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Trending ETFs

Name

As of 02/08/2024

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

$11.84

$33.1 M

1.75%

$0.21

1.07%

Vitals

YTD Return

0.6%

1 yr return

0.8%

3 Yr Avg Return

-5.8%

5 Yr Avg Return

3.1%

Net Assets

$33.1 M

Holdings in Top 10

24.0%

52 WEEK LOW AND HIGH

$11.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.07%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 36.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

$25,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 02/08/2024

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

$11.84

$33.1 M

1.75%

$0.21

1.07%

MBESX - Profile

Distributions

  • YTD Total Return 0.6%
  • 3 Yr Annualized Total Return -5.8%
  • 5 Yr Annualized Total Return 3.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.06%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    AMG GW&K Global Allocation Fund
  • Fund Family Name
    AMGFUNDSGR
  • Inception Date
    Nov 30, 2012
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Daniel Miller

Fund Description

Under normal circumstances, the Fund will generally invest 55-70% of its net assets in equity securities and invest the remainder of its assets in fixed income securities, cash and cash equivalents. GW&K Investment Management, LLC (“GW&K” or the “Subadviser”) takes an active approach to managing global equity and fixed income investments and seeks to manage risk through diversification, in-depth research and a focus on quality. 
The equity portion of the Fund is invested primarily in a diversifiedportfolio of global equity securities, including common and preferred stocks, convertible securities, exchange-traded funds (“ETFs”), American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”) and other depositary receipts of non-U.S. listed companies. The equity portion of the Fund may be invested across regions, including in developed and emerging markets, market capitalization ranges, investment styles and sectors. The Fund may invest in companies of any size. With respect to equities, GW&K believes that earnings growth combined with high returns on capital can lead to attractive returns over the long term. GW&K’s fundamental research process analyzes a company’s market positioning, growth profile,  
financial strength, management team strength and valuation. GW&K seeks to construct a focused portfolio of equity securities issued by companies that GW&K believes are growing and competitively advantaged and that generate sustainable earnings growth and return on capital. 
Under normal circumstances, the Fund will generally invest 30-45% of its net assets in fixed income securities (including cash and cash equivalents). The fixed income portion of the Fund may invest in a wide range of domestic and foreign fixed income securities, including securities issued by any of the following: public and private companies; the U.S. government and its agencies, such as the Federal Home Loan Bank; state and local governments issuing taxable municipal securities; and foreign governments, their agencies and instrumentalities, including issuers in emerging markets. The Fund may also invest in asset-backed and mortgage-backed debt securities, including agency mortgage-backed securities. The fixed income portion of the Fund may include non-U.S. dollar denominated fixed income securities as well fixed income securities payable in U.S. dollars that are issued in the United States by foreign banks and corporations. With respect to fixed income, GW&K actively manages the portfolio across multiple fixed income sectors in order to take advantage of what GW&K believes are relative value opportunities in changing market conditions. GW&K seeks quality in the fixed income sectors in which the Fund invests, including with respect to high yield investments. GW&K’s investment process involves fundamental credit research and GW&K’s analysis of how the Fund’s potential investments are affected by material environmental, social and governance (“ESG”) factors. In selecting potential fixed-income investments for the Fund, GW&K uses top-down research that focuses on managing duration, sector allocation, credit quality and yield curve, as well as bottom-up research that focuses on fundamental analysis, valuation analysis, technical analysis, and ESG factor analysis. 
Based on GW&K’s investment outlook, the Fund may invest up to 30% of its net assets in below-investment grade securities (commonly known as “junk bonds” or “high yield securities”) that GW&K believes do not involve undue risk to income or principal. Below investment grade securities are rated below Baa3 by Moody’s Investors Service, Inc. (“Moody’s”) or below BBB- by S&P Global Ratings (“S&P”) or similarly rated by another nationally recognized statistical rating organization, or unrated but determined by GW&K to be of comparable credit quality. While the Fund may invest in below-investment grade securities of any credit quality, the Fund generally seeks to invest in securities with higher credit ratings within the below-investment grade category. In cases where the credit ratings agencies have assigned different credit ratings to the same security, the security will be considered to have the higher credit rating. The Fund may continue to hold securities that are downgraded in credit rating subsequent to their purchase if GW&K believes it would be advantageous to do so. Incorporating fundamental credit and market analysis, GW&K typically invests the Fund’s assets in bonds with 1- to 30- year maturities. 
Under normal circumstances, the Fund will invest at least 35% 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. If, in the view of GW&K, market conditions are not favorable, the Fund may invest less than 35% of its net assets in investments economically tied to countries other than the U.S. The Fund considers a company to be 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. To gain exposure to foreign issuers, the Fund may invest in ETFs. 
GW&K has significant flexibility to adjust the Fund’s asset allocation. Under normal circumstances, it is not expected that the Fund will be above or below its anticipated normal allocation range of 55-70% in equities and 30-45% in fixed income securities by more than 10%. The Fund may invest more than 70% of its net assets in equities if GW&K considers conditions in the stock market to be more favorable than those in the bond market. In addition, the Fund may invest more than 45% of its net assets in fixed income securities and cash or cash equivalents, or other securities or instruments that GW&K considers less risky, with less than 55% of the Fund’s net assets invested in equities if GW&K considers conditions in the bond market to be more favorable than those in the stock market. 
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MBESX - Performance

