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Fund documents

Equities
Fixed Income

Global & International

Fund	Summary Prospectus	Prospectus	Annual Report	Semi-Annual Report	SAI	Application	Fact Sheet	Fund Overview
Emerging Markets Small Cap Fund
Investor Shares (SMLNX)
R6 Shares (SMLRX)						-		-

Domestic

Fund	Summary Prospectus	Prospectus	Annual Report	Semi-Annual Report	SAI	Application	Fact Sheet	Fund Overview
North American Equity Fund
Investor Shares (SNAEX)

Fund	Summary Prospectus	Prospectus	Annual Report	Semi-Annual Report	SAI	Application	Fact Sheet	Fund Overview
Core Bond Fund
R6 Shares (SCBRX)			-	-
Long Duration Investment-Grade Bond Fund
Investor Shares (STWLX)
Short Duration Bond Fund
Investor Shares (SDBNX)
R6 Shares (SDBRX)						-		-
Total Return Fixed Income Fund
Investor Shares (SBBIX)

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Share Class Definitions: Advisor Shares are only available through a Financial Intermediary that charges an advisory fee, management fee, consulting fee, fee in lieu of brokerage commissions or other similar fee for their services for the shareholder account, provided it has an arrangement with Schroders or SFA.

Investor Shares: are generally available to direct clients of Schroders or its affiliates who meet the high investment minimum of $250,000 or investors meeting the minimum and who are clients of certain Financial Intermediaries having an arrangement with Schroders or SFA.

R6 Shares are available for purchase by eligible institutional investors, including employer sponsored retirement plans, pension plans, endowments and foundations, and eligible high net worth investors. R6 Shares are generally not available to investors who invest or hold their shares through financial intermediaries, such as clearing firms or record keepers, that expect to receive compensation from the Fund or from Schroders. The minimum initial investment for R6 Shares is $5,000,000 and there is no minimum for additional purchases of R6 Shares.

N-Q Reports The Funds file their complete schedules of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds' Form N-Q is available on the SEC's website at www.sec.gov, and may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

Please consider a fund's investment objectives, risks, charges and expenses carefully before investing. To obtain this and other information on any Schroders Fund, please click the following link: prospectuses. Read the prospectus carefully before investing. To obtain any further information call your financial advisor or call Schroder Mutual Funds at (800) 464-3108 for Individual Investors.

Schroder Investment Management North America Inc. (“SIMNA”) is an SEC registered investment adviser providing asset management products and services to clients in the US and Canada. SIMNA is an indirect wholly owned subsidiary of Schroders plc, a UK public company with shares listed on the London Stock Exchange, and is an SEC registered investment adviser providing asset management products and services to clients in the US and Canada. Schroder Fund Advisors LLC (“SFA”) is a wholly-owned subsidiary of SIMNA Inc. and is registered as a limited purpose broker-dealer with FINRA and markets certain investment vehicles for which SIMNA Inc. is an investment adviser. The Schroder mutual funds (the “Funds”) are distributed by SEI Investments Distribution Co (“SIDCO”), a member of FINRA. SFA previously served as the distributor of the Funds. Although SFA has been replaced by SIDCO as the distributor of the Funds, SFA continues to be involved in the distribution of shares of the Funds through an agreement with SIDCO, and SFA, SIMNA and their affiliates continue to provide shareholder services to the Funds. SIDCO is not an affiliate of Schroders plc.

Schroder Adveq Management US Inc. (“Schroder Adveq US” or “Schroder Adveq” herein) is registered as an investment adviser with the SEC. It provides asset management products and services to clients in the United States and Canada. Schroder Fund Advisors LLC (“SFA”) markets certain investment vehicles for which Schroder Adveq US is an investment adviser. SFA is an affiliate of Schroder Adveq US and is registered as a limited purpose broker-dealer with the Financial Industry Regulatory Authority. Schroder Adveq US is an indirect, wholly-owned subsidiary of Schroders plc. For more information, visit www.schroderadveq.com

Secquaero Advisors AG (Secquaero) is a Zurich-based investment firm in which Schroders plc has a majority ownership stake, and provides non-discretionary advice to certain strategies, including Insurance-linked securities, marketed in North America.

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