Veritas Asia Pacific Fund  (MGSEX)

Fund Notice

Effective March 19, 2021, the subadvisers of AMG Managers Special Equity Fund (the "Fund") changed from Federated MDTA LLC, Lord, Abbett & Co. LLC, Ranger Investment Management L.P. and Smith Asset Management Group, L.P. to Veritas Asset Management LLP ("Veritas"). The appointment of Veritas is pursuant to an interim subadvisory agreement in anticipation of shareholder approval of a definitive subadvisory agreement. Also effective March 19, 2021, the Fund changed its name to AMG Veritas Asia Pacific Fund and changed its investment objective, principal investment strategies and principal risks. For more information regarding these and other changes to the Fund, please see the Fund's prospectus.

This is part of a larger strategic business initiative to transition to a fund lineup entirely sub-advised by AMG Affiliates. We believe clients will benefit from a streamlined platform wholly focused on AMG Affiliates’ high-conviction investment offerings, including fee reductions, subject to shareholder approval, across all the strategies involved in the transition. Please see this Fund’s prospectus for further details on the fee reduction.

Fund Overview

Fund Overview

Share Class

N

  • N

NAV | as of 06/18/2021

$87.02
-$0.20 (-0.23%)

Morningstar | Style Box

V B G L M S

Overall Morningstar Rating


Rated against 582 Small Growth funds as of 05/31/2021

View Morningstar Details

Growth of $10,000 (Hypothetical)

Since Inception 06/01/1984 to 05/31/2021 = $789,359.32

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown.

The MSCI AC Asia Pacific ex Japan Index replaced the Russell 2000® Growth Index as the Fund’s benchmark on March 19, 2021 because the Investment Manager and Subadviser believe the new benchmark is more representative of the Fund’s current investment strategies. The benchmarks are provided for illustrative purposes only, are unmanaged, reflect reinvestment of income and dividends and do not reflect the impact of advisory fees. The Russell 2000 Growth Index is a widely unmanaged index of market activity based on the aggregate performance of a selected portfolio of publicly trade common stocks and we have included the results of such index to give you a perspective of the historical performance of the U.S. equity market.​

Objective

By focusing on long term real returns, the fund aims to deliver capital appreciation and to outperform the MSCI Asia ex Japan index.

Why Consider

  • The Fund may be appropriate for investors looking to gain exposure to the Asia Pacific region
  • Invests in a focused portfolio of Asian companies identified through a combination of top-down thematic drivers and bottom-up fundamental research
  • Real return approach focused on protecting and growing capital
Ezra Sun

Ezra Sun

Fund Manager and Head of Asia

See Our Approach Read Bio

Performance

Performance

Read Important Investment Disclosures

Returns

 

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown.

The MSCI AC Asia Pacific ex Japan Index replaced the Russell 2000® Growth Index as the Fund’s benchmark on March 19, 2021 because the Investment Manager and Subadviser believe the new benchmark is more representative of the Fund’s current investment strategies. The benchmarks are provided for illustrative purposes only, are unmanaged, reflect reinvestment of income and dividends and do not reflect the impact of advisory fees. The Russell 2000 Growth Index is a widely unmanaged index of market activity based on the aggregate performance of a selected portfolio of publicly trade common stocks and we have included the results of such index to give you a perspective of the historical performance of the U.S. equity market.​

Expense Ratios

  • Gross Expense Ratio: 1.42%
  • Net Expense Ratio: 1.36%
  • Expense Cap Expiration Date: 05/01/2023

