Fund Overview Fund Overview Share Class I N I Z NAV | as of 08/10/2022 $9.50 +$0.02 (+0.21%) Morningstar | Style Box L M E H M L Overall Morningstar Rating Rated against 568 Intermediate Core-Plus Bond funds as of 07/31/2022 View Morningstar Details Growth of $10,000 (Hypothetical) Since Inception 07/18/2011 to 06/30/2022 = $14,013.76 From: To: 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. View Performance Read Important Investment Disclosures Objective The Fund seeks to provide income and capital growth by investing primarily in a diversified portfolio of fixed-income securities across investment-grade, high-yield and non-traditional fixed-income asset classes. Why Consider Provides investors with exposure to a diversified portfolio of fixed income securities The Fund employs a disciplined, team-based approach, seeking to add consistent value through management of duration, yield curve and credit risk The investment strategy utilizes a long-established process of macro driven duration management, yield-curve positioning and credit allocation with the ability to tactically allocate up to 30% of the portfolio in high yield bonds and other fixed income asset classes as opportunities arise Documents Fact Sheet Commentary Summary Prospectus Prospectus 2021 Year End Distributions View All Documents David Gregoris, MBA, CFA MANAGING DIRECTOR, FIXED INCOME See Our Approach Read Bio Derek Brown, MBA, CFA SENIOR VICE PRESIDENT, CO-HEAD OF FIXED INCOME See Our Approach Read Bio Sue McNamara, CFA SENIOR VICE PRESIDENT, FIXED INCOME See Our Approach Read Bio Neil McCabe, MBA, CFA VICE PRESIDENT, FIXED INCOME See Our Approach Read Bio Investment Style Beutel Goodman Core Plus Bond Fund has a Fixed Income objective, seeking to achieve a high level of current income. High Med. Low Ltd. Mod. Ext. Fixed Income Objective Beutel Goodman Core Plus Bond Fund is categorized as Medium-Moderate. It combines medium credit quality with moderate interest-rate sensitivity. Morningstar Ratings Risk-adjusted returns as of 07/31/2022 Overall Rating (of 568) 3 Years (of 568) 5 Years (of 503) 10 Years (of 362) Category Intermediate Core-Plus Bond Read Important Investment Disclosures David Gregoris, MBA, CFA MANAGING DIRECTOR, FIXED INCOME David has been with Beutel Goodman since 1992 and has over 30 years of investment experience. As a portfolio manager he is responsible for oversight of the fixed income process, and co-manages the fixed income team. He is responsible for portfolio duration and positioning, risk exposure, quantitative analysis and immunized and dedicated portfolios. David is also a member of the Management Committee and sits on the Board of Directors. Prior to joining Beutel Goodman, David worked at TAL where he was a portfolio manager in charge of fixed income trading. David is a graduate of the University of Windsor and a CFA charterholder. Derek Brown, MBA, CFA SENIOR VICE PRESIDENT, CO-HEAD OF FIXED INCOME Derek joined Beutel Goodman in 2016 and has over 15 years of investment experience. He is a portfolio manager and co-lead of the fixed income team. His strategic responsibilities include portfolio duration, positioning and risk exposure management. Prior to joining Beutel Goodman, Derek worked at Fiera Capital where he was a fixed income portfolio manager. Derek is a graduate of Concordia University, McGill University and a CFA charterholder. Sue McNamara, CFA SENIOR VICE PRESIDENT, FIXED INCOME Sue joined Beutel Goodman in 2006 and has over 25 years of investment experience. She is a portfolio manager and strategist with additional responsibilities for credit analysis and product design. In addition, she leads the fixed income team’s responsible investing efforts. Prior to joining Beutel Goodman, Sue worked as a Research Analyst for several of the large brokerage houses, most recently BMO Nesbitt Burns. Sue is a graduate of the University of Western Ontario and a CFA charterholder. Neil McCabe, MBA, CFA VICE PRESIDENT, FIXED INCOME Neil joined Beutel Goodman in 2019 as a credit analyst to lead the firm's high yield initiative. Prior to joining the firm he gained extensive investment experience, most recently as a portfolio manager for Fiera Capital. Neil is a graduate of McMaster University and IESE Business School and is a CFA charterholder. