An exciting new addition to the AMG Funds platform, The AMG Veritas Global Real Return Fund (BLUEX) seeks to provide principal protection along with the opportunity to participate in global economic growth. The AMG Veritas Global Real Return Fund’s objective is to deliver real returns over the medium and longer term by investing selectively in a global portfolio of securities. The Fund seeks to achieve this goal by protecting and growing the purchasing power of its clients’ capital over time. The focus on generating returns that exceed inflation reflects the Fund’s managers’ belief that investment opportunities should be evaluated based on their ability to deliver real returns—that is, performance after the impact of inflation. Veritas emphasizes real returns because they more closely reflect the value the investor ultimately receives from an investment. Why Real Returns? When evaluating mutual funds, investors often look at past performance. That performance shows the fund’s nominal rate of return, which is typically compared to a benchmark index. Nominal returns can be somewhat misleading in that they do not reflect the impact of inflation on investor earnings. The U.S. has enjoyed a relatively low level of inflation for several decades, but at other times throughout history, inflation has taken a significant bite out of returns. For example, a bond fund earning 12% in 1980 would have actually lost value since the rate of inflation was 13.5% at that time. An investment of $10,000 in such a fund would have been worth about $9,850 at the end of one year due to due to inflation. While the fund’s nominal return was 12%, its real rate of return was closer to -0.15%. Because they are adjusted for inflation, real returns give a truer, more accurate picture of the value an investment ultimately provides. Nominal vs. Real Returns How Inflation Eats Into Your Returns A Closer Look at Veritas Asset Management Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. The firm manages both funds and segregated portfolios for institutional and retail investors globally. The focus is on identifying good quality, sustainable businesses and remaining patient to buy into these companies at the right entry point in order to achieve long term real returns. learn more about veritas’ approach and philosophy BLUEX Veritas Global Real Return Fund The Fund seeks to protect and grow the real value of shareholder capital by investing for the long term in solid businesses that have the potential to generate robust real returns. learn more about the fund Global in Scope, Focused on Change Global in scope, focused on change Based on its own in-depth analysis, the Fund’s managers form views about the large-scale shifts that are taking place in the world today (i.e., “megatrends”). They then seek to identify the companies that stand to benefit most from the drivers of change. Specifically, Fund managers look for companies that possess strong, long-lasting competitive advantages that will enable them to outperform, as well as significant barriers that will prevent competitors from eroding their market position. At all times, Fund management maintains a bias toward lower-risk opportunities. Investors should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. For this and other information, please call 800.548.4539 or visit amgfunds.com for a free Prospectus. Read it carefully before investing or sending money. Active and frequent trading of a fund may result in higher transaction costs and increased tax liability. A greater percentage of the Fund’s 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. These risks are magnified in emerging markets. The Fund is subject to currency risk resulting from fluctuations in exchange rates that may affect the total loss or gain on a non-U.S. dollar investment when converted back to U.S. dollars. Market prices of investments held by the Fund may fall rapidly or unpredictably due to a variety of economic or political factors, market conditions, disasters or public health issues, or in response to events that affect particular industries or companies. The issuers of bonds or other debt securities or a counterparty to a derivatives contract may be unable or unwilling to make interest, principal, or settlement payments. When the Fund has a significant cash balance for a sustained period, the benefit to the Fund of any market upswing may likely be reduced, and the performance may be adversely affected. Changes in the general political and social environment of a country can have substantial effects on the value of investments exposed to that country. The Fund may invest in derivatives such as options and futures; the complexity and rapidly changing structure of derivatives markets may increase the possibility of market losses. The Fund may not be able to value its investments in a manner that accurately reflects their market values, and the Fund may not be able to sell an investment at a price equal to the valuation ascribed to that investment by the fund. 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. Because exchange-traded funds (ETFs) incur their own costs, investing in them could result in a higher cost to the investor. Additionally, the fund will be indirectly exposed to all the risks of securities held by the ETFs. The use of leverage in a Fund’s strategy, such as futures and forward commitment transactions, can magnify relatively small market movements into relatively larger losses for the Fund. The Fund may not be able to dispose of particular investments, such as illiquid securities, readily at favorable times or prices, or the Fund may have to sell them at a loss. 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. 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 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.