MANAGER/ANALYST David is a Senior Vice President and Portfolio Manager/Analyst on TimesSquare’s International Small Cap team which covers Developed, Emerging, and Frontier markets. Prior to joining TimesSquare in 2019, David was a Principal at Sustainable Growth Advisers where he analyzed companies across a range of sectors within a global framework. Prior to Sustainable Growth Advisers, he held various senior research and investment positions at Alinda Capital Partners, Third Point, Sempra Energy Partners, and Credit Suisse First Boston. He graduated cum laude with a BA in both history and East Asian studies from Yale University, and has an MBA from Harvard Business School. He is fluent in Mandarin and conversant in Spanish. Magnus S. Larsson DIRECTOR AND PORTFOLIO MANAGER Magnus Larsson is a Director and Portfolio Manager on TimesSquare’s International Small Cap team. Prior to joining TimesSquare in 2012, Mr. Larsson was a Portfolio Manager at Nordea Investment Management where he focused on European small and mid cap equities. Prior to Nordea, he held a similar role at SEB Asset Management as a Portfolio Manager focusing on European small and mid caps. Mr. Larsson's prior experience also includes a Financial Analyst role specializing in small and mid cap equity research with Borsinsikt and a position as an Institutional Equity Sales Director at Beeson Gregory. He holds a BS in economics and business administration from the University of Orebro, Sweden, as well as a BA in social science. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns 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 investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.548.4539 or visit our website at amgfunds.com. 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. Expense Ratios Gross Expense Ratio: 3.83% Net Expense Ratio: 1.28% Expense Cap Expiration Date: 05/01/2024 Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 15, 2022 $0.184900 — — $0.184900 Dec 15, 2021 $4.397500 $0.136500 $2.527700 $1.733300 Dec 16, 2020 $0.044800 $0.044800 — — Dec 16, 2019 $0.059000 $0.059000 — — Dec 27, 2018 $0.621100 $0.056700 $0.258100 $0.306300 Dec 27, 2017 $0.990200 $0.161200 $0.827600 $0.001400 From: To: Risk & Return Stats As of: 11/30/2023 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -2.63 0.85 - Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 16.34 19.03 - Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.14 0.36 - Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 92.74 92.05 - Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 107.05 96.42 - Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 0.96 0.90 - R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 87.90 92.49 - Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 5.72 5.62 - View All Characteristics & Stats All Characteristics & Stats TimesSquare Emerging Markets Small Cap Fund (TQEIX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund MSCI Emerging Markets Small Cap Index Fund Assets (Mil.$) $2 Number of Holdings 91 1,978 Weighted Avg. Market Cap (Mil.$) $1,810 $1,759 Median Market Cap (Mil.