FQ Global Risk-Balanced Fund  (MMAFX)

Fund Overview

Fund Overview

Share Class

Z

NAV | as of 10/18/2019

$16.45
-$0.01 (-0.06%)

Overall Morningstar Rating



Rated against 229 Tactical Allocation funds as of 09/30/2019

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Growth of $10,000 (Hypothetical)

Since Inception 11/18/1988 to 09/30/2019 = $62,154.14

  • 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.

Objective

The Fund seeks to maximize total return by investing in a diversified, risk-balanced global market portfolio with exposure to global equities, sovereign debt, inflation-protected securities and commodities.

Why Consider

  • Focus on risk-balanced exposure to global markets may serve as a core allocation within an investor’s broader asset allocation or complement a traditionally managed balanced fund
  • Seeks to provide greater capital loss protection during down markets than traditional balanced portfolios, as well as participate in market gains
  • Employs a proprietary, dynamic allocation process designed by an experienced boutique manager known for its systematic, theory based investment processes

Documents

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Edgar Peters

Edgar Peters

Partner, Investments

See Our Approach Read Bio
Dori Levanoni

Dori Levanoni

Partner, Investments

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. Returns for periods less than one year are not annualized.

Expense Ratios

  • Gross Expense Ratio: 1.20%
  • Net Expense Ratio: 1.12%
  • Expense Cap Expiration Date: 03/01/2020

Distributions & Pricing


    • Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
      Dec 27, 2018 $0.354900 $0.354900
      Dec 27, 2017 $0.107600 $0.107600
      Dec 27, 2016 $0.227300 $0.227300
      Dec 28, 2015 $0.263400 $0.263400
      Dec 26, 2014 $0.431600 $0.431600
      Dec 26, 2012 $0.455600 $0.455600
      Dec 27, 2011 $0.563400 $0.563400
      Dec 28, 2010 $0.575700 $0.575700
      Dec 28, 2009 $0.098200 $0.098200
      Dec 26, 2008 $0.480400 $0.480400
      Dec 26, 2007 $0.475000 $0.475000
      Sep 25, 2007 $0.030000 $0.030000
      Jun 26, 2007 $0.040000 $0.040000
      Mar 27, 2007 $0.040000 $0.040000
      Dec 26, 2006 $0.030000 $0.030000
      Sep 26, 2006 $0.020000 $0.020000
      Jun 27, 2006 $0.125000 $0.125000
      Mar 28, 2006 $0.125000 $0.125000
      Dec 27, 2005 $0.429000 $0.429000
      Sep 27, 2005 $0.040000 $0.040000
      Jun 27, 2005 $0.110000 $0.110000
      Mar 28, 2005 $0.037000 $0.037000
      Jan 13, 2005 $0.002000 $0.002000
      Sep 30, 2004 $0.005000 $0.005000
      Jun 30, 2004 $0.005000 $0.005000
      Mar 31, 2004 $0.005000 $0.005000
      Sep 17, 2003 $0.055700 $0.055700
      Jun 30, 2003 $0.006000 $0.006000
      Mar 31, 2003 $0.003000 $0.003000
      Dec 20, 2002 $0.053000 $0.053000
      Sep 30, 2002 $0.003000 $0.003000
      Jun 28, 2002 $0.003000 $0.003000
      Mar 28, 2002 $0.005000 $0.005000
      Dec 20, 2001 $0.105460 $0.105460
      Oct 30, 2001 $0.004600 $0.004600
      Sep 28, 2001 $0.002500 $0.002500
      Jun 29, 2001 $0.030000 $0.030000
      Dec 15, 2000 $0.506740 $0.147790 $0.011750 $0.347200
      Oct 25, 2000 $0.870000 $0.870000
      Sep 29, 2000 $0.150000 $0.150000
      Jun 30, 2000 $0.140000 $0.140000
      Mar 31, 2000 $0.180000 $0.180000
      Dec 15, 1999 $1.176700 $0.073300 $0.105400 $0.998000
      Oct 26, 1999 $0.200000 $0.200000
      Sep 30, 1999 $0.150000 $0.150000
      Jun 30, 1999 $0.150000 $0.150000
      Mar 31, 1999 $0.120000 $0.120000
      Dec 15, 1998 $1.053000 $0.076300 $0.976700
      Jun 30, 1998 $0.120000 $0.120000
      Mar 31, 1998 $0.120000 $0.120000
      Dec 15, 1997 $0.304590 $0.076000 $0.024010 $0.204580
      Oct 31, 1997 $0.380000 $0.380000
      Sep 30, 1997 $0.170000 $0.170000
      Jun 30, 1997 $0.120000 $0.120000
      Mar 31, 1997 $0.110000 $0.110000
      Dec 13, 1996 $1.929296 $0.120000 $0.137774 $1.671522
      Sep 30, 1996 $0.100000 $0.100000
      Jul 31, 1996 $0.110000 $0.110000
      Apr 30, 1996 $0.160000 $0.160000
      Dec 29, 1995 $0.640409 $0.070000 $0.160409 $0.410000
      Oct 31, 1995 $0.090000 $0.090000
      Jul 31, 1995 $0.180000 $0.180000
      Apr 28, 1995 $0.150000 $0.150000
      Dec 30, 1994 $0.113700 $0.080300 $0.033400
      Oct 31, 1994 $0.140000 $0.040000 $0.100000
      Apr 29, 1994 $0.010000 $0.010000
      Dec 30, 1993 $0.121400 $0.090000 $0.031400
      Oct 29, 1993 $0.080000 $0.050000 $0.030000
      Jul 30, 1993 $0.080000 $0.080000
      Apr 30, 1993 $0.110000 $0.100200 $0.009800
      Dec 31, 1992 $0.070200 $0.030000 $0.040200
      Oct 30, 1992 $0.230000 $0.120000 $0.110000
      Jul 31, 1992 $0.120000 $0.120000
      Apr 30, 1992 $0.110000 $0.110000
      Jan 2, 1992 $0.060800 $0.051200 $0.009600
      Oct 31, 1991 $0.402600 $0.364600 $0.038000
      Dec 31, 1990 $0.090000 $0.090000
      Oct 31, 1990 $0.465700 $0.438300 $0.027400
      Dec 29, 1989 $0.095000 $0.095000
      Oct 31, 1989 $0.529600 $0.386900 $0.142700
      Dec 30, 1988 $0.063500 $0.063500