Return Ranking - Trailing

Period MBESX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -23.7% 16.4% 97.21%
1 Yr 0.8% -8.9% 48.3% 99.57%
3 Yr -5.8%* -2.2% 16.4% 81.51%
5 Yr 3.1%* -0.7% 13.4% 53.27%
10 Yr 4.9%* 0.9% 11.8% 15.04%

* Annualized

Return Ranking - Calendar

Period MBESX Return Category Return Low Category Return High Rank in Category (%)
2023 -16.8% -40.8% 20.6% 72.73%
2022 -28.4% -21.0% 24.5% 2.96%
2021 0.2% -24.2% 27.8% 74.77%
2020 14.5% -23.1% 11.7% 21.89%
2019 10.4% -100.0% 20.6% 44.14%

Total Return Ranking - Trailing

Period MBESX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -23.7% 16.4% 97.21%
1 Yr 0.8% -12.8% 48.3% 98.09%
3 Yr -5.8%* -3.4% 16.4% 77.29%
5 Yr 3.1%* -1.1% 13.4% 48.51%
10 Yr 4.9%* 0.9% 11.8% 14.09%

* Annualized

Total Return Ranking - Calendar

Period MBESX Return Category Return Low Category Return High Rank in Category (%)
2023 5.5% -40.8% 20.6% 72.73%
2022 -19.9% -21.0% 24.5% 2.96%
2021 2.6% -24.2% 27.8% 76.17%
2020 19.1% -23.1% 11.7% 1.99%
2019 17.2% -2.9% 23.1% 28.88%

NAV & Total Return History


MBESX - Holdings

Concentration Analysis

MBESX Category Low Category High MBESX % Rank
Net Assets 33.1 M 1.12 M 110 B 79.91%
Number of Holdings 140 2 10961 62.63%
Net Assets in Top 10 7.96 M -31.7 M 22 B 79.12%
Weighting of Top 10 24.03% 10.8% 100.0% 67.18%

Top 10 Holdings

  1. ALPHABET INC-CL A 2.88%
  2. Hess Corp 2.69%
  3. UnitedHealth Group Inc 2.51%
  4. Microsoft Corp 2.46%
  5. STERIS PLC 2.44%
  6. MakeMyTrip Ltd 2.31%
  7. MASTERCARD INC - A 2.27%
  8. AMAZON.COM INC 2.27%
  9. Infineon Technologies AG 2.13%
  10. BETHESDA SECURITIES 2.07%

