https://www.sec.gov/Archives/edgar/data/822632/000119312517134940/d277601d497.htm497 1 d277601d497.htm WILLIAM BLAIR FUNDS
WILLIAM BLAIR FUNDS
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 2016 (AS SUPPLEMENTED AUGUST 2, 2016 AND OCTOBER 13, 2016)
The information below supplements the prospectus for Class N and Class I Shares of the William Blair Mid Cap Value Fund.
The Mid Cap Value Fund (the “Fund”) is closed to additional investment.
Upon the recommendation of the Adviser, the Board of Trustees determined that it was in the best interests of the Fund to redeem all the shares of the Fund outstanding on or about June 15, 2017 (the “Liquidation Date”), and then to terminate the Fund. Prior to the Liquidation Date, shareholders of the Fund may redeem their shares or exchange their shares for shares of another William Blair Fund. Any shares of the Fund that have not been redeemed or exchanged prior to the Liquidation Date will be redeemed automatically at their net asset value per share on that date.
Dated: April 24, 2017
WILLIAM BLAIR FUNDS
222 West Adams Street
Chicago, Illinois 60606
Please retain this supplement with your Prospectus for future reference.
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WILLIAM BLAIR FUNDS
SUPPLEMENT TO SUMMARY PROSPECTUS DATED MAY 1, 2016
The information below supplements the Summary Prospectus for Class N and Class I Shares of the William Blair Mid Cap Value Fund.
The Mid Cap Value Fund (the “Fund”) is closed to additional investment.
Upon the recommendation of the Adviser, the Board of Trustees determined that it was in the best interests of the Fund to redeem all the shares of the Fund outstanding on or about June 15, 2017 (the “Liquidation Date”), and then to terminate the Fund. Prior to the Liquidation Date, shareholders of the Fund may redeem their shares or exchange their shares for shares of another William Blair Fund. Any shares of the Fund that have not been redeemed or exchanged prior to the Liquidation Date will be redeemed automatically at their net asset value per share on that date.
Dated: April 24, 2017
WILLIAM BLAIR FUNDS
222 West Adams Street
Chicago, Illinois 60606
Please
retain this supplement with your Summary Prospectus for future reference.
