WSMIX : William Blair Small-Mid Cap Value Fund Class I

Fund Summary

The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of small capitalized and medium capitalized companies. It invests primarily in a diversified portfolio of equity securities, including common stocks and other forms of equity investments, of small cap and mid cap domestic companies that the advisor believes offer a long-term investment value.