Asset Allocation

Weighting Return Low Return High MBESX % Rank
Stocks
59.50% -45.72% 98.42% 43.22%
Bonds
37.54% -39.76% 93.84% 33.40%
Other
4.13% -1.25% 197.12% 72.03%
Preferred Stocks
0.00% -0.03% 14.00% 68.68%
Convertible Bonds
0.00% 0.00% 25.49% 78.29%
Cash
0.00% -97.12% 185.58% 44.47%

Stock Sector Breakdown

Weighting Return Low Return High MBESX % Rank
Consumer Cyclical
21.13% 0.00% 20.84% 1.27%
Financial Services
16.67% 0.00% 30.34% 32.27%
Technology
15.99% 0.00% 39.48% 54.56%
Healthcare
12.19% 0.00% 30.30% 40.34%
Industrials
10.22% 0.09% 32.39% 42.89%
Communication Services
6.92% 0.00% 28.59% 11.89%
Energy
6.64% 0.00% 38.61% 47.77%
Real Estate
3.61% 0.00% 90.14% 58.60%
Basic Materials
3.33% 0.00% 60.23% 86.62%
Utilities
3.30% 0.00% 40.29% 43.31%
Consumer Defense
0.00% 0.00% 31.85% 96.18%

Stock Geographic Breakdown

Weighting Return Low Return High MBESX % Rank
US
37.61% -4.82% 95.75% 40.92%
Non US
21.89% -46.69% 57.06% 48.43%

Bond Sector Breakdown

Weighting Return Low Return High MBESX % Rank
Government
42.25% 0.00% 98.64% 35.49%
Corporate
22.16% 0.00% 99.90% 50.52%
Securitized
14.20% 0.00% 83.28% 29.65%
Municipal
2.91% 0.00% 31.28% 3.55%
Derivative
0.00% 0.00% 41.88% 49.90%
Cash & Equivalents
0.00% 0.10% 100.00% 54.70%

Bond Geographic Breakdown

Weighting Return Low Return High MBESX % Rank
US
37.54% -177.12% 87.76% 27.35%
Non US
0.00% -39.00% 137.36% 35.70%

MBESX - Expenses

Operational Fees

MBESX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.07% 0.16% 2.71% 63.47%
Management Fee 0.60% 0.00% 1.70% 39.83%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.70% 67.37%

Sales Fees

MBESX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

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

MBESX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 36.00% 0.00% 441.00% 22.01%

MBESX - Distributions

Dividend Yield Analysis

MBESX Category Low Category High MBESX % Rank
Dividend Yield 1.75% 0.00% 10.92% 29.73%

Dividend Distribution Analysis

MBESX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Monthly

Net Income Ratio Analysis

MBESX Category Low Category High MBESX % Rank
Net Income Ratio -0.06% -5.20% 6.33% 93.25%

Capital Gain Distribution Analysis

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

Distributions History

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MBESX - Fund Manager Analysis

Managers

Daniel Miller


Start Date

Tenure

Tenure Rank

Apr 17, 2020

2.12

2.1%

Dan is responsible for overseeing all aspects of our Equity teams, including portfolio management, research, and trading. He also is a member of the firm’s Management, Investment and ESG Committees. Dan brings more than three decades of industry experience to GW&K. Prior to joining the firm, Dan worked with various companies in the Boston area as an Investment and Financial Consultant. Previously he spent 21 years at Putnam Investments in Boston, where he was Chief Investment Officer for the Specialty Growth Group overseeing a team of twenty and up to $100 billion in assets under management. He was a portfolio management team member of several small and mid cap growth funds, and the lead manager for the Putnam New Opportunities Fund since its inception in 1990. Dan was also a member of Putnam’s Management Committee and Partners Group. He began his career as an Analyst at Morgan Stanley. Dan graduated from the University of California, Berkeley and received his MBA from Stanford University Graduate School of Business. He earned the CFA designation and is a member of the CFA Institute and the CFA Society Boston.