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year 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. Returns for periods less than one year are not annualized. Expense Ratios Gross Expense Ratio: 0.53% Net Expense Ratio: 0.49% Expense Cap Expiration Date: 03/01/2023 Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Jul 27, 2022 $0.029200 $0.029200 — — Jun 28, 2022 $0.026100 $0.026100 — — May 26, 2022 $0.025700 $0.025700 — — Apr 27, 2022 $0.024900 $0.024900 — — Mar 29, 2022 $0.024200 $0.024200 — — Feb 24, 2022 $0.023200 $0.023200 — — Jan 27, 2022 $0.022600 $0.022600 — — Dec 15, 2021 $0.024400 $0.024400 — — Nov 26, 2021 $0.027700 $0.027700 — — Oct 27, 2021 $0.025300 $0.025300 — — Sep 28, 2021 $0.022700 $0.022700 — — Aug 27, 2021 $0.021200 $0.021200 — — Jul 28, 2021 $0.021100 $0.021100 — — Jun 28, 2021 $0.020600 $0.020600 — — May 26, 2021 $0.020100 $0.020100 — — Apr 28, 2021 $0.023200 $0.023200 — — Mar 29, 2021 $0.022300 $0.022300 — — Feb 24, 2021 $0.020700 $0.020700 — — Jan 27, 2021 $0.022200 $0.022200 — — Dec 16, 2020 $0.050600 $0.050600 — — Nov 25, 2020 $0.031500 $0.031500 — — Oct 28, 2020 $0.024700 $0.024700 — — Sep 28, 2020 $0.023300 $0.023300 — — Aug 27, 2020 $0.021700 $0.021700 — — Jul 29, 2020 $0.021400 $0.021400 — — Jun 26, 2020 $0.025100 $0.025100 — — May 27, 2020 $0.019000 $0.019000 — — Apr 28, 2020 $0.033300 $0.033300 — — Mar 27, 2020 $0.035200 $0.035200 — — Feb 26, 2020 $0.025500 $0.025500 — — Jan 29, 2020 $0.026600 $0.026600 — — Dec 16, 2019 $0.030300 $0.030300 — — Nov 26, 2019 $0.035800 $0.035800 — — Oct 29, 2019 $0.035100 $0.035100 — — Sep 26, 2019 $0.029800 $0.029800 — — Aug 28, 2019 $0.029800 $0.029800 — — Jul 29, 2019 $0.032800 $0.032800 — — Jun 26, 2019 $0.032100 $0.032100 — — May 29, 2019 $0.030600 $0.030600 — — Apr 26, 2019 $0.031800 $0.031800 — — Mar 27, 2019 $0.034000 $0.034000 — — Feb 26, 2019 $0.026400 $0.026400 — — Jan 29, 2019 $0.028800 $0.028800 — — Dec 27, 2018 $0.043000 $0.043000 — — Nov 28, 2018 $0.034300 $0.034300 — — Oct 29, 2018 $0.028300 $0.028300 — — Sep 26, 2018 $0.034300 $0.034300 — — Aug 29, 2018 $0.035000 $0.035000 — — Jul 27, 2018 $0.034300 $0.034300 — — Jun 27, 2018 $0.026900 $0.026900 — — May 29, 2018 $0.026800 $0.026800 — — Apr 26, 2018 $0.025500 $0.025500 — — Mar 27, 2018 $0.026300 $0.026300 — — Feb 26, 2018 $0.024900 $0.024900 — — Jan 29, 2018 $0.024300 $0.024300 — — Dec 27, 2017 $0.023700 $0.023700 — — Nov 27, 2017 $0.026300 $0.026300 — — Oct 26, 2017 $0.026900 $0.026900 — — Sep 26, 2017 $0.026900 $0.026900 — — Aug 28, 2017 $0.029400 $0.029400 — — Jul 26, 2017 $0.024400 $0.024400 — — Jun 27, 2017 $0.034600 $0.034600 — — May 25, 2017 $0.034300 $0.034300 — — Apr 25, 2017 $0.034300 $0.034300 — — Mar 28, 2017 $0.029300 $0.029300 — — Feb 23, 2017 $0.026700 $0.026700 — — Jan 26, 2017 $0.027300 $0.027300 — — Dec 27, 2016 $0.075800 $0.055000 $0.020800 — Nov 25, 2016 $0.027300 $0.027300 — — Oct 26, 2016 $0.027600 $0.027600 — — Sep 30, 2016 $0.028200 $0.028200 — — Aug 31, 2016 $0.031200 $0.031200 — — Jul 29, 2016 $0.027100 $0.027100 — — Jun 30, 2016 $0.028600 $0.028600 — — May 31, 2016 $0.028900 $0.028900 — — Apr 29, 2016 $0.025600 $0.025600 — — Mar 31, 2016 $0.028400 $0.028400 — — Feb 29, 2016 $0.025400 $0.025400 — — Jan 29, 2016 $0.020500 $0.020500 — — Dec 30, 2015 $0.034200 $0.034200 — — Nov 30, 2015 $0.033100 $0.033100 — — Oct 30, 2015 $0.028900 $0.028900 — — Sep 30, 2015 $0.030200 $0.030200 — — Aug 31, 2015 $0.034000 $0.034000 — — Jul 31, 2015 $0.035400 $0.035400 — — Jun 30, 2015 $0.038000 $0.038000 — — May 29, 2015 $0.033200 $0.033200 — — Apr 30, 2015 $0.034300 $0.034300 — — Mar 31, 2015 $0.033100 $0.033100 — — Feb 27, 2015 $0.035200 $0.035200 — — Jan 30, 2015 $0.034500 $0.034500 — — Dec 30, 2014 $0.036000 $0.036000 — — Nov 28, 2014 $0.025700 $0.025700 — — Oct 31, 2014 $0.027000 $0.027000 — — Sep 30, 2014 $0.038000 $0.038000 — — Aug 29, 2014 $0.032600 $0.032600 — — Jul 31, 2014 $0.039800 $0.039800 — — Jun 30, 2014 $0.042100 $0.042100 — — May 30, 2014 $0.037700 $0.037700 — — Apr 30, 2014 $0.039700 $0.039700 — — Mar 31, 2014 $0.039400 $0.039400 — — Feb 28, 2014 $0.033200 $0.033200 — — Jan 31, 2014 $0.037600 $0.037600 — — Dec 30, 2013 $0.039400 $0.039400 — — Nov 29, 2013 $0.032900 $0.032900 — — Oct 31, 2013 $0.035300 $0.035300 — — Sep 30, 2013 $0.037500 $0.037500 — — Aug 30, 2013 $0.033200 $0.033200 — — Jul 31, 2013 $0.035900 $0.035900 — — Jun 28, 2013 $0.028300 $0.028300 — — May 31, 2013 $0.031000 $0.031000 — — Apr 30, 2013 $0.033300 $0.033300 — — Mar 28, 2013 $0.027300 $0.027300 — — Feb 28, 2013 $0.028200 $0.028200 — — Jan 31, 2013 $0.027300 $0.027300 — — Dec 28, 2012 $0.090200 $0.030100 $0.058800 $0.001300 Nov 30, 2012 $0.039200 $0.039200 — — Oct 31, 2012 $0.034300 $0.034300 — — Sep 28, 2012 $0.028000 $0.028000 — — Aug 31, 2012 $0.030500 $0.030500 — — Jul 31, 2012 $0.028200 $0.028200 — — Jun 29, 2012 $0.026900 $0.026900 — — May 31, 2012 $0.033700 $0.033700 — — Apr 30, 2012 $0.034300 $0.034300 — — Mar 30, 2012 $0.029800 $0.029800 — — Feb 29, 2012 $0.030600 $0.030600 — — Jan 31, 2012 $0.031800 $0.031800 — — Dec 29, 2011 $0.068000 $0.052700 $0.015300 — Nov 30, 2011 $0.040900 $0.040900 — — Oct 31, 2011 $0.038300 $0.038300 — — Sep 30, 2011 $0.029800 $0.029800 — — Aug 31, 2011 $0.024600 $0.024600 — — Jul 29, 2011 $0.005000 $0.005000 — — From: To: Risk & Return Stats As of: 07/31/2022 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -0.54 -0.26 0.52 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 6.68 5.39 4.37 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. -0.22 -0.04 0.33 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 117.53 101.77 111.12 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 122.80 108.76 101.14 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.02 0.95 0.95 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 52.04 53.77 58.78 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 4.62 3.67 2.81 View All Characteristics & Stats All Characteristics & Stats Beutel Goodman Core Plus Bond Fund (ADLIX) Portfolio Characteristics (Fixed Income) Risk & Return Effective Maturity Fund Holdings Fund Bloomberg US Aggregate Bond Index Fund Assets (Mil.$) $196 Number of Holdings 153 12583 Average Effective Duration (years) 6.85 6.44 Average Modified Duration (years) 6.96 Convexity 0.41 0.64 Average Maturity (years) 9.05 8.63 Yield to Maturity 5.18% 3.72% Yield to Worst 5.16% 3.72% Current Yield 3.86% 2.69% SEC 30-Day Yield (%) 3.91% SEC 30-Day Yield (%) w/o fee 3.86% Average Coupon 3.53% 2.49% Average Price 91.02 92.63 Average Credit Quality A+ AA1/AA2 Trailing 12-Months Portfolio Turnover 79.04% % Callable 60.50% % Non-US 12.54% Adjustable Coupon 20.83% Step Coupon 0.00% Zero Coupon 0.00% As of: 06/30/2022 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -0.54 -0.26 0.52 Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 6.68 5.39 4.37 Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. -0.22 -0.04 0.33 Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 117.53 101.77 111.12 Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 122.80 108.76 101.14 Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.02 0.95 0.95 R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 52.04 53.77 58.78 Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 4.62 3.67 2.81 Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -0.14 -0.11 0.15 Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. -1.41 -0.22 1.51 Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -12.51 -12.51 -12.51 As of: 07/31/2022 Maturity Fund Less Than 2 Years 4.92% 2 to 5 Years 35.13% 5 to 10 Years 42.38% 10 to 