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Name

As of 04/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

AMG Veritas Global Real Return Fund

BLUEX | Fund

$36.92

$115 M

0.03%

$0.01

1.22%

Vitals

YTD Return

2.5%

1 yr return

8.6%

3 Yr Avg Return

-0.4%

5 Yr Avg Return

3.9%

Net Assets

$115 M

Holdings in Top 10

50.0%

52 WEEK LOW AND HIGH

$37.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.22%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 235.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,000

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

AMG Veritas Global Real Return Fund

BLUEX | Fund

$36.92

$115 M

0.03%

$0.01

1.22%

BLUEX - Profile

Distributions

  • YTD Total Return 2.5%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.42%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    AMG Veritas Global Real Return Fund
  • Fund Family Name
    AMGFUNDSGR
  • Inception Date
    Sep 30, 2013
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Andrew Headley

Fund Description

The Fund seeks to achieve its investment objective by investing in global equities and derivatives.
The Fund primarily invests in equity securities listed or traded on exchanges. The Fund intends to invest primarily in developed markets and economies, although it may invest in emerging markets. The Fund may invest up to 25% of its net assets in emerging market countries.
The Fund intends to invest in long positions to achieve long term capital growth and overlay short positions, primarily in index futures, to seek to preserve capital. The Fund seeks to achieve real return, which the Fund considers to be a return on a compounded annualized basis exceeding inflation. Inflation is measured by the return of the Bloomberg US Treasury Inflation-Linked Bond Index. By investing long and short, the Fund will employ leverage, principally through the use of derivative positions. The Fund will take focused equity positions identified via the analysis of Veritas Asset Management LLP, the subadviser to the Fund (“Veritas” or the “Subadviser”). Veritas’ analysis will focus on identifying long term themes and trends and then proceed to identifying companies within those identified themes and trends that it believes have sound business models, strong management and disciplined financial controls. The themes and trends are identified with an emphasis on in-house research, although external research is also used.
Under normal circumstances, the Fund invests at least 35% (or if conditions are not favorable, in the view of Veritas, at least 25%) of its net assets in investments economically tied to
countries other than the U.S., and the Fund will hold investments economically tied to a minimum of three countries other than the U.S. The Fund considers an investment to be economically tied to a country other than the U.S. if it provides investment exposure to a non-U.S. issuer. The Fund considers a company to be a non-U.S. issuer if (i) it is organized outside the U.S. or maintains a principal place of business outside the U.S., (ii) its securities are traded principally outside the U.S., or (iii) during its most recent fiscal year, it derived at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed outside the U.S. or it has at least 50% of its assets outside the U.S. The Fund may invest in securities of issuers located in any country outside the U.S., including developed and emerging market countries.
The Fund will generally invest in mid- to large-capitalization companies, although the Fund may also invest in small-capitalization companies. The Fund generally invests in companies with market capitalizations greater than $5 billion. The Fund currently expects to hold between 25 and 40 positions at any time. The Fund is non-diversified.
Long positions will generally be held through direct investments. The Fund may also gain desired exposures through investments in exchange-traded funds (“ETFs”). The Fund generally expects to take short positions in index futures to seek to preserve capital. The Fund may also hold short positions in options or ETFs. It is anticipated that the Fund’s net market exposure can range from 25% to 100%, meaning that the Fund may hold up to 100% of its net asset value in long positions and up to 75% of its net asset value in short positions.
The Fund may hold assets in cash and cash equivalents, and at times these holdings may be significant. The Fund’s cash level at any point typically relates to the Subadviser’s individual security selection process, and therefore may vary, depending on the Subadviser’s desired security weightings. The Fund’s cash and cash equivalent holdings may serve as collateral for the Fund’s derivatives positions.
Read More

BLUEX - Performance

Return Ranking - Trailing

Period BLUEX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -17.6% 19.3% 91.49%
1 Yr 8.6% -19.9% 65.1% 98.96%
3 Yr -0.4%* -30.8% 22.1% 86.60%
5 Yr 3.9%* -16.0% 27.9% 97.82%
10 Yr 8.2%* -5.6% 18.6% 95.54%

* Annualized

Return Ranking - Calendar

Period BLUEX Return Category Return Low Category Return High Rank in Category (%)
2023 14.3% -74.1% 72.4% 92.99%
2022 -23.3% -85.9% 4.7% 8.96%
2021 -19.4% -52.4% 60.5% 96.27%
2020 7.2% -34.3% 145.0% 97.33%
2019 18.7% -21.8% 49.4% 82.24%

