AMG GW&K Municipal Enhanced Yield N
- GWMNX
- Price as of: Jan 15, 2021
-
$10.73
N/A N/A
- Primary Theme
- High Yield Municipal Bond
- Fund Company
- AMG Funds
- Share Class
GWMNX - Snapshot
Vitals
- YTD Return 0.4%
- 3 Yr Annualized Return 5.3%
- 5 Yr Annualized Return 5.1%
- Net Assets $328 M
- Holdings in Top 10 25.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING RELATED FEES
- Expense Ratio 1.08%
SALES FEES
- Front Load N/A
- Deferred Load N/A
BROKERAGE FEES
- Turnover 40.00%
TRADING FEES
- Max Redemption Fee N/A
Min Investment
- Standard (Taxable) $2,000
- IRA $1,000
Fund Classification
-
Primary Theme
High Yield Municipal Bond
- Fund Type Open End Mutual Fund
- Investment Style High Yield Muni
GWMNX - Profile
Distributions
- YTD Total Return 0.4%
- 3 Yr Annualized Total Return 5.3%
- 5 Yr Annualized Total Return 5.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 2.56%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAMG GW&K Municipal Enhanced Yield Fund
-
Fund Family NameAMG Funds
-
Inception DateJul 27, 2009
-
Shares OutstandingN/A
-
Share ClassN
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerNancy Angell
Fund Description
The fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in U.S. dollar-denominated fixed income securities that are exempt from federal income tax. It may invest up to 35% of its total assets in unrated securities, and may invest up to 50% of its total assets in unrated securities and high yield securities.
GWMNX - Performance
Return Ranking - Trailing
Period | GWMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.4% | -0.7% | 1.3% | 86.11% |
1 Yr | 6.0% | -7.3% | 8.0% | 11.52% |
3 Yr | 5.3%* | 2.1% | 9.9% | 28.37% |
5 Yr | 5.1%* | 2.5% | 8.4% | 32.50% |
10 Yr | 6.3%* | 3.8% | 9.4% | 40.27% |
* Annualized
Return Ranking - Calendar
Period | GWMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2020 | 2.6% | -10.1% | 4.2% | 6.19% |
2019 | 7.5% | -0.7% | 11.7% | 4.88% |
2018 | -3.3% | -5.7% | 95.6% | 78.53% |
2017 | 6.6% | -0.7% | 8.6% | 3.53% |
2016 | -6.7% | -6.7% | -0.8% | 100.00% |
Total Return Ranking - Trailing
Period | GWMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.4% | -0.7% | 1.3% | 86.11% |
1 Yr | 6.0% | -7.3% | 8.0% | 9.22% |
3 Yr | 5.3%* | 1.8% | 9.9% | 24.04% |
5 Yr | 5.1%* | 2.2% | 8.4% | 28.00% |
10 Yr | 6.3%* | 3.8% | 9.4% | 36.91% |
* Annualized
Total Return Ranking - Calendar
Period | GWMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2020 | 2.6% | -10.1% | 4.2% | 6.19% |
2019 | 8.0% | -0.7% | 12.0% | 4.88% |
2018 | -0.6% | -5.7% | 4.2% | 24.61% |
2017 | 9.5% | -0.7% | 9.8% | 1.18% |
2016 | 0.1% | -6.1% | 1.1% | 5.56% |
NAV & Total Return History
GWMNX - Holdings
Concentration Analysis
GWMNX | Category Low | Category High | GWMNX % Rank | |
---|---|---|---|---|
Net Assets | 328 M | 501 K | 20 B | 72.22% |
Number of Holdings | 75 | 5 | 3457 | 93.09% |
Net Assets in Top 10 | 82.1 M | -38.2 M | 2.5 B | 63.13% |
Weighting of Top 10 | 25.00% | 4.8% | 99.9% | 11.63% |
Top 10 Holdings
- TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP REV 5% 3.35%
- WEST VIRGINIA ST HOSP FIN AUTH HOSP REV 5% 2.92%
- COLORADO HEALTH FACS AUTH REV 5% 2.69%
- NEW JERSEY ECONOMIC DEV AUTH REV 5% 2.54%
- CENTRAL PLAINS ENERGY PROJ NEB GAS PROJ REV 5% 2.48%
- CHICAGO ILL O HARE INTL ARPT REV 5% 2.46%
- CENTRAL TEX REGL MOBILITY AUTH REV 5% 2.45%
- GEISINGER AUTH PA HEALTH SYS REV 5% 2.41%
- NEW YORK TRANSN DEV CORP SPL FAC REV 5% 2.27%
- MASSACHUSETTS ST 5% 2.23%
Asset Allocation
Weighting | Return Low | Return High | GWMNX % Rank | |
---|---|---|---|---|
Bonds | 98.30% | 59.70% | 143.82% | 76.04% |
Cash | 1.70% | -0.95% | 38.20% | 21.20% |
Stocks | 0.00% | 0.00% | 2.80% | 73.73% |
Preferred Stocks | 0.00% | -43.98% | 0.00% | 68.20% |
Other | 0.00% | 0.00% | 1.72% | 74.19% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 70.05% |
Bond Sector Breakdown
Weighting | Return Low | Return High | GWMNX % Rank | |
---|---|---|---|---|
Municipal | 98.30% | 60.98% | 100.00% | 72.35% |
Cash & Equivalents | 1.70% | 0.00% | 39.02% | 24.42% |
Derivative | 0.00% | 0.00% | 0.23% | 70.05% |
Securitized | 0.00% | 0.00% | 17.71% | 70.05% |
Corporate | 0.00% | 0.00% | 12.53% | 76.50% |
Government | 0.00% | 0.00% | 0.83% | 71.43% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | GWMNX % Rank | |
---|---|---|---|---|
US | 98.30% | 59.70% | 136.78% | 20.28% |
Non US | 0.00% | 0.00% | 12.73% | 99.54% |
GWMNX - Expenses
Operational Fees
GWMNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.08% | 0.18% | 7.04% | 36.11% |
Management Fee | 0.45% | 0.00% | 1.60% | 23.50% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 54.62% |
Administrative Fee | 0.15% | 0.01% | 0.35% | 82.54% |
Sales Fees
GWMNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 4.75% | N/A |
Deferred Load | N/A | 1.00% | 5.50% | N/A |
Trading Fees
GWMNX 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.
GWMNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 40.00% | 5.10% | 314.00% | 55.56% |
GWMNX - Distributions
Dividend Yield Analysis
GWMNX | Category Low | Category High | GWMNX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 2.36% | 70.05% |
Dividend Distribution Analysis
GWMNX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
GWMNX | Category Low | Category High | GWMNX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.56% | -0.98% | 6.28% | 89.35% |
Capital Gain Distribution Analysis
GWMNX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Dividend Payout History
Date | Amount |
---|---|
Mar 27, 2019 | $0.024 |
Feb 26, 2019 | $0.021 |
Jan 29, 2019 | $0.023 |
Dec 27, 2018 | $0.025 |
Nov 28, 2018 | $0.023 |
Oct 29, 2018 | $0.024 |
Sep 26, 2018 | $0.023 |
Aug 29, 2018 | $0.023 |
Jul 27, 2018 | $0.024 |
Jun 27, 2018 | $0.022 |
May 29, 2018 | $0.024 |
Apr 26, 2018 | $0.023 |
Mar 27, 2018 | $0.021 |
Feb 26, 2018 | $0.020 |
Jan 29, 2018 | $0.022 |
Dec 27, 2017 | $0.022 |
Nov 28, 2017 | $0.021 |
Oct 27, 2017 | $0.021 |
Sep 27, 2017 | $0.021 |
Aug 29, 2017 | $0.022 |
Jul 27, 2017 | $0.023 |
Jun 28, 2017 | $0.022 |
May 26, 2017 | $0.023 |
Apr 26, 2017 | $0.023 |
Mar 29, 2017 | $0.023 |
Feb 24, 2017 | $0.020 |
Jan 27, 2017 | $0.022 |
Dec 28, 2016 | $0.023 |
Nov 28, 2016 | $0.021 |
Oct 27, 2016 | $0.020 |
Sep 28, 2016 | $0.019 |
Aug 29, 2016 | $0.020 |
Jul 27, 2016 | $0.020 |
Jun 28, 2016 | $0.021 |
May 26, 2016 | $0.020 |
Apr 27, 2016 | $0.020 |
Mar 29, 2016 | $0.023 |
Feb 25, 2016 | $0.021 |
Jan 27, 2016 | $0.024 |
Dec 29, 2015 | $0.025 |
Nov 25, 2015 | $0.023 |
Oct 28, 2015 | $0.026 |
Sep 28, 2015 | $0.024 |
Aug 27, 2015 | $0.026 |
Jul 29, 2015 | $0.025 |
Jun 26, 2015 | $0.026 |
May 27, 2015 | $0.030 |
Apr 28, 2015 | $0.026 |
Mar 27, 2015 | $0.024 |
Feb 25, 2015 | $0.023 |
Jan 28, 2015 | $0.026 |
Dec 29, 2014 | $0.028 |
Nov 25, 2014 | $0.027 |
Oct 29, 2014 | $0.027 |
Sep 26, 2014 | $0.028 |
Aug 27, 2014 | $0.028 |
Jul 29, 2014 | $0.028 |
Jun 26, 2014 | $0.030 |
May 28, 2014 | $0.030 |
Apr 28, 2014 | $0.030 |
Mar 27, 2014 | $0.027 |
Feb 26, 2014 | $0.027 |
Jan 29, 2014 | $0.029 |
Dec 27, 2013 | $0.032 |
Nov 26, 2013 | $0.028 |
Oct 29, 2013 | $0.028 |
Sep 26, 2013 | $0.027 |
Aug 28, 2013 | $0.033 |
Jul 29, 2013 | $0.032 |
Jun 26, 2013 | $0.031 |
May 29, 2013 | $0.031 |
Apr 26, 2013 | $0.030 |
Mar 26, 2013 | $0.029 |
Feb 26, 2013 | $0.027 |
Jan 29, 2013 | $0.028 |
Dec 27, 2012 | $0.031 |
Nov 28, 2012 | $0.028 |
Oct 29, 2012 | $0.031 |
Sep 26, 2012 | $0.030 |
Aug 29, 2012 | $0.030 |
Jul 27, 2012 | $0.031 |
Jun 27, 2012 | $0.031 |
May 29, 2012 | $0.031 |
Apr 26, 2012 | $0.030 |
Mar 28, 2012 | $0.033 |
Feb 27, 2012 | $0.026 |
Jan 27, 2012 | $0.028 |
Nov 28, 2011 | $0.027 |
Oct 27, 2011 | $0.029 |
Sep 28, 2011 | $0.030 |
Aug 29, 2011 | $0.032 |
Jul 27, 2011 | $0.032 |
Jun 28, 2011 | $0.030 |
May 26, 2011 | $0.033 |
Apr 27, 2011 | $0.032 |
Mar 29, 2011 | $0.032 |
Feb 24, 2011 | $0.033 |
Jan 27, 2011 | $0.033 |
Dec 29, 2010 | $0.032 |
Nov 26, 2010 | $0.031 |
Oct 27, 2010 | $0.030 |
Sep 28, 2010 | $0.030 |
Aug 27, 2010 | $0.033 |
Jul 28, 2010 | $0.031 |
Jun 28, 2010 | $0.035 |
May 26, 2010 | $0.032 |
Apr 28, 2010 | $0.032 |
Mar 29, 2010 | $0.028 |
Feb 24, 2010 | $0.026 |
Jan 27, 2010 | $0.023 |
Dec 29, 2009 | $0.035 |