Distributions & Pricing


    • Calendar Year Distributions

    • Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
      Mar 24, 2021 $69.043600 $33.229400 $35.814200
      Dec 16, 2020 $6.420900 $6.420900
      Dec 16, 2019 $32.956200 $5.012700 $27.943500
      Dec 26, 2008 $5.783700 $0.039500 $5.744200
      Dec 26, 2007 $18.725500 $1.208900 $17.516600
      Dec 26, 2006 $13.560000 $13.560000
      Dec 27, 2005 $7.280000 $7.280000
      Dec 26, 2000 $11.770000 $4.710000 $7.060000
      Dec 28, 1999 $2.820000 $1.540000 $1.280000
      Dec 28, 1998 $0.070600 $0.070600
      Dec 26, 1997 $2.140000 $0.070000 $0.290000 $1.780000
      Dec 26, 1996 $3.070000 $0.780000 $2.290000
      Dec 26, 1995 $3.390000 $2.360000 $1.030000
      Aug 28, 1995 $2.270000 $2.270000
      Dec 30, 1994 $1.120000 $1.120000
      Sep 14, 1994 $0.220000 $0.220000
      Dec 28, 1993 $0.010000 $0.010000
      Dec 21, 1993 $2.600000 $0.640000 $1.960000
      Sep 15, 1993 $0.770000 $0.770000
      Dec 31, 1992 $0.010000 $0.010000
      Dec 16, 1992 $3.700000 $3.700000
      Nov 30, 1992 $0.010000 $0.010000
      Jun 30, 1992 $0.010000 $0.010000
      Mar 31, 1992 $0.020000 $0.020000
      Dec 31, 1991 $0.030000 $0.030000
      Dec 16, 1991 $1.740000 $1.180000 $0.560000
      Sep 30, 1991 $0.030000 $0.030000
      Aug 30, 1991 $0.020000 $0.020000
      Jul 31, 1991 $0.020000 $0.020000
      Jun 28, 1991 $0.020000 $0.020000
      May 31, 1991 $0.010000 $0.010000
      Apr 30, 1991 $0.020000 $0.020000
      Mar 29, 1991 $0.040000 $0.040000
      Feb 28, 1991 $0.020000 $0.020000
      Jan 31, 1991 $0.020000 $0.020000
      Dec 31, 1990 $0.040000 $0.040000
      Dec 17, 1990 $2.520000 $2.520000
      Nov 30, 1990 $0.020000 $0.020000
      Oct 31, 1990 $0.010000 $0.010000
      Sep 30, 1990 $0.030000 $0.030000
      Jul 31, 1990 $0.020000 $0.020000
      Jun 30, 1990 $0.040000 $0.040000
      May 31, 1990 $0.020000 $0.020000
      Apr 30, 1990 $0.060000 $0.060000
      Mar 31, 1990 $0.040000 $0.040000
      Feb 28, 1990 $0.030000 $0.030000
      Jan 31, 1990 $0.050000 $0.050000
      Dec 31, 1989 $3.100000 $0.040000 $3.060000
      Nov 30, 1989 $0.030000 $0.030000
      Oct 31, 1989 $0.050000 $0.050000
      Sep 30, 1989 $0.040000 $0.040000
      Aug 31, 1989 $0.070000 $0.070000
      Jul 31, 1989 $0.070000 $0.070000
      Jun 30, 1989 $0.050000 $0.050000
      May 31, 1989 $0.050000 $0.050000
      Apr 30, 1989 $0.040000 $0.040000
      Mar 31, 1989 $0.030000 $0.030000
      Feb 28, 1989 $0.020000 $0.020000
      Jan 31, 1989 $0.150000 $0.150000
      Dec 31, 1988 $1.510000 $0.040000 $1.470000
      Nov 30, 1988 $0.020000 $0.020000
      Oct 31, 1988 $0.030000 $0.030000
      Sep 30, 1988 $0.040000 $0.040000
      Aug 31, 1988 $0.020000 $0.020000
      Jul 31, 1988 $0.030000 $0.030000
      Jun 30, 1988 $0.050000 $0.050000
      May 31, 1988 $0.020000 $0.020000
      Apr 30, 1988 $0.050000 $0.050000
      Mar 31, 1988 $0.020000 $0.020000
      Feb 29, 1988 $0.050000 $0.050000
      Jan 31, 1988 $0.030000 $0.030000
      Dec 31, 1987 $1.710000 $1.710000
      Nov 30, 1987 $0.030000 $0.030000
      Oct 31, 1987 $0.040000 $0.040000
      Sep 30, 1987 $0.040000 $0.040000
      Aug 31, 1987 $0.030000 $0.030000
      Jul 31, 1987 $0.040000 $0.040000
      Jun 30, 1987 $0.810000 $0.810000
      May 31, 1987 $0.030000 $0.030000
      Apr 30, 1987 $0.040000 $0.040000
      Mar 31, 1987 $0.050000 $0.050000
      Feb 28, 1987 $0.020000 $0.020000
      Jan 31, 1987 $0.030000 $0.030000
      Dec 31, 1986 $0.030000 $0.030000
      Nov 30, 1986 $0.040000 $0.040000
      Oct 31, 1986 $0.020000 $0.020000
      Sep 30, 1986 $0.040000 $0.040000
      Aug 31, 1986 $0.030000 $0.030000
      Jul 31, 1986 $2.270000 $2.270000
      Jun 30, 1986 $0.070000 $0.070000
      May 31, 1986 $0.020000 $0.020000
      Apr 30, 1986 $0.030000 $0.030000
      Mar 31, 1986 $0.050000 $0.050000
      Feb 28, 1986 $0.080000 $0.080000
      Jan 31, 1986 $0.050000 $0.050000
      Dec 31, 1985 $0.040000 $0.040000
      Nov 30, 1985 $0.050000 $0.050000
      Oct 31, 1985 $0.040000 $0.040000
      Sep 30, 1985 $0.050000 $0.050000
      Aug 31, 1985 $0.060000 $0.060000
      Jul 31, 1985 $0.030000 $0.030000
      Jun 30, 1985 $0.130000 $0.030000 $0.100000
      Apr 30, 1985 $0.030000 $0.030000
      Mar 31, 1985 $0.060000 $0.060000
      Feb 28, 1985 $0.020000 $0.020000
      Dec 31, 1984 $0.180000 $0.180000
      Sep 30, 1984 $0.230000 $0.230000