Risk & Return Stats

As of: 09/30/2019

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Portfolio & Holdings

Portfolio & Holdings

Target Allocation

As of: 09/30/2019

Very Low Low Medium High Very High
Developed Market Equities 41.90% 36.00% 29.80% 23.60% 17.30%
Small Cap 14.00% 12.20% 10.30% 8.50% 6.60%
Emerging Market Growth 11.90% 10.30% 8.80% 7.20% 5.60%
REITs 7.00% 6.00% 5.10% 4.10% 3.20%
High Yield 30.00% 24.30% 18.50% 12.80% 7.00%
Long Duration Sovereign Bonds 35.40% 52.40% 69.50% 86.50% 103.60%
TIPS 15.00% 18.40% 21.80% 25.20% 28.60%
Commodities 18.00% 17.00% 16.00% 15.00% 14.00%
Tail Risk Hedging (as % of NAV)
Options Overlay 100.00% 85.00% 70.00% 55.00% 40.00%

Investment Approach

Investment Approach

FQ Global Risk-Balanced Fund

The AMG FQ Global Risk-Balanced Fund is a global tactical asset allocation fund. The Fund's strategy is built on the premise that global investors are looking to build core portfolios that:

  • Provide broad coverage of the global markets
  • Participate in long-run, global economic growth
  • Diversify against general market declines in order to seek to preserve capital

To accomplish these objectives, FQ actively manages the overall risk in the Fