Beutel Goodman International Equity Fund  (APINX)

Fund Notice

Effective March 19, 2021, the subadviser of AMG Managers Pictet International Fund (the "Fund") changed from Pictet Asset Management Limited to Beutel, Goodman & Company Ltd. ("Beutel Goodman"). The appointment of Beutel Goodman 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 Beutel Goodman International Equity Fund and changed its 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

NAV | as of 06/23/2021

$11.39
-$0.06 (-0.52%)

Morningstar | Style Box

V B G L M S

Growth of $10,000 (Hypothetical)

Since Inception 04/14/2014 to 05/31/2021 = $14,557.68

  • 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 or visit our website at amgfunds.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

  • 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
KC Parker, MBA, CFA

KC Parker, MBA, CFA

Vice President, U.S. and International Equities

See Our Approach Read Bio
Stanley Wu, MBA, CFA

Stanley Wu, MBA, CFA

Vice President, U.S. and International Equities

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 or visit our website at amgfunds.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: 1.35%
  • Net Expense Ratio: 1.29%
  • Expense Cap Expiration Date: 03/01/2023

Distributions & Pricing


    • Calendar Year Distributions

    • Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
      Dec 16, 2019 $0.234300 $0.234300
      Dec 27, 2018 $0.966000 $0.200500 $0.765500
      Dec 27, 2017 $0.509500 $0.182200 $0.146700 $0.180600
      Dec 27, 2016 $0.275200 $0.071000 $0.199800 $0.004400
      Dec 30, 2015 $0.083800 $0.019000 $0.064800
      Dec 30, 2014 $0.058000 $0.033400 $0.024600

Risk & Return Stats

As of: 05/31/2021

View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 03/31/2021

Konecranes Oyj, Class A 4.31%
IMI PLC 4.31%
Koninklijke KPN NV 4.03%
Cie Generale des Etablissements Michelin SCA 3.86%
DBS Group Holdings Ltd 3.77%
Carlsberg AS 3.76%
GlaxoSmithKline PLC 3.70%
Julius Baer Group Ltd 3.70%
HeidelbergCement AG 3.69%
Ampol Ltd 3.63%
% in Top 10 Holdings 38.76%
View Holding Details Read Important Investment Disclosures

Regional Allocation

As of: 03/31/2021

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 we invest in companies at discounts to their business value. We work from a foundation that stocks purchased at a discount to business value provide a margin of safety. This 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. We build concentrated portfolios of equity holdings of companies in which we have high conviction with a long-term investment horizon.


Beutel Goodman International Equity Fund Introduction

 
An introduction to Beutel Goodman and the AMG Beutel Goodman International Equity Fund
Read More

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

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Founded

1967


Headquarters

Toronto, Canada


Affiliate Since

2005

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