Filed pursuant to 497(e)

File Nos. 033-43089 and 811-06431

AMG FUNDS II

AMG GW&K Enhanced Core Bond ESG Fund

Supplement dated December 4, 2020 to the Prospectus and Statement of Additional Information,

each dated May 1, 2020

The following information supplements and supersedes any information to the contrary relating to AMG GW&K Enhanced Core Bond ESG Fund (the “Fund”), a series of AMG Funds II, contained in the Fund’s Prospectus (the “Prospectus”) and Statement of Additional Information (the “SAI”), dated as noted above.

Effective immediately, Stephen J. Repoff, CFA serves as a portfolio manager of the Fund. Mary F. Kane, CFA and Stephen J. Repoff, CFA are jointly and primarily responsible for the day-to-day management of the Fund. Accordingly, all references in the Prospectus and SAI to the portfolio managers of the Fund shall refer to Ms. Kane and Mr. Repoff.

In addition, effective immediately, the Prospectus is revised as follows:

The section under “Summary of the Fund – AMG GW&K Enhanced Core Bond ESG Fund” titled “Portfolio Management – Portfolio Manager” on page 6 is deleted and replaced with the following:

Portfolio Managers

Mary F. Kane, CFA

Partner and Portfolio Manager of GW&K;

Portfolio Manager of the Fund since 11/12.

Stephen J. Repoff, CFA

Principal and Portfolio Manager of GW&K;

Portfolio Manager of the Fund since 12/20.

The sixth paragraph in the “Additional Information About the Fund – Fund Management” section on page 13 is deleted and replaced with the following:

GW&K manages the entire Fund and has served as the Subadviser to the Fund since November 2012. GW&K, located at 222 Berkeley Street, Boston, Massachusetts 02116, has advised individual and institutional clients since 1974 and, as of September 30, 2020, had assets under management of approximately $47 billion. AMG indirectly owns a majority interest in GW&K. Mary F. Kane, CFA and Stephen J. Repoff, CFA are the portfolio managers jointly and primarily responsible for the day-to-day management of the Fund. Ms. Kane joined GW&K in 2005. She is a Partner and Portfolio Manager of GW&K, and has served in those positions since 2011 and 2005, respectively. Mr. Repoff joined GW&K in 2013 and is a Principal and Portfolio Manager.

In addition, effective immediately, the SAI is revised as follows:

In the section under “Management of the Fund – Portfolio Managers of the Fund – AMG GW&K Enhanced Core Bond ESG Fund” titled “Other Accounts Managed by the Portfolio Manager” on page 58, the following information is added for Mr. Repoff, which is as of September 30, 2020:

 

Portfolio Manager: Stephen J. Repoff, CFA
Type of Account		Number of Accounts Managed				Total Assets Managed ($ millions)				Number of Accounts Managed For Which Advisory Fee is Performance Based				Assets Managed For Which Advisory Fee is Performance Based ($ millions)
Registered Investment Companies			None			$	0				None			$	0
Other Pooled Investment Vehicles			None			$	0				None			$	0
Other Accounts			7,101			$	4,685				None			$	0

In the section under “Management of the Fund – Portfolio Managers of the Fund – AMG GW&K Enhanced Core Bond ESG Fund” titled “Portfolio Manager’s Ownership of Fund Shares” on page 59, the following information is added for Mr. Repoff, which is as of September 30, 2020:

Portfolio Manager Ownership of Fund Shares

Mr. Repoff: None

PLEASE KEEP THIS SUPPLEMENT FOR FUTURE REFERENCE