$) $1,279 $919 Weighted Avg. P/E (1-yr Forward EPS) 19.65 13.95 Weighted Avg. P/E (Trailing EPS) 21.25 13.81 PEG Ratio 0.87 0.86 Weighted Avg. P/B 2.98 1.52 EPS Growth (Trailing 3-yr %) 22.55% 15.69% EPS Growth (Trailing 5-yr %) 16.57% 12.56% Forward EPS Growth (1-yr %) 16.38% 2.80% Forward EPS Growth (Long Term %) 24.24% 19.90% Revenue Growth (Trailing 5-yr %) 13.60% 7.98% Return on Equity 15.91% 14.01% Weighted Avg. Dividend Yield 1.52% 2.67% Debt to Equity 50.28 62.43 Trailing 12-Months Portfolio Turnover 100.45% As of: 09/30/2023 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -2.63 0.85 - Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 16.34 19.03 - Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.14 0.36 - Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 92.74 92.05 - Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 107.05 96.42 - Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 0.96 0.90 - R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 87.90 92.49 - Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 5.72 5.62 - Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -0.56 0.01 - Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. 2.34 7.63 - Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -32.81 -32.81 - As of: 11/30/2023 Market Cap Fund MSCI Emerging Markets Small Cap Index Market Cap ($mm) 0 - 1,000 44.42% 32.75% Market Cap ($mm) 1,000 - 1,500 14.92% 21.29% Market Cap ($mm) 1,500 - 2,500 15.15% 23.77% Market Cap ($mm) 2,500 - 5,000 19.22% 19.41% Market Cap ($mm) 5,000 - 10,000 6.29% 2.76% Market Cap ($mm) 10,000 - 25,000 0.00% 0.00% Market Cap ($mm) 25,000 - 50,000 0.00% 0.00% Market Cap ($mm) 50,000 - 100,000 0.00% 0.00% Market Cap ($mm) 100,000 - 200,000 0.00% 0.00% Market Cap ($mm) 200,000 - 0.00% 0.00% Market Cap – NA 0.00% 0.01% As of: 09/30/2023 Valuation Characteristics Fund MSCI Emerging Markets Small Cap Index P/E 0-10 5.55% 18.89% P/E 10-15 18.40% 15.30% P/E 15-20 10.93% 12.34% P/E 20-25 6.94% 6.63% P/E 25-Above 46.56% 35.60% P/E – NA 11.62% 11.24% As of: 09/30/2023 Growth Characteristics Fund MSCI Emerging Markets Small Cap Index EPS Growth (Trailing 3-yr %) - Negative 16.73% 22.62% EPS Growth (Trailing 3-yr %) 0 - 5 4.23% 7.34% EPS Growth (Trailing 3-yr %) 5 - 10 6.01% 5.81% EPS Growth (Trailing 3-yr %) 10 - 15 8.88% 5.66% EPS Growth (Trailing 3-yr %) 15 - 20 10.30% 6.59% EPS Growth (Trailing 3-yr %) Above 20 39.97% 39.05% EPS Growth (Trailing 3-yr %) - NA 13.88% 12.92% As of: 09/30/2023 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 09/30/2023 KINX Inc 2.67% AKR Corporindo Tbk PT 1.93% Kalyan Jewellers India Ltd 1.88% Green World Fintech Service Co Ltd 1.81% Maharah Human Resources Co 1.60% Intellian Technologies Inc 1.59% Metrodata Electronics Tbk PT 1.58% Andes Technology Corp 1.57% Chinasoft International Ltd 1.55% Alamar Foods 1.53% % in Top 10 Holdings 17.70% View Holding Details Holding Details TimesSquare Emerging Markets Small Cap Fund (TQEIX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 09/30/2023 KINX Inc 2.67% AKR Corporindo Tbk PT 1.93% Kalyan Jewellers India Ltd 1.88% Green World Fintech Service Co Ltd 1.81% Maharah Human Resources Co 1.60% Intellian Technologies Inc 1.59% Metrodata Electronics