*The expense ratios for the GQG Partners Emerging Markets Equity Fund are 0.98% (net) and 0.98% (gross). The adviser has contractually agreed to waive fees until July 31, 2025.

The performance data quoted above represent past performance and do not guarantee future results. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling +1 (866) 362-8333. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Returns greater than one year are annualized. Performance may reflect agreements to limit the Fund’s expenses, which would further reduce performance if not in effect. The Fund’s other share classes may have different performance characteristics.

You should carefully consider the investment objective, risks, charges, and expenses of the Fund before investing. The Fund’s prospectus and summary prospectus contain this and other important information about the Fund, which can be obtained by dialing +1 (866) 362-8333 or visiting gqg.com. Please read the prospectus carefully before investing. The Fund’s Statement of Additional Information can also be obtained by dialing +1 (866) 362 8333 or visiting gqg.com.

Understanding Investment Risk

Investing involves risks, including loss of principal. There is no guarantee the Fund will achieve its stated objective. International investments may involve the risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or social, economic, or political instability in other nations. Emerging markets involve heightened risks related to the same factors, as well as increased volatility and lower trading volume. The Fund is non-diversified. In addition to the normal risks associated with investing, investments in small-and mid-size companies may be more volatile and less liquid than those of large companies. Investments in commodities are subject to higher volatility than more traditional investments. Trading in China through Stock Connect is subject to a number of restrictions that may affect the Fund’s investments and returns, including a daily quota that limits the maximum net purchase under the Stock Connect each day.

SEI Investment Distribution Co. (SIDCO) is the distributor for GQG Partners Emerging Markets Equity Fund. SIDCO is not affiliated with GQG Partners. Check the background of SIDCo on FINRA’s BrokerCheck.

¹Source: Bloomberg. Total volume computed based on each security’s primary listing. Calculations may not reflect all trading volume inclusive of non-primary listings for the given security. For calendar year 2023, we estimate the full-year trading volume by annualizing the trading volume realized from January 1, 2023 through November 30, 2023. Actual results may differ from any projections illustrated above.

BENCHMARK INFORMATION

MSCI benchmark returns have been obtained from MSCI, a non-affiliated third-party source. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing, or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

The MSCI Emerging Markets (Net) Index captures large and mid cap representation across 24 Emerging Markets (EM) countries. With 1,375 constituents, the index covers approximately 85% of the free float-adjusted market capitalization in each country. * EM countries include Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.