15 Years 1.49% More Than 15 Years 16.07% NA 0.00% As of: 06/30/2022 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Fixed) As of: 06/30/2022 United States Treasury Note/Bond Fixed 7.67% United States Treasury Note/Bond Fixed 3.39% United States Treasury Note/Bond Fixed 2.27% Fannie Mae Pool BL4421 Fixed 2.19% Freddie Mac REMICS Fixed 2.15% United States Treasury Note/Bond Fixed 2.09% New Economy Assets Phase 1 Sponsor LLC Fixed 144A 2.00% Vistra Operations Co LLC Fixed 144A 1.98% United States Treasury Note/Bond Fixed 1.92% Freddie Mac REMICS Fixed 1.83% % in Top 10 Holdings 27.49% View Holding Details Holding Details Beutel Goodman Core Plus Bond Fund (ADLIX) Top 10 Holdings (Fixed Income) All Holdings Fund Holdings Coupon Maturity % of Net Assets United States Treasury Note/Bond Fixed 1.88% Feb 2032 7.67% United States Treasury Note/Bond Fixed 1.88% Nov 2051 3.39% United States Treasury Note/Bond Fixed 1.63% May 2026 2.27% Fannie Mae Pool BL4421 Fixed 2.14% Oct 2029 2.19% Freddie Mac REMICS Fixed 2.5% Nov 2040 2.15% United States Treasury Note/Bond Fixed 1.88% Feb 2051 2.09% New Economy Assets Phase 1 Sponsor LLC Fixed 144A 1.91% Oct 2061 2.00% Vistra Operations Co LLC Fixed 144A 4.88% May 2024 1.98% United States Treasury Note/Bond Fixed 2.75% Feb 2028 1.92% Freddie Mac REMICS Fixed 3% Mar 2044 1.83% % in Top 10 Holdings 27.49% As of: 06/30/2022 Download All Holdings (PDF) As of: 06/30/2022 Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund United States Treasury Note/Bond Fixed 1.88% Feb 2032 U.S. Government B US USD 16,617,400 91 $15,054,326 7.67% United States Treasury Note/Bond Fixed 1.88% Nov 2051 U.S. Government B US USD 8,870,000 75 $6,655,272 3.39% United States Treasury Note/Bond Fixed 1.63% May 2026 U.S. Government B US USD 4,700,000 95 $4,454,168 2.27% Fannie Mae Pool BL4421 Fixed 2.14% Oct 2029 Mortgage-Backed Security B US USD 4,700,000 91 $4,287,440 2.19% Freddie Mac REMICS Fixed 2.50% Nov 2040 Mortgage-Backed Security B US USD 4,451,562 95 $4,210,633 2.15% United States Treasury Note/Bond Fixed 1.88% Feb 2051 U.S. Government B US USD 5,475,000 75 $4,106,892 2.09% New Economy Assets Phase 1 Sponsor LLC Fixed 1.91% Oct 2061 144A Asset-Backed Security B US USD 4,500,000 87 $3,924,508 2.00% Vistra Operations Co LLC Fixed 4.88% May 2024 144A Corporate B US USD 3,900,000 99 $3,879,921 1.98% United States Treasury Note/Bond Fixed 2.75% Feb 2028 U.S. Government B US USD 3,840,000 98 $3,772,950 1.92% Freddie Mac REMICS Fixed 3.00% Mar 2044 Mortgage-Backed Security B US USD 3,841,271 94 $3,597,190 1.83% BOC Aviation USA Corp Fixed 1.63% Apr 2024 144A Corporate B US USD 3,500,000 96 $3,352,755 1.71% Mileage Plus Holdings LLC Term Loan Floating Jun 2027 Corporate B US USD 3,000,000 99 $2,967,186 1.51% Fannie Mae Pool BL5484 Fixed 2.26% Jan 2030 Mortgage-Backed Security B US USD 3,200,000 91 $2,924,788 1.49% Bank of Montreal Fixed 3.70% Jun 2025 Corporate B CA USD 2,900,000 99 $2,874,321 1.46% Air Lease Corp Floating Perpetual Corporate B US USD 4,000,000 72 $2,870,000 1.46% Freddie Mac REMICS Fixed 4.00% Mar 2042 Mortgage-Backed Security B US USD 2,710,423 101 $2,743,882 1.40% Fannie Mae REMICS Fixed 3.50% Mar 2042 Mortgage-Backed Security B US USD 2,811,169 96 $2,688,420 1.37% Rogers Communications Inc Floating Mar 2082 144A Corporate B CA USD 3,000,000 87 $2,624,188 1.34% Goldman Sachs Group Inc Floating Oct 2027 Corporate B US USD 2,900,000 89 $2,566,652 1.31% Delta Air Lines Inc Fixed 7.00% May 2025 144A Corporate B US USD 2,500,000 101 $2,530,471 1.29% Verizon Communications Inc Fixed 4.40% Nov 2034 Corporate B US USD 2,575,000 96 $2,467,384 1.26% Clean Harbors Inc Term Loan Floating Oct 2028 Corporate B US USD 2,487,500 99 $2,457,961 1.25% Mileage Plus Holdings LLC Fixed 6.50% Jun 2027 144A Corporate B US USD 2,500,000 98 $2,457,000 1.25% Ally Financial Inc Floating Perpetual Corporate B US USD 3,000,000 79 $2,379,045 1.21% Morgan Stanley Floating Sep 2036 Corporate B US USD 3,000,000 