Tbk PT 1.58% Andes Technology Corp 1.57% Chinasoft International Ltd 1.55% Alamar Foods 1.53% % in Top 10 Holdings 17.70% As of: 09/30/2023 Download All Holdings (PDF) As of: 10/31/2023 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund 093320 KINX Inc Communication Services S KR KRW 700 63.16 $44,214 2.66% AKRA AKR Corporindo Tbk PT Energy S ID IDR 333,000 0.09 $31,235 1.88% 6763 Green World Fintech Service Co Ltd Financials S TW TWD 2,387 12.06 $28,789 1.73% ALAMAR Alamar Foods Consumer Discretionary S SA SAR 800 35.50 $28,404 1.71% KALYANKJ Kalyan Jewellers India Ltd Consumer Discretionary S IN INR 8,163 3.47 $28,336 1.70% 6533 Andes Technology Corp Information Technology S TW TWD 2,300 11.97 $27,521 1.65% 354 Chinasoft International Ltd Information Technology S CN HKD 37,800 0.73 $27,425 1.65% MTDL Metrodata Electronics Tbk PT Information Technology S ID IDR 861,800 0.03 $27,397 1.65% 6643 M31 Technology Corp Information Technology S TW TWD 1,000 27.09 $27,091 1.63% 079550 LIG Nex1 Co Ltd Industrials S KR KRW 400 64.68 $25,873 1.55% 248070 SOLUM Co Ltd Information Technology S KR KRW 1,200 21.49 $25,782 1.55% 3661 Alchip Technologies Ltd Information Technology S TW TWD 300 82.02 $24,605 1.48% 099430 Bio Plus Co Ltd Health Care S KR KRW 5,100 4.81 $24,545 1.47% 1795 Lotus Pharmaceutical Co Ltd Health Care S TW TWD 3,100 7.80 $24,193 1.45% TRAXIONA Grupo Traxion SAB de CV 144A, Class A Industrials S MX MXN 16,300 1.48 $24,139 1.45% AGII Samator Indo Gas Tbk PT Materials S ID IDR 239,800 0.10 $23,776 1.43% 189300 Intellian Technologies Inc Information Technology S KR KRW 453 52.46 $23,763 1.43% MAHARAH Maharah Human Resources Co Industrials S SA SAR 1,360 17.24 $23,442 1.41% RW Raymond Ltd Consumer Discretionary S IN INR 1,100 21.15 $23,267 1.40% CYL Cyient Ltd Information Technology S IN INR 1,200 19.08 $22,892 1.37% 6472 Bora Pharmaceuticals Co Ltd Health Care S TW TWD 1,139 20.03 $22,815 1.37% 6689 eCloudvalley Digital Technology Co Ltd Information Technology S TW TWD 6,851 3.32 $22,775 1.37% CDSL Central Depository Services India Ltd Financials S IN INR 1,300 17.49 $22,735 1.37% DESP Despegar.com Corp Consumer Discretionary S AR USD 3,400 6.63 $22,542 1.35% 2217 Tam Jai International Co Ltd Consumer Discretionary S HK HKD 132,600 0.17 $22,035 1.32% 417010 NANOTIM Corp Materials S KR KRW 1,900 11.47 $21,786 1.31% EPLL EPL Ltd Materials S IN INR 10,000 2.17 $21,691 1.30% ALARABIA Arabian Contracting Services Co Communication Services S SA SAR 400 53.79 $21,516 1.29% 1368 Xtep International Holdings Ltd Consumer Discretionary S CN HKD 23,500 0.91 $21,365 1.28% RAILTEL Railtel Corp of India Ltd Communication Services S IN INR 7,900 2.68 $21,154 1.27% BELA JUMBO SA Consumer Discretionary S GR EUR 800 26.30 $21,043 1.26% POLICYBZ PB Fintech Ltd Financials S IN INR 2,500 8.41 $21,036 1.26% GMM GMM Pfaudler Ltd Industrials S IN INR 1,000 20.84 $20,835 1.25% OPAP Opap SA Consumer Discretionary S GR EUR 1,200 16.94 $20,326 1.22% ALDAWAA Al-Dawaa Medical Services Co Consumer Staples S SA SAR 800 25.27 $20,212 1.21% PRUDENT Prudent Corporate Advisory Services Ltd Financials S IN INR 1,400 14.40 $20,165 1.21% 1951 Jinxin