https://www.sec.gov/Archives/edgar/data/822632/000119312522041565/d448645d497.htm497 1 d448645d497.htm WILLIAM BLAIR FUNDS
WILLIAM BLAIR FUNDS
WILLIAM BLAIR BOND FUND
WILLIAM BLAIR SHORT DURATION BOND FUND
WILLIAM BLAIR ULTRA-SHORT DURATION BOND FUND
Supplement to the Summary Prospectus, Prospectus and Statement of Additional Information dated May 1, 2021, as Supplemented
Upon recommendation of the Adviser, the Board of Trustees of William Blair Funds (the “Trust”) determined that it was in the best interests of each of the William Blair Bond Fund, William Blair Short Duration Bond Fund, and William Blair Ultra-Short Duration Bond Fund (each a “Fund” and collectively the “Funds”) to redeem all the shares of the Funds on or before April 15, 2022 (the “Liquidation Date”), and then terminate the Funds. Shareholder approval of the liquidation is not required. The Funds will be closed to new investors effective February 14, 2022 but will remain open for investment until February 28, 2022 for existing shareholders.
At any time prior to the Liquidation Date, the Funds’ shareholders may redeem all or a portion of their shares or exchange their Fund shares for shares in the corresponding class of another fund of the Trust pursuant to procedures set forth in the William Blair Funds’ Prospectus. If you wish to exchange your shares into another fund of the Trust, or would like to request additional copies of the Prospectus and Statement of Additional Information for the Trust including other funds for which you may exchange your shares of the Funds, please call William Blair Funds Shareholder Services or your William Blair client representative at the following numbers:
For Class N and Class I Shares
Call: 1-800-635-2886
(In Massachusetts 1-800-635-2840)
For Class R6 Shares
Call: 1-800-742-7272
If you are invested in the Fund through a financial intermediary, please contact that financial intermediary if you have any questions.
Liquidation of Assets. The Funds will depart from their stated investment objectives and policies as they liquidate holdings in preparation for the distribution of assets to investors. During this time, the Funds may hold more cash, cash equivalents or other short-term investments than normal, which may prevent one or more of the Funds from meeting their stated investment objectives. Any shares of the Funds that have not been redeemed or exchanged prior to the Liquidation Date will be redeemed automatically at their net asset value per share on the Liquidation Date.
Dated: February 14, 2022
William Blair Funds
150 North Riverside Plaza
Chicago, Illinois 60606
Please retain this supplement for future reference.
Comments
https://www.williamblairfunds.com/funds/share_class_i/default.fs
William Blair rebooted its fixed income program. It hired Ruta Ziverte in 2019 to "develop[] and execute[] [its] fixed-income growth strategy (in conjunction with other members of the team), team leadership, and select portfolio management." (From M*). One might surmise that the company wasn't thrilled with the short term progress and decided to pull the plug on this relatively small corner of the company (no fund with over $300M AUM).
Until it was shut down in Nov. 2015 the company did have a MMF - Ready Reserves Fund (RRFXX / WBRXX). Kathleen M. Lynch, the new lead manager of WBLIX co-managed Ready Reserves from 2010 until its demise in 2015; the aforementioned Vincent was the lead manager since 2003. The fund's inception was June 22, 1988.
The Macro Allocation Fund (WMCIX / WMCNX) has been co-managed by the same two people, Singer and Clarke, since its inception in 2011. The fund does not have a manager dedicated to fixed income. Between 2011 and 2016, Singer and Clarke co-managed PMFIX (as part of a team with more senior managers).