77 $2,306,763 1.18% Paramount Global Fixed 4.95% Jan 2031 Corporate B US USD 2,400,000 95 $2,284,824 1.16% Coca-Cola Femsa SAB de CV Fixed 2.75% Jan 2030 Corporate B MX USD 2,500,000 89 $2,233,400 1.14% Enbridge Inc Floating Mar 2078 Corporate B CA USD 2,500,000 89 $2,225,347 1.13% Fannie Mae Pool BL4420 Fixed 2.14% Oct 2029 Mortgage-Backed Security B US USD 2,300,000 91 $2,098,109 1.07% Rattler Midstream LP Fixed 5.63% Jul 2025 144A Corporate B US USD 2,000,000 100 $1,999,140 1.02% United States Treasury Note/Bond Fixed 1.88% Feb 2041 U.S. Government B US USD 2,500,000 78 $1,960,645 1.00% Smithfield Foods Inc Fixed 4.25% Feb 2027 144A Corporate B US USD 2,000,000 96 $1,925,159 0.98% United States Treasury Note/Bond Fixed 2.75% May 2025 U.S. Government B US USD 1,900,000 99 $1,885,453 0.96% Anheuser-Busch Cos LLC Fixed 4.90% Feb 2046 Corporate B US USD 2,000,000 94 $1,879,780 0.96% Fannie Mae REMICS Fixed 3.00% Jan 2045 Mortgage-Backed Security B US USD 1,856,146 97 $1,805,681 0.92% Qatar Energy Fixed 1.38% Sep 2026 144A Corporate B QA USD 2,000,000 90 $1,798,736 0.92% Capital One Financial Corp Floating Mar 2026 Corporate B US USD 1,900,000 94 $1,793,924 0.91% Rogers Communications Inc Fixed 4.55% Mar 2052 144A Corporate B CA USD 2,000,000 88 $1,756,316 0.90% Avolon Holdings Funding Ltd Fixed 3.25% Feb 2027 144A Corporate B IE USD 2,000,000 87 $1,740,184 0.89% Charter Communications Operating LLC Fixed 5.25% Apr 2053 Corporate B US USD 2,000,000 85 $1,690,027 0.86% HSBC Holdings PLC Floating Aug 2029 Corporate B GB USD 2,000,000 84 $1,679,847 0.86% United States Treasury Note/Bond Fixed 2.75% Apr 2027 U.S. Government B US USD 1,645,000 99 $1,622,767 0.83% Citigroup Inc Floating Jun 2027 Corporate B US USD 1,800,000 88 $1,591,364 0.81% United States Treasury Note/Bond Fixed 1.25% May 2050 U.S. Government B US USD 2,315,000 64 $1,472,919 0.75% DCP Midstream Operating LP Fixed 5.38% Jul 2025 Corporate B US USD 1,500,000 97 $1,458,750 0.74% United States Treasury Note/Bond Fixed 2.50% Apr 2024 U.S. Government B US USD 1,470,000 99 $1,457,195 0.74% Fannie Mae REMICS Fixed 3.50% Oct 2042 Mortgage-Backed Security B US USD 1,406,006 97 $1,368,640 0.70% Penske Truck Leasing Co LP Fixed 4.20% Apr 2027 144A Corporate B US USD 1,370,000 98 $1,336,142 0.68% Delta Air Lines Inc Fixed 4.75% Oct 2028 144A Corporate B US USD 1,410,000 94 $1,331,855 0.68% Cheniere Corpus Christi Holdings LLC Fixed 5.13% Jun 2027 Corporate B US USD 1,325,000 100 $1,329,882 0.68% Transcanada Trust Floating Mar 2077 Corporate B CA USD 1,475,000 89 $1,312,750 0.67% Canadian Natural Resources Ltd Fixed 3.85% Jun 2027 Corporate B CA USD 1,300,000 96 $1,245,846 0.63% Duke Energy Progress LLC Fixed 4.15% Dec 2044 Corporate B US USD 1,390,000 89 $1,243,044 0.63% Sabine Pass Liquefaction LLC Fixed 5.00% Mar 2027 Corporate B US USD 1,235,000 100 $1,237,988 0.63% Dell International LLC Fixed 6.10% Jul 2027 Corporate B US USD 1,175,000 105 $1,231,937 0.63% East Ohio Gas Co Fixed 3.00% Jun 2050 144A Corporate B US USD 1,700,000 72 $1,227,085 0.63% Vodafone Group PLC Fixed 4.38% May 2028 Corporate B GB USD 1,225,000 100 $1,219,344 0.62% Duke Energy Corp Fixed 3.95% Aug 2047 Corporate B US USD 1,500,000 81 $1,216,573 0.62% Tucson Electric Power Co Fixed 4.00% Jun 2050 Corporate B US USD 1,425,000 84 $1,203,365 0.61% Tampa Electric Co Fixed 3.63% Jun 2050 Corporate B US USD 1,475,000 81 $1,194,866 0.61% Bank of Montreal Floating Dec 2032 Corporate B CA USD 1,285,000 93 $1,191,047 0.61% Goldman Sachs Group Inc Floating Perpetual Corporate B US USD 1,485,000 78 $1,152,837 0.59% Florida Power & Light Co Fixed 2.88% Dec 2051 Corporate B US USD 1,500,000 74 $1,115,369 0.57% Organon & Co Fixed 4.13% Apr 2028 144A Corporate B US USD 1,250,000 89 $1,106,250 0.56% Freddie Mac Gold Pool G08658 Fixed 3.00% Aug 2045 Mortgage-Backed Security B US USD 1,152,317 95 $1,095,535 0.56% JBS USA LUX SA Fixed 5.13% Feb 2028 144A Corporate B US USD 1,000,000 98 $976,520 