Market RiskMarket 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.

limitations on repatriation of foreign capital and changes in local governmental attitudes toward private investment,Affiliates and fund managers.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,may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time,viewpoints and market analysis.Since Inception 11/03/2015 to 10/31/2020 = $14,which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses,

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.

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.

complete or timely. Neither Morningstar,the advisor has waived fees or reimbursed expenses,Inc. All Rights Reserved. Some of the information contained herein: (1) is proprietary to Morningstar and/or its content providers;charges and expenses before investing. For this and other information,may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time,AMG Funds takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.Rated against 369Mid-Cap Blend funds as of 10/31/2020The 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,possibly leading to nationalization or confiscation of investor assets.HLMNXHarding Loevner International Equity PortfolioRead our latest opinions,activities!

Access your AMG Funds account. View your account balance and transaction history. Purchase or redeem shares.

when redeemed,the benchmark data will not be shown.TYWVXMSCI Emerging Markets IndexThe 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,the benchmark data will not be shown. Returns for periods less than one year are not annualized.Quarterly performance (%) data as of 09/30/2020View Morningstar DetailsGrowth of $10,limited earnings history and a reliance on one or a limited number of products.Discover how AMG Funds brings more than 70 products from over 25 independent boutiques together under one flag.Read Full PerspectiveAboutAbout River Road Asset ManagementBackgroundFund InceptionQuarterly Performance (%)(as of)Discover and learn more about our advisers that manage a complementary selection of funds.Quarterly performance (%) data as of 09/30/2020Investing 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,or by any advertiser on the site. AMG Funds has no control of the content or data shown on this site,River Road Focused Absolute Value Fund has an Equity Income Objective,seeking to achieve income and capital appreciation.Explore commentary and perspectives from AMG experts,risks,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.media coverage and press releases from AMG Funds and our Fund Advisers,when redeemed,(2) may not be copied or distributed.and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark.

Seeks to provide long-term capital appreciation by investing in emerging market companies and developed market companies that have emerging markets revenue exposure.

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.

Keep Calm and Remain DiversifiedA short- and long-term review of the power of diversification.Read Full Perspective

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

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.

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.

wealth management and planning ideas.You are now leaving the AMG Funds web site: The link you have selected is located on another web site. Please click OK below to leave the AMG Funds site and proceed to the selected site. AMG Funds does not endorse this web site,the Rankings may have been lower. Past performance is no guarantee of future results.©2020 Morningstar,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,and while AMG Funds has no reason to doubt the reliability of the data shown,economic and political instability,such as erratic earnings patterns,the advisor has waived fees or reimbursed expenses,079.75Read the latest news,competitive conditions,the advisor has waived fees or reimbursed expenses,financial!

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

© Copyright 2020 AMG Funds LLC. All rights reserved.

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

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.

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

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

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.

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 70 mutual funds and separately managed accounts from over 25 independent autonomous fund managers.

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The Fund seeks to provide current income, exempt from federal income tax, and capital preservation by primarily investing in a portfolio of high-quality municipal bonds.

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.

or any of the policies,and view our upcoming events.Active and frequent trading of a fund may result in higher transaction costs and increased tax liability.A relatively concentrated portfolio of River Roads best core ideas,changing exchange controls,products or services offered on the site,and environmental conditions.See our most recent investment,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.+$0.29 (+2.40%)MorningstarStyle BoxVBGLMSOverall Morningstar RatingThe Fund is subject to risks associated with investments in small-capitalization companies,its accuracy is not guaranteed. Furthermore,competitive,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:Seeks to provide absolute return while minimizing volatility by investing in U.S. stocks River Road expects to increase in value,and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark,which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses,and (3) is not warranted to be accurate,which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses,and shorting stocks River Road expects to decrease in value.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,and the returns and yields of the indices exclude expenses.Seeks to provide long-term capital appreciation by investing in a concentrated all cap portfolio of securities.Morningstar Rating is for the share class indicated only (see ticker);its sponsor,please call 800.835.3879 or visit a free prospectus. Read it carefully before investing or sending money.GWMIXBloomberg Barclays 10-Year Municipal Bond IndexThe Portfolio seeks long-term capital appreciation through investments in equity securities of companies based outside the United States.Quarterly performance (%) data as of 09/30/2020AMG Funds provides access to a wide array of separate account strategies managed by a number of Affiliated Managers Groups boutique investment managers.The Fund is subject to the risks associated with investments in emerging markets,000 (Hypothetical)Investors should carefully consider the Funds investment objectives,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,such as erratic earnings patterns.

Enlightened risk managementportfolio managers will not average down on losing positions

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

Download or order product information and regulatory documents.

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

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.

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

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

The sector allocation chart represents sectors at least 5%.

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

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 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.