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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 Focus Fund

MFQAX | Fund

$17.27

$31.6 M

0.09%

$0.02

1.47%

Vitals

YTD Return

4.2%

1 yr return

14.3%

3 Yr Avg Return

1.6%

5 Yr Avg Return

7.4%

Net Assets

$31.6 M

Holdings in Top 10

50.8%

52 WEEK LOW AND HIGH

$17.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.47%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 109.00%

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 Focus Fund

MFQAX | Fund

$17.27

$31.6 M

0.09%

$0.02

1.47%

MFQAX - Profile

Distributions

  • YTD Total Return 4.2%
  • 3 Yr Annualized Total Return 1.6%
  • 5 Yr Annualized Total Return 7.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.17%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    AMG Veritas Global Focus Fund
  • Fund Family Name
    AMGFUNDSGR
  • Inception Date
    Jun 06, 2014
  • Shares Outstanding
    N/A
  • Share Class
    N
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mike Moore

Fund Description

The Fund intends to invest in equity securities of a relatively select group of global companies, identified through a bottom up stock picking approach with certain strategic themes identified by Veritas Asset Management LLP, the subadviser to the Fund (“Veritas” or the “Subadviser”). The Subadviser seeks to identify and invest in businesses at reasonable valuations. The Subadviser seeks to identify industry leaders in relatively stable industries where there is greater visibility of sustainable earnings and recurring revenues, but equity investments must generally satisfy a number of demanding valuation criteria, with particular attention paid to the level of free cash flow generation from the business.
The Fund will take focused equity positions identified via the analysis of the Subadviser, which will focus on identifying long term themes and trends and then proceed to identifying companies within those 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.
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. The Fund is non-diversified.
Additionally, 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 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.
Read More

MFQAX - Performance

Return Ranking - Trailing

Period MFQAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.2% -39.2% 19.3% 80.40%
1 Yr 14.3% -24.8% 65.1% 97.76%
3 Yr 1.6%* -30.8% 22.0% 75.40%
5 Yr 7.4%* -16.0% 28.0% 93.83%
10 Yr N/A* -5.5% 18.8% 91.85%

* Annualized

Return Ranking - Calendar

Period MFQAX Return Category Return Low Category Return High Rank in Category (%)
2023 19.8% -74.1% 72.4% 85.03%
2022 -25.2% -85.9% 4.7% 13.52%
2021 -52.4% -52.4% 60.5% 100.00%
2020 6.6% -34.3% 145.0% 97.61%
2019 27.4% -21.8% 49.4% 35.71%

Total Return Ranking - Trailing

Period MFQAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.2% -39.2% 19.3% 80.40%
1 Yr 14.3% -24.8% 65.1% 97.76%
3 Yr 1.6%* -30.8% 22.0% 75.40%
5 Yr 7.4%* -16.0% 28.0% 93.83%
10 Yr N/A* -5.5% 18.8% 91.37%

* Annualized

Total Return Ranking - Calendar

Period MFQAX Return Category Return Low Category Return High Rank in Category (%)
2023 22.5% -4.6% 72.4% 90.66%
2022 -21.1% -61.7% 5.6% 14.05%
2021 16.9% -39.8% 118.1% 74.69%
2020 8.2% 2.8% 149.2% 99.54%
2019 27.8% -5.2% 49.4% 89.19%

NAV & Total Return History

MFQAX - Holdings

Concentration Analysis

MFQAX Category Low Category High MFQAX % Rank
Net Assets 31.6 M 242 K 269 B 95.43%
Number of Holdings 29 1 3217 92.44%
Net Assets in Top 10 15.7 M 104 K 111 B 95.08%
Weighting of Top 10 50.81% 0.7% 205.0% 44.00%

Top 10 Holdings

  1. MASTERCARD INC - A 5.79%
  2. Airbus SE 5.49%
  3. ALPHABET INC-CL A 5.41%
  4. Amazon.com Inc 5.38%
  5. Canadian Pacific Kansas City Ltd 5.21%
  6. Vinci SA 5.12%
  7. Diageo PLC 4.95%
  8. Fiserv Inc 4.59%
  9. Intercontinental Exchange Inc 4.53%
  10. Thermo Fisher Scientific Inc 4.34%

Asset Allocation

Weighting Return Low Return High MFQAX % Rank
Stocks 		99.26% 0.00% 130.05% 34.30%
Cash 		0.81% -1.50% 173.52% 60.61%
Preferred Stocks 		0.00% 0.00% 7.84% 42.28%
Other 		0.00% -43.49% 50.04% 46.94%
Convertible Bonds 		0.00% 0.00% 1.94% 33.16%
Bonds 		0.00% 0.00% 104.15% 36.33%

Stock Sector Breakdown

Weighting Return Low Return High MFQAX % Rank
Healthcare 		33.41% 0.00% 39.76% 0.17%
Industrials 		24.92% 0.00% 30.65% 0.34%
Communication Services 		17.12% 0.00% 66.40% 7.48%
Technology 		7.83% 0.00% 65.70% 98.30%
Financial Services 		6.14% 0.00% 43.06% 78.23%
Consumer Defense 		4.83% 0.00% 25.50% 34.35%
Consumer Cyclical 		3.87% 0.00% 62.57% 97.45%
Real Estate 		1.87% 0.00% 16.05% 31.80%
Utilities 		0.00% 0.00% 16.07% 52.21%
Energy 		0.00% 0.00% 41.09% 67.01%
Basic Materials 		0.00% 0.00% 18.91% 80.87%

Stock Geographic Breakdown

Weighting Return Low Return High MFQAX % Rank
US 		67.75% 0.00% 130.05% 98.30%
Non US 		31.51% 0.00% 78.10% 0.68%

MFQAX - Expenses

Operational Fees

MFQAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.47% 0.01% 19.54% 19.57%
Management Fee 0.67% 0.00% 1.50% 63.60%
12b-1 Fee 0.25% 0.00% 1.00% 36.53%
Administrative Fee 0.15% 0.01% 1.02% 70.89%

Sales Fees

MFQAX 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

MFQAX 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.

MFQAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 109.00% 0.00% 316.74% 90.99%

MFQAX - Distributions

Dividend Yield Analysis

MFQAX Category Low Category High MFQAX % Rank
Dividend Yield 0.09% 0.00% 27.99% 19.22%

Dividend Distribution Analysis

MFQAX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

MFQAX Category Low Category High MFQAX % Rank
Net Income Ratio -0.17% -6.13% 3.48% 37.44%

Capital Gain Distribution Analysis

MFQAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

MFQAX - Fund Manager Analysis

Managers

Mike Moore

Start Date

Tenure

Tenure Rank

May 21, 2021

1.03

1.0%

Andrew Headley

Start Date

Tenure

Tenure Rank

May 21, 2021

1.03

1.0%

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.

Tenure Analysis

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

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