Fertility Group Ltd 144A Health Care S CN HKD 40,000 0.50 $20,139 1.21% MRDIY MR DIY Group M Bhd 144A Consumer Discretionary S MY MYR 64,400 0.31 $20,008 1.20% 214370 Caregen Co Ltd Health Care S KR KRW 1,000 19.94 $19,935 1.20% PAYTM One 97 Communications Ltd Financials S IN INR 1,800 11.07 $19,921 1.20% ARCO Arcos Dorados Holdings Inc, Class A Consumer Discretionary S UY USD 2,200 9.02 $19,844 1.19% 6515 WinWay Technology Co Ltd Information Technology S TW TWD 1,000 19.78 $19,779 1.19% 6639 Arrail Group Ltd 144A Health Care S CN HKD 19,700 1.00 $19,636 1.18% 340570 T&L Co Ltd Health Care S KR KRW 600 32.71 $19,624 1.18% 9923 Yeahka Ltd Financials S CN HKD 10,500 1.83 $19,203 1.15% CNVRG Converge ICT Solutions Inc Communication Services S PH PHP 129,200 0.15 $19,079 1.15% VARROC Varroc Engineering Ltd 144A Consumer Discretionary S IN INR 3,400 5.53 $18,792 1.13% LWSA3 Locaweb Servicos de Internet SA 144A Information Technology S BR BRL 17,400 1.08 $18,774 1.13% 287410 Jeisys Medical Inc Health Care S KR KRW 2,400 7.81 $18,735 1.13% VVEO3 CM Hospitalar SA Health Care S BR BRL 6,300 2.96 $18,669 1.12% ROUTE Route Mobile Ltd Information Technology S IN INR 982 18.66 $18,319 1.10% CCOLA Coca-Cola Icecek AS Consumer Staples S TR TRY 1,400 13.01 $18,213 1.09% URC Universal Robina Corp Consumer Staples S PH PHP 9,400 1.93 $18,122 1.09% FNH Fraser & Neave Holdings Bhd Consumer Staples S MY MYR 3,300 5.48 $18,077 1.09% FRCB Frontken Corp Bhd Industrials S MY MYR 26,500 0.67 $17,713 1.06% VESTA* Corp Inmobiliaria Vesta SAB de CV Real Estate S MX MXN 5,600 3.14 $17,562 1.05% CENCOSHO Cencosud Shopping SA Real Estate S CL CLP 12,000 1.45 $17,417 1.05% PRJ Praj Industries Ltd Industrials S IN INR 2,700 6.43 $17,370 1.04% 2367 Giant Biogene Holding Co Ltd 144A Consumer Staples S CN HKD 4,300 4.02 $17,277 1.04% MINT/F Minor International PCL Consumer Discretionary S TH THB 21,800 0.78 $16,988 1.02% KFINTECH Kfin Technologies Ltd Financials S IN INR 3,100 5.42 $16,804 1.01% MULT3 Multiplan Empreendimentos Imobiliarios SA Real Estate S BR BRL 3,400 4.92 $16,731 1.00% CARTRADE Cartrade Tech Ltd Consumer Discretionary S IN INR 2,000 8.08 $16,152 0.97% 6979 ZJLD Group Inc 144A Consumer Staples S CN HKD 11,000 1.46 $16,013 0.96% AGLL Allcargo Logistics Ltd Industrials S IN INR 5,200 3.07 $15,969 0.96% MEGACPO Megacable Holdings SAB de CV Communication Services S MX MXN 8,100 1.96 $15,882 0.95% BSE BSE Ltd Financials S IN INR 700 22.38 $15,669 0.94% RBA Restaurant Brands Asia Ltd Consumer Discretionary S IN INR 11,523 1.34 $15,432 0.93% 002439 Venustech Group Inc Information Technology S CN CNY 4,300 3.57 $15,368 0.92% TOTS3 Totvs SA Information Technology S BR BRL 3,059 5.02 $15,363 0.92% 012450 Hanwha Aerospace Co Ltd Industrials S KR KRW 200 75.18 $15,036 0.90% TRACXN Tracxn Technologies Ltd Financials S IN INR 17,781 0.84 $14,947 0.90% INPST InPost SA Industrials S PL EUR 1,500 9.89 $14,842 0.89% BAM/F Bangkok Commercial Asset Management PCL [BAM] Financials S TH THB 55,700 0.25 $13,876 0.83% 1501 Shanghai Kindly Medical Instruments Co Ltd Health Care S CN HKD 3,800 3.61 $13,712 0.82% TXT Text SA Information Technology S PL PLN 500 26.92 $13,461 0.81% 240810 WONIK IPS Co Ltd Information Technology S KR KRW 500 22.36 $11,180 0.67% 2383 Elite Material Co Ltd Information Technology S TW TWD 1,000 11.16 $11,158 0.67% 095340 ISC Co Ltd Information Technology S KR KRW 200 51.62 $10,325 0.62% TAWUNIYA Co For Cooperative Insurance Financials S SA SAR 300 32.20 $9,660 0.58% BURJEEL Burjeel Holdings PLC Health Care S AE AED 11,999 0.79 $9,506 0.57% PDSL PDS Ltd Consumer Discretionary S IN INR 1,300 7.22 $9,381 0.56% EMPOWER Emirates Central Cooling Systems Corp Utilities S AE AED 18,500 0.49 $9,016 0.54% 5263 Brogent Technologies Inc Information Technology S TW TWD 2,500 3.52 $8,807 0.53% 3218 Universal Vision Biotechnology Co Ltd Health Care S TW TWD 956 9.19 $8,785 0.53% OMAB Grupo Aeroportuario del Centro Norte SAB de CV, Class B Industrials S MX MXN 1,100 7.67 $8,433 0.51% TREL TransIndia Real Estate Ltd Real Estate S IN INR 13,900 0.47 $6,536 0.39% ATL Allcargo Terminals Ltd Industrials S IN INR 13,900 0.46 $6,411 0.39% 6990 Sichuan Kelun-Biotech Biopharmaceutical Co Ltd Health Care S CN HKD 400 10.66 $4,262 0.26% CCRI Container Corp Of India Ltd Industrials S IN INR 200 8.27 $1,654 0.10% 2345 Accton Technology Corp Information Technology S TW TWD 100 15.49 $1,549 0.09% 8454 momo.com Inc Consumer Discretionary S TW TWD 35 16.49 $577 0.03% Cash & Equivalents Cash C US USD - - -$27,384 -1.64% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return BSE Ltd 1 1.38% 112.94% Kalyan Jewellers India Ltd 2 1.92% 52.81% Railtel Corp of India Ltd 3 1.55% 69.97% Alchip Technologies Ltd 4 1.42% 45.36% Elite Material Co Ltd 5 0.97% 72.12% Varroc Engineering Ltd 144A 6 1.35% 42.53% Jeisys Medical Inc 7 1.82% 13.50% KINX Inc 8 2.22% 16.11% Coca-Cola Icecek AS 9 0.98% 42.77% GMM Pfaudler Ltd 10 1.16% 24.40% As of: 09/30/2023 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Green World Fintech Service Co Ltd 20 1.81% -20.79% Locaweb Servicos de Internet SA 144A 19 1.18% -28.22% Andes Technology Corp 18 1.71% -19.65% SKC Co Ltd 17 1.17% -24.06% NANOTIM Corp 16 0.34% -30.82% eCloudvalley Digital Technology Co Ltd 15 1.49% -20.34% T&L Co Ltd 14 1.26% -23.38% Tam Jai International Co Ltd 13 1.33% -20.29% Lotus Pharmaceutical Co Ltd 12 1.03% -28.48% One Enterprise Public Co. Ltd.(Alien Mkt) 11 1.00% -25.06% As of: 09/30/2023 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Read Important Investment Disclosures Read Important Investment Disclosures Regional Allocation As of: 09/30/2023 View Allocation Details Allocation Details TimesSquare Emerging Markets Small Cap Fund (TQEIX) Sector Allocation (Equity) Investment Allocation Country Allocation Regional Allocation Top 10 Industries Sector Sort Order Fund MSCI Emerging Markets Small Cap Index Information Technology 22.50% 17.75% Consumer Discretionary 18.09% 11.40% Financials 13.36% 10.20% Health Care 12.14% 9.17% Industrials 12.13% 17.13% Communication Services 7.68% 3.69% Materials 5.23% 13.14% Consumer Staples 4.70% 6.26% Real Estate 3.09% 6.12% Energy 1.93% 2.07% Utilities 0.00% 3.08% Cash & Other -0.85% 0.00% As of: 09/30/2023 Investment Allocation 09/30/2023 Stocks 100.85% Bonds 0.00% Cash and Other -0.85% As of: 09/30/2023 