Fund Overview

Share Class

Z

NAV | as of 03/27/2024

$10.40
+$0.05 (+0.48%)

Morningstar | Style Box

V B G L M S

Growth of $10,000 (Hypothetical)

Since Inception 09/29/2017 to 02/29/2024 = $11,722.37

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.
SEE ALL PERFORMANCE

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 800.548.4539 or visit our website at wealth.amg.com. 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.

Objective

The Fund seeks to provide long-term capital appreciation by investing in non-U.S. companies.

Why Consider

The Fund may be appropriate for your overall investment allocation if you are looking for opportunistic all-cap exposure to non-U.S. companies primarily located in developed markets.

  • May be appropriate for investors seeking a high conviction portfolio of non-U.S. companies primarily located in developed markets
  • Utilizes a disciplined, team-based research process seeking long-term capital appreciation
  • Employs a bottom-up fundamental approach that focuses on buying high-quality companies trading at a significant discount to their intrinsic value

Performance

Performance

Read Important Investment Disclosures

Returns

Trailing 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 800.548.4539 or visit our website at wealth.amg.com. 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.

Expense Ratios

  • Gross Expense Ratio: 1.52%
  • Net Expense Ratio: 0.76%
  • Expense Cap Expiration Date: 03/01/2025

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Dec 14, 2023 $0.282300 $0.282300
Dec 15, 2022 $0.392800 $0.392800
Dec 15, 2021 $0.255100 $0.255100
Dec 16, 2020 $0.057500 $0.057500
Dec 16, 2019 $0.281000 $0.281000
Dec 27, 2018 $0.978100 $0.212600 $0.765500
Dec 27, 2017 $0.522800 $0.195500 $0.146700 $0.180600

Risk & Return Statistics

As of: 02/29/2024

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.
-2.80 -1.99 -
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.
17.05 20.08 -
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.
-0.08 0.14 -
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.
83.15 98.68 -
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.
99.95 104.14 -
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.
0.96 1.08 -
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.
86.41 90.13 -
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.
6.33 6.45 -
View All Characteristics & Statistics

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 12/31/2023

Konecranes Oyj, Class A 5.54%
Ampol Ltd 5.05%
dormakaba Holding AG 4.67%
IMI PLC 4.48%
Akzo Nobel NV 4.43%
Roche Holding AG 4.09%
Carlsberg AS 3.95%
Atea ASA 3.94%
Smiths Group PLC 3.77%
Cie Generale des Etablissements Michelin SCA 3.60%
% in Top 10 Holdings 43.52%
View Holding Details Read Important Investment Disclosures

Regional Allocation

As of: 12/31/2023

View Allocation Details

About the Affiliate

About Beutel Goodman

Founded in 1967, Beutel, Goodman & Company Ltd. 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. Beutel Goodman takes a disciplined, team-based approach to fixed income, seeking to add value through management of duration, yield curve, and credit risk.

Learn More About Beutel Goodman's Approach

FOUNDED

1967

AMG AFFILIATE SINCE

2005

HEADQUARTERS

Toronto, Canada

Portfolio Managers

KC Parker, MBA, CFA

VICE PRESIDENT, U.S. AND INTERNATIONAL EQUITIES

Read full bio
Stanley Wu, MBA, CFA

VICE PRESIDENT, U.S. AND INTERNATIONAL EQUITIES

Read full bio

Investment Approach

Investment Approach

Beutel Goodman International Equity Fund

Beutel Goodman has been a dedicated and disciplined adherent to the value style since 1967. The preservation of capital is a central tenet of a value investment philosophy, which espouses that risk is absolute and the avoidance of a permanent loss of capital is paramount.

As bottom-up value investors, Beutel Goodman invests in companies at discounts to their business value. They work from a foundation that stocks purchased at a discount to business value provide a margin of safety. This foundation, combined with a focus on quality companies with stable, growing businesses with strong balance sheets, should mitigate the potential of capital loss. Investments are made when there is a sufficient discount to business value to mitigate the loss of capital in the event of adverse circumstances. Business value is defined simply as the present value of sustainable free cash flow. Beutel Goodman builds concentrated portfolios of equity holdings of companies in which they have high conviction with a long-term investment horizon.

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