0.50% Caesars Entertainment Inc Fixed 6.25% Jul 2025 144A Corporate B US USD 970,000 96 $934,818 0.48% Freddie Mac Pool SD0035 Fixed 3.00% Apr 2047 Mortgage-Backed Security B US USD 945,386 95 $900,467 0.46% JBS USA LUX SA Fixed 5.50% Jan 2030 144A Corporate B US USD 935,000 95 $884,790 0.45% Fannie Mae REMICS Fixed 4.00% Apr 2042 Mortgage-Backed Security B US USD 855,374 101 $866,785 0.44% UBS Commercial Mortgage Trust 2018-C8 Floating Feb 2051 Mortgage-Backed Security B US USD 917,000 94 $862,292 0.44% Post Holdings Inc Fixed 5.50% Dec 2029 144A Corporate B US USD 950,000 89 $849,281 0.43% Consolidated Edison Co of New York Inc Fixed 5.70% Jun 2040 Corporate B US USD 800,000 106 $845,125 0.43% Ford Motor Co Fixed 7.45% Jul 2031 Corporate B US USD 830,000 101 $842,201 0.43% OneMain Finance Corp Fixed 7.13% Mar 2026 Corporate B US USD 905,000 92 $836,428 0.43% Vodafone Group PLC Floating Apr 2079 Corporate B GB USD 850,000 98 $833,808 0.42% American Airlines Inc Fixed 5.75% Apr 2029 144A Corporate B US USD 975,000 85 $832,416 0.42% HSBC Holdings PLC Floating May 2032 Corporate B GB USD 1,000,000 82 $821,179 0.42% Freddie Mac Gold Pool G08653 Fixed 3.00% Jul 2045 Mortgage-Backed Security B US USD 862,729 95 $820,386 0.42% OneMain Finance Corp Fixed 6.63% Jan 2028 Corporate B US USD 900,000 89 $804,384 0.41% GSCG Trust 2019-600C Fixed 3.76% Sep 2034 144A Mortgage-Backed Security B US USD 862,000 92 $796,481 0.41% CSAIL 2018-C14 Commercial Mortgage Trust Floating Nov 2051 Mortgage-Backed Security B US USD 880,000 90 $791,321 0.40% Mattamy Group Corp Fixed 5.25% Dec 2027 144A Corporate B CA USD 950,000 82 $775,792 0.40% United States Treasury Note/Bond Fixed 2.38% Feb 2042 U.S. Government B US USD 890,000 85 $754,692 0.38% Citigroup Commercial Mortgage Trust 2016-GC36 Floating Feb 2049 Mortgage-Backed Security B US USD 763,000 96 $734,660 0.37% UBS Commercial Mortgage Trust 2019-C16 Floating Apr 2052 Mortgage-Backed Security B US USD 769,000 95 $726,969 0.37% United States Treasury Note/Bond Fixed 2.25% Feb 2052 U.S. Government B US USD 850,000 82 $699,523 0.36% Freddie Mac REMICS Fixed 3.00% Jul 2046 Mortgage-Backed Security B US USD 712,948 97 $693,828 0.35% COMM 2016-CR28 Mortgage Trust Floating Feb 2049 Mortgage-Backed Security B US USD 726,000 95 $690,179 0.35% Fannie Mae Pool AS4645 Fixed 3.00% Mar 2045 Mortgage-Backed Security B US USD 693,456 95 $659,541 0.34% UBS Commercial Mortgage Trust 2019-C18 Floating Dec 2052 Mortgage-Backed Security B US USD 717,000 91 $649,772 0.33% JPMBB Commercial Mortgage Securities Trust 2015-C33 Floating Dec 2048 Mortgage-Backed Security B US USD 670,000 94 $631,381 0.32% Fannie Mae REMICS Fixed 2.75% Nov 2042 Mortgage-Backed Security B US USD 631,303 97 $609,472 0.31% Wells Fargo Commercial Mortgage Trust 2019-C50 Fixed 4.19% May 2052 Mortgage-Backed Security B US USD 637,000 94 $596,497 0.30% Pilgrim's Pride Corp Fixed 3.50% Mar 2032 144A Corporate B US USD 750,000 78 $585,938 0.30% Cigna Corp Fixed 4.90% Dec 2048 Corporate B US USD 600,000 96 $575,909 0.29% BX Trust 2019-OC11 Floating Dec 2041 144A Mortgage-Backed Security B US USD 709,000 80 $569,578 0.29% COMM 2015-LC23 Mortgage Trust Floating Oct 2048 Mortgage-Backed Security B US USD 585,000 95 $557,079 0.28% Wells Fargo Commercial Mortgage Trust 2019-C50 Fixed 4.34% May 2052 Mortgage-Backed Security B US USD 637,000 86 $549,787 0.28% Citigroup Commercial Mortgage Trust 2019-GC43 Fixed 2.98% Nov 2052 Mortgage-Backed Security B US USD 514,000 97 $499,947 0.25% Burlington Northern Santa Fe LLC Fixed 4.45% Jan 2053 Corporate B US USD 500,000 97 $483,565 0.25% Wells Fargo Commercial Mortgage Trust 2016-C33 Fixed 3.90% Mar 2059 Mortgage-Backed Security B US USD 517,000 92 $476,948 0.24% Magallanes Inc Fixed 3.75% Mar 2027 144A Corporate B US USD 500,000 94 $468,996 0.24% DBJPM 16-C1 Mortgage Trust Floating May 2049 Mortgage-Backed Security B US USD 534,000 87 $464,345 0.24% CSAIL 2017-CX10 Commercial Mortgage Trust