Risk & Return Stats

As of: 05/31/2021

View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 03/31/2021

Samsung Electronics Co Ltd GDR 7.75%
Taiwan Semiconductor Manufacturing Co Ltd ADR 6.41%
Alibaba Group Holding Ltd 5.99%
Tencent Holdings Ltd 4.92%
Sea Ltd ADR 4.07%
HDFC Bank Ltd ADR 3.82%
Meituan, Class B 144A 3.47%
CSL Ltd 3.36%
Goodman Group 3.04%
Afterpay Ltd 2.59%
% in Top 10 Holdings 45.42%
View Holding Details Read Important Investment Disclosures

Regional Allocation

As of: 03/31/2021

Investment Approach

Investment Approach

Veritas Asia Pacific Fund

Veritas combines top-down analysis, focused on identifying long-term themes and trends, with bottom-up fundamental company research that seeks to identify companies within those identified themes and trends that it believes have sound business models, strong management and disciplined financial controls. Veritas seeks to focus on quality companies in sectors that they believe show long term structural growth potential with emphasis on industry leaders or emerging leaders with durable competitiveness.


Veritas Asia Pacific Fund and China Fund Introduction

 
An introduction to Veritas Asset Management, the AMG Veritas Asia Pacific Fund, and the AMG Veritas China Fund
Read More

About

About Veritas Asset Management

Background

Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. The firm manages both funds and segregated portfolios for institutional and retail investors globally. The focus is on identifying good quality, sustainable businesses and remaining patient to buy into these companies at the right entry point in order to achieve long term real returns.

Learn More

More Funds From Veritas Asset Management

MIMFX

Veritas China Fund

The Fund seeks to provide long-term capital appreciation

View Fund Details

MFQAX

Veritas Global Focus Fund

The Fund seeks to provide long-term capital appreciation.

View Fund Details

BLUEX

Veritas Global Real Return Fund

The Fund seeks to provide real returns over the medium and longer term.

View Fund Details

Founded

2003


Headquarters

London, England


Affiliate Since

2014

Funds to Consider

YACKX

Yacktman Fund

The Fund seeks long-term capital appreciation and, to a lesser extent, current income by primarily investing in common stocks of U.S. companies.


Overall Morningstar Rating

Rated against 1140 Large Value funds as of 05/31/2021
★★★★★

YACKX
Russell 1000® Value Index
S&P 500® Index

Quarterly performance (%) data as of 03/31/2021

Fund Detail Read Important Investment Disclosures

ARDEX

River Road Dividend All Cap Value Fund

Seeks to provide high current income and, secondarily, long-term capital appreciation by investing primarily in a diversified, all cap portfolio of income producing equity securities.


Overall Morningstar Rating

Rated against 1140 Large Value funds as of 05/31/2021
★★

ARDEX
Russell 3000® Value Index

Quarterly performance (%) data as of 03/31/2021

Fund Detail Read Important Investment Disclosures

GWMIX

GW&K Municipal Bond Fund

The Fund seeks to provide current income, exempt from federal income tax, and capital preservation by primarily investing in a portfolio of high-quality municipal bonds.


Overall Morningstar Rating

Rated against 253 Muni National Interm funds as of 05/31/2021
★★★

GWMIX
Bloomberg Barclays 10-Year Municipal Bond Index

Quarterly performance (%) data as of 03/31/2021

Fund Detail Read Important Investment Disclosures

Discover how the boutique advantage helps generate alpha.

Learn More About AMG
  Back To Top