Country Fund MSCI Emerging Markets Small Cap Index India 24.56% 26.22% South Korea 16.94% 13.87% Taiwan 13.40% 21.41% China 9.18% 7.53% Saudi Arabia 6.46% 3.58% Brazil 5.17% 5.10% Indonesia 4.92% 2.16% Mexico 3.27% 2.30% Malaysia 3.14% 2.43% Greece 2.44% 0.45% Philippines 2.30% 0.81% Thailand 2.01% 3.37% Poland 1.58% 1.06% Uruguay 1.20% 0.00% Turkey 1.17% 2.50% % in Top 15 Countries 97.74% 92.79% As of: 09/30/2023 Region Fund MSCI Emerging Markets Small Cap Index Developed 1.15% 0.00% Europe & Middle East 0.00% 0.00% North America 0.00% 0.00% Pacific 1.15% 0.00% Emerging 97.36% 100.00% Asia 76.45% 77.80% Latin America 9.27% 8.16% Europe & Middle East 11.64% 10.52% Africa 0.00% 3.53% Frontier 0.00% 0.00% Africa 0.00% 0.00% Asia 0.00% 0.00% Europe 0.00% 0.00% Latin America 0.00% 0.00% Middle East 0.00% 0.00% Cash & Other 1.49% 0.00% As of: 09/30/2023 Industry Fund MSCI Emerging Markets Small Cap Index Hotels, Restaurants & Leisure 8.22% 1.87% Semiconductors & Semiconductor Equipment 6.82% 7.32% Capital Markets 6.55% 2.61% Software 5.77% 1.35% Diversified Telecommunication Services 5.37% 0.69% Health Care Equipment & Supplies 4.62% 1.01% Textiles, Apparel & Luxury Goods 4.26% 2.21% IT Services 4.25% 1.54% Financial Services 4.14% 1.42% Chemicals 3.93% 6.44% % in Top 10 Industries 53.93% 26.46% As of: 09/30/2023 Read Important Investment Disclosures Investment Approach Investment Approach TimesSquare Emerging Markets Small Cap Fund The Fund seeks to outperform the MSCI Emerging Markets Small Cap Index over a full market cycle. The TimesSquare Emerging Markets Small Cap team uses a bottom up, fundamental research-intensive approach to seek to identify emerging markets small cap stocks with the greatest potential to achieve price appreciation. The Fund invests in companies with market capitalizations less than $5 billion at time of purchase. Keep Calm and Remain Diversified A short- and long-term review on the power of diversification. Read More About About TimesSquare Capital Management Background TimesSquare is a growth equity specialist. They are a trusted partner to institutional investors globally, providing mutual fund and separate account management. Reliance on in-depth, research-driven strategies has historically produced strong results across products and market cycles. Learn More More Products From TimesSquare Capital Management TSYNX TimesSquare Global Small Cap Fund Seeks to provide long-term capital appreciation by primarily investing in small cap companies around the globe. View Fund Details TCMPX TimesSquare International Small Cap Fund The Fund seeks to outperform the MSCI EAFE Small Cap Index over a full market cycle. View Fund Details TMDPX TimesSquare Mid Cap Growth Fund Seeks to provide long-term capital appreciation by investing primarily in mid cap companies. View Fund Details TSCPX TimesSquare Small Cap Growth Fund Seeks to provide long-term capital appreciation by primarily investing in small cap companies. View Fund Details Read Important Investment Disclosures Founded 2000 Headquarters New York, NY Affiliate Since 2004 Discover how the boutique advantage helps generate alpha. Learn More About AMG