Floating Nov 2050 Mortgage-Backed Security B US USD 506,000 89 $451,292 0.23% Mcdonald's Corp Fixed 4.45% Mar 2047 Corporate B US USD 485,000 93 $449,449 0.23% State Of California Fixed 7.55% Apr 2039 Municipal Bond B US USD 330,000 136 $447,641 0.23% Kinder Morgan Inc Fixed 1.75% Nov 2026 Corporate B US USD 500,000 89 $443,554 0.23% BANK 2020-BNK28 Fixed 2.14% Mar 2063 Mortgage-Backed Security B US USD 524,000 83 $432,575 0.22% JPMDB Commercial Mortgage Securities Trust 2020-COR7 Floating May 2053 Mortgage-Backed Security B US USD 496,000 86 $428,326 0.22% Benchmark 2020-B19 Mortgage Trust Fixed 2.35% Sep 2053 Mortgage-Backed Security B US USD 524,000 81 $425,408 0.22% BANK 2020-BNK28 Fixed 2.34% Mar 2063 Mortgage-Backed Security B US USD 524,000 80 $420,305 0.21% Goldman Sachs Group Inc Floating Perpetual Corporate B US USD 500,000 82 $408,750 0.21% JPMBB Commercial Mortgage Securities Trust 2014-C25 Floating Nov 2047 Mortgage-Backed Security B US USD 450,000 88 $395,965 0.20% Fannie Mae REMICS Fixed 4.00% Jan 2041 Mortgage-Backed Security B US USD 417,748 94 $390,681 0.20% Freddie Mac REMICS Fixed 4.00% Nov 2041 Mortgage-Backed Security B US USD 334,483 101 $338,975 0.17% Wells Fargo Commercial Mortgage Trust 2019-C49 Floating Mar 2052 Mortgage-Backed Security B US USD 350,000 92 $321,459 0.16% JPMBB Commercial Mortgage Securities Trust 2014-C23 Floating Sep 2047 Mortgage-Backed Security B US USD 330,824 95 $314,450 0.16% Benchmark 2020-B17 Mortgage Trust Fixed 2.92% Mar 2053 Mortgage-Backed Security B US USD 340,000 86 $292,505 0.15% BBCMS 2017-DELC Mortgage Trust Floating Aug 2036 144A Mortgage-Backed Security B US USD 302,000 94 $285,301 0.15% BANK 2017-BNK5 Floating Jun 2060 Mortgage-Backed Security B US USD 300,000 92 $276,402 0.14% Missouri Highway & Transportation Commission Fixed 5.06% May 2024 Municipal Bond B US USD 245,000 103 $252,842 0.13% Freddie Mac Gold Pool T65110 Fixed 3.50% Oct 2042 Mortgage-Backed Security B US USD 259,246 96 $248,595 0.13% CSMC Trust 2017-CHOP Floating Jul 2032 144A Mortgage-Backed Security B US USD 261,000 94 $244,119 0.12% SCC Power PLC Fixed 8.00% Dec 2028 144A Corporate B GB USD 406,016 43 $174,587 0.09% JBS USA LUX SA Fixed 6.50% Apr 2029 144A Corporate B US USD 148,000 101 $148,888 0.08% BBCMS 2017-DELC Mortgage Trust Floating Aug 2036 144A Mortgage-Backed Security B US USD 150,000 96 $143,590 0.07% Fannie Mae Pool MA0919 Fixed 3.50% Dec 2031 Mortgage-Backed Security B US USD 140,985 100 $140,988 0.07% BBCMS 2017-DELC Mortgage Trust Floating Aug 2036 144A Mortgage-Backed Security B US USD 132,000 96 $127,353 0.06% Fannie Mae Pool MA0949 Fixed 3.50% Jan 2032 Mortgage-Backed Security B US USD 122,571 100 $122,574 0.06% Government National Mortgage Association Fixed 4.50% May 2039 Mortgage-Backed Security B US USD 110,998 102 $112,840 0.06% Government National Mortgage Association Fixed 4.50% Sep 2039 Mortgage-Backed Security B US USD 108,108 102 $110,029 0.06% Government National Mortgage Association Fixed 4.50% May 2039 Mortgage-Backed Security B US USD 102,507 102 $104,333 0.05% Freddie Mac REMICS Fixed 5.00% Dec 2034 Mortgage-Backed Security B US USD 89,882 104 $93,706 0.05% MEG Energy Corp Fixed 7.13% Feb 2027 144A Corporate B CA USD 70,000 101 $70,496 0.04% Western Midstream Operating LP Fixed 4.55% Feb 2030 Corporate B US USD 75,000 87 $64,875 0.03% Freddie Mac REMICS Fixed 5.50% Aug 2036 Mortgage-Backed Security B US USD 56,019 107 $59,824 0.03% Fannie Mae REMICS Fixed 4.50% Dec 2041 Mortgage-Backed Security B US USD 51,137 103 $52,766 0.03% Fannie Mae Pool MA3894 Fixed 4.00% Sep 2031 Mortgage-Backed Security B US USD 48,070 102 $48,879 0.02% Fannie Mae Pool AB5459 Fixed 4.00% Jun 2042 Mortgage-Backed Security B US USD 48,660 97 $47,331 0.02% Fannie Mae Pool MA1050 Fixed 4.50% Mar 2042 Mortgage-Backed Security B US USD 36,076 99 $35,634 0.02% Freddie Mac REMICS Fixed 4.50% Jul 2041 Mortgage-Backed Security B US USD 24,120 104 $25,159 0.01% SCC Power PLC