Nov 25, 2009 | $0.038 |
Oct 28, 2009 | $0.034 |
Sep 28, 2009 | $0.031 |
Aug 27, 2009 | $0.031 |
Jul 29, 2009 | $0.030 |
GWMNX - Fund Manager Analysis
Managers
Nancy Angell
Start Date
Tenure
Tenure Rank
Dec 30, 2005
15.01
15.0%
Nancy began her career at GW&K in 1984 and quickly became an integral member of the firm’s Municipal Bond team. She was appointed Co-Director of Fixed Income in 2001, responsible for overseeing all aspects of our management of fixed income assets, including portfolio management, research, and trading. Nancy continues in her role as portfolio manager for all of the firm’s municipal bond strategies. Nancy is a member of the firm’s Management, Investment and ESG Committees. Nancy graduated cum laude from Duke University in 1983 where she received an AB in Economics, and received her MBA with high honors in Finance from Boston University in 1989. She is a member of the CFA Institute, the CFA Society Boston, the Boston Municipal Analysts Forum and the National Federation of Municipal Analysts. Nancy sits on the Advisory Committee of Challenge Unlimited at Ironstone Farm.
Martin Tourigny
Start Date
Tenure
Tenure Rank
Dec 30, 2005
15.01
15.0%
Marty is a senior member of the Municipal Bond team at GW&K responsible for portfolio management. He is also a member of the firm’s Investment and Management Committees. Prior to joining GW&K in 1994, he was employed by Mutual Fund Services Company as a Senior Fund Accountant. Marty received his BA in Economics from Boston College in 1991, and Masters in International Economics from Suffolk University in 2002. He is a CFA charterholder and is a member of the CFA Institute, the CFA Society Boston, the Boston Security Analysts Society, the Boston Municipal Analysts Forum and the National Federation of Municipal Analysts.
John Fox
Start Date
Tenure
Tenure Rank
Dec 30, 2005
15.01
15.0%
John joined GW&K as a member of our Municipal Bond team in 1990 after graduating college and was promoted to portfolio manager in 1995. John was appointed Co-Director of Fixed Income in 2001, responsible for overseeing all aspects of our fixed income operation, including portfolio management, research, and trading. John continues in his role as portfolio manager for all of the firm’s municipal bond strategies. John is a partner in the firm and is also a member of the firm’s Management Committee and Investment Committee. John received a BA in Economics from Boston College and an MBA from Boston University. He is a CFA charterholder and is a member of the CFA Institute, the CFA Society Boston, the Boston Municipal Analysts Forum and the National Federation of Municipal Analysts.
Brian Moreland
Start Date
Tenure
Tenure Rank
Oct 31, 2006
14.18
14.2%
Brian is a Portfolio Manager on the Municipal Bond team and is also a member of the firm’s Investment Committee. Prior to joining GW&K in 1998 as an Operations Specialist, he was employed by First Data Corporation as a Senior Fund Accountant. Brian received his BS in Finance from Boston College in 1997. He earned the CFA designation, is a member of the Boston Municipal Analysts Forum, the National Federation of Municipal Analysts and the CFA Institute.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.16 | 22.77 | 7.14 | 1.11 |