Bill Sterling


Start Date

Tenure

Tenure Rank

Apr 17, 2020

2.12

2.1%

Bill has guided Trilogy since he founded the firm in 1999. Under his direction and portfolio management discipline, Trilogy has managed global, international and emerging markets mandates. Bill launched Trilogy after leaving Credit Suisse Asset Management, where he was an Executive Director and Global Head of Equities. Bill was a Managing Director and Head of International Equities at BEA Associates before the firm was acquired by CSAM. Previously, Bill was Head of Economic Research in Tokyo and later Chief International Economist at Merrill Lynch. He has a B.A. in Economics from Carleton College where he also currently serves as a Trustee. Bill also has a Ph.D. in Economics from Harvard University and studied at the University of Tokyo in the early 1980s as a Fulbright scholar. He is fluent in Japanese.

Mary Kane


Start Date

Tenure

Tenure Rank

Apr 17, 2020

2.12

2.1%

Mary is responsible for overseeing all aspects of our taxable fixed income team, including portfolio management, research and trading. She is also a member of the firm’s Investment and ESG Committees. Before joining GW&K in 2005, she was a Managing Director and Portfolio Manager with Fortis Investments where she was responsible for all of the firm’s U.S. dollar-denominated taxable bond mutual funds. Prior to that, Mary was a Vice President at Invesco, where she managed various institutional mandates, including several large pensions, endowments and foundations. In this capacity, she also served as a senior high yield credit analyst. She started her investment career as a Fixed Income Trader and Credit Analyst at Gardner and Preston Moss. Mary graduated cum laude from Wheaton College where she earned an AB in Economics and she received her MBA from Boston University’s Questrom School of Business. She is a CFA charterholder and a member of the CFA Institute and the CFA Society Boston.

Aaron Clark


Start Date

Tenure

Tenure Rank

Apr 17, 2020

2.12

2.1%

Mr. Clark serves as Principal and Portfolio Manager of GW&K, positions he has held since 2015. Mr. Clark began his investment career in 1992. Prior to joining GW&K in 2015, he was a Principal and Portfolio Manager at Tetrem Capital Management with responsibility for U.S. Value and U.S. Dividend mandates as well as a Canadian Dividend Fund. Prior to that, he served as a portfolio manager at Pioneer Investments as part of their value equities team, and at Morgan Stanley Investment Company, where he co-managed a Dividend Growth Fund. Before becoming a portfolio manager, Mr. Clark was an equity analyst at Prudential Securities and Gerard Klauer Mattison with a primary focus on companies in the financial services sector.

Thomas Masi


Start Date

Tenure

Tenure Rank

Apr 17, 2020

2.12

2.1%

Tom is responsible for the management of GW&K’s Emerging Wealth Equity Strategy and he contributes to the overall research effort for all of our emerging markets equity strategies. He is also a member of the firm's Investment Committee. Tom joined GW&K Investment Management from Trilogy Global Advisors, where he launched the Emerging Wealth Equity Strategy and served as co-portfolio manager since its inception. Previously, Tom was with Dominick and Dominick Advisors, a privately held investment management firm, where he was a partner and President of Asset Management. He also served as Managing Director, Senior Portfolio Manager, and senior member of the Asset Management's Investment Strategy Committee at SG Cowen Asset Management and led a group that managed $1.5 billion in client assets. Tom also worked at Kidder Peabody Asset Management as a Senior Vice President and Senior Portfolio Manager, where his team managed over $500 million in equity, fixed income and balanced separate accounts, in addition to the Kidder, Peabody Equity Income Fund and the firm's 401k and pension plans. He has a BA in economics from Rutgers University and an MBA in finance from the Rutgers Graduate School of Management. Tom is a member of the CFA Institute and the CFA Society of New York.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 30.27 6.52 9.25