Fixed 4.00% May 2032 144A Corporate B GB USD 219,925 10 $21,993 0.01% Freddie Mac Gold Pool T60392 Fixed 4.00% Oct 2041 Mortgage-Backed Security B US USD 18,213 98 $17,900 0.01% Freddie Mac REMICS Floating Jan 2041 Mortgage-Backed Security B US USD 18,652 91 $16,934 0.01% Freddie Mac REMICS Fixed 4.00% Jun 2041 Mortgage-Backed Security B US USD 14,310 99 $14,098 0.01% Government National Mortgage Association Floating Mar 2034 Mortgage-Backed Security B US USD 9,399 113 $10,648 0.01% Freddie Mac Gold Pool G01840 Fixed 5.00% Jul 2035 Mortgage-Backed Security B US USD 8,417 105 $8,861 0.00% Digicel Group Holdings Ltd Fixed 8.00% Apr 2025 144A Corporate B JM USD 6,900 70 $4,824 0.00% OAS Finance Ltd Fixed 8.88% Apr 2049 Corporate B VG USD 600,000 0 $1,500 0.00% OAS Finance Ltd Fixed 8.88% Apr 2049 144A Corporate B VG USD 400,000 0 $1,000 0.00% Foresight Other Equities S US USD 202 18 $3,627 0.00% Tapstone Energy Common Units Energy S US USD 1,579 2 $3,584 0.00% Cash & Equivalents Cash C US USD - - $3,333,301 1.70% Read Important Investment Disclosures Read Important Investment Disclosures Sector Allocation (Fixed) As of: 06/30/2022 View Allocation Details Allocation Details Beutel Goodman Core Plus Bond Fund (ADLIX) Sector Allocation (Fixed Income) Credit Allocation Sector Sort Order Fund Bloomberg US Aggregate Bond Index U.S. Agency 10 0.00% 1.30% U.S. Treasury 20 22.37% 40.54% Sovereign Debt 30 0.00% 4.03% Corporate 60 49.35% 23.98% Investment Grade 70 42.55% 23.98% Non-Investment Grade & Not Rated 100 6.80% 0.00% Mortgage-Backed Security 130 24.22% 29.80% Asset-Backed Security 170 2.00% 0.35% Municipal Bond 180 0.36% 0.00% Other Bonds 190 0.00% 0.00% Interest Rate Futures 200 0.00% 0.00% Equity Futures 210 0.00% 0.00% Swaps, Caps, and Floors 220 0.00% 0.00% Preferred Stock 230 0.00% 0.00% Options 240 0.00% 0.00% Other Sectors 250 0.00% 0.00% Cash 270 1.70% As of: 06/30/2022 Credit 06/30/2022 Treasury 22.76% Agency 17.30% AAA 0.48% AA 8.14% A 15.74% BBB 28.21% BB 6.33% B 0.92% CCC 0.00% CC 0.00% C 0.00% D 0.00% Not Rated 0.10% As of: 06/30/2022 Read Important Investment Disclosures Investment Approach Investment Approach Beutel Goodman Core Plus Bond Fund Our fixed income team has the experience and expertise to effectively interpret the yield curve and prevailing interest rate environment. Employing proprietary tools in a risk-focused process, our insights add value to the benchmark over an economic cycle. We continually challenge the herd consensus and search for opportunities where the market has mispriced risk and reward. Our fixed income team: Forecasts interest rates and assesses optimal duration and positioning of maturities on the yield curve Conducts rigorous independent credit research to identify high quality corporate bonds that meet our strict investment criteria Considers risk before reward Looks beyond the numbers to consider how ESG factors may impact companies over the long term Beutel Goodman Core Plus Bond Fund Introduction An introduction to Beutel Investment Management and the AMG Beutel Goodman Core Plus Bond Fund View Webcast About About Beutel Goodman Background Founded in 1967, Beutel, Goodman & Company Ltd. (BG) is an independent value-focused investment manager that serves institutional, private wealth and retail clients. The firm’s equity strategies use bottom-up, fundamental research to invest in high-quality companies trading at discounts to their business value. BG takes a disciplined, team-based approach to fixed income, seeking to add value through management of duration, yield curve and credit risk. Learn More More Funds From Beutel Goodman APINX Beutel Goodman International Equity Fund The Fund seeks to provide long-term capital appreciation by investing in non-U.S. companies. View Fund Details Read Important Investment Disclosures Founded 1967 Headquarters Toronto, Canada Affiliate Since 2005 Discover how the boutique advantage helps generate alpha. Learn More About AMG