Total Return Ranking - Trailing

Period BLUEX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -17.6% 19.3% 91.49%
1 Yr 8.6% -19.9% 65.1% 98.96%
3 Yr -0.4%* -30.8% 22.1% 86.60%
5 Yr 3.9%* -16.0% 27.9% 97.82%
10 Yr 8.2%* -5.6% 18.6% 95.54%

* Annualized

Total Return Ranking - Calendar

Period BLUEX Return Category Return Low Category Return High Rank in Category (%)
2023 14.3% -4.6% 72.4% 97.75%
2022 -14.2% -61.7% 5.6% 2.11%
2021 -19.2% -39.8% 118.1% 99.91%
2020 34.6% 2.8% 149.2% 50.51%
2019 35.2% -5.2% 49.4% 31.95%

NAV & Total Return History

BLUEX - Holdings

Concentration Analysis

BLUEX Category Low Category High BLUEX % Rank
Net Assets 115 M 242 K 269 B 86.97%
Number of Holdings 32 1 3217 88.62%
Net Assets in Top 10 56.5 M 104 K 111 B 85.06%
Weighting of Top 10 50.01% 0.7% 205.0% 47.91%

Top 10 Holdings

  1. Airbus SE 5.84%
  2. Alphabet Inc 5.71%
  3. Amazon.com Inc 5.49%
  4. Vinci SA 5.15%
  5. Diageo PLC 5.02%
  6. Canadian Pacific Kansas City Ltd 4.91%
  7. Intercontinental Exchange Inc 4.61%
  8. Mastercard Inc 4.53%
  9. Fiserv Inc 4.43%
  10. Thermo Fisher Scientific Inc 4.32%

Asset Allocation

Weighting Return Low Return High BLUEX % Rank
Stocks 		98.27% 0.00% 130.05% 61.12%
Cash 		2.26% -1.50% 173.52% 26.15%
Preferred Stocks 		0.00% 0.00% 7.84% 99.15%
Convertible Bonds 		0.00% 0.00% 1.94% 99.15%
Bonds 		0.00% 0.00% 104.15% 99.24%
Other 		-0.53% -43.49% 50.04% 99.15%

Stock Sector Breakdown

Weighting Return Low Return High BLUEX % Rank
Healthcare 		31.71% 0.00% 39.76% 0.34%
Industrials 		23.93% 0.00% 30.65% 0.60%
Communication Services 		17.37% 0.00% 66.40% 7.40%
Technology 		7.84% 0.00% 65.70% 98.21%
Financial Services 		5.76% 0.00% 43.06% 82.57%
Consumer Defense 		4.62% 0.00% 25.50% 36.31%
Consumer Cyclical 		3.91% 0.00% 62.57% 97.36%
Basic Materials 		2.92% 0.00% 18.91% 18.11%
Real Estate 		1.93% 0.00% 16.05% 31.12%
Utilities 		0.00% 0.00% 16.07% 99.74%
Energy 		0.00% 0.00% 41.09% 99.91%

Stock Geographic Breakdown

Weighting Return Low Return High BLUEX % Rank
US 		67.80% 0.00% 130.05% 98.22%
Non US 		30.47% 0.00% 78.10% 0.93%

BLUEX - Expenses

Operational Fees

BLUEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.22% 0.01% 19.54% 30.89%
Management Fee 0.88% 0.00% 1.50% 92.50%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 1.02% 79.78%

Sales Fees

BLUEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 8.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BLUEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

BLUEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 235.00% 0.00% 316.74% 99.62%

BLUEX - Distributions

Dividend Yield Analysis

BLUEX Category Low Category High BLUEX % Rank
Dividend Yield 0.03% 0.00% 28.33% 41.84%

Dividend Distribution Analysis

BLUEX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annual

Net Income Ratio Analysis

BLUEX Category Low Category High BLUEX % Rank
Net Income Ratio -0.42% -6.13% 3.48% 58.75%

Capital Gain Distribution Analysis

BLUEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

BLUEX - Fund Manager Analysis

Managers

Andrew Headley

Start Date

Tenure

Tenure Rank

Mar 19, 2021

1.2

1.2%

Director, Fund Manager and Head of Global Research. Director of Veritas Asset Management (UK) Limited and Fund Manager of the Real Return Global Fund and Veritas Global Focus Fund. Joined The Real Return Group in 2003. Analyst and Portfolio Manager WP Stewart 2001 to 2003. Analyst and Portfolio Manager Newton Investment Management 1996 to 2001. Tax Consultant, Price Waterhouse 1993 to 1996. Education: Chartered Accountant, BSc, ASIP.

Mike Moore

Start Date

Tenure

Tenure Rank

Mar 19, 2021

1.2

1.2%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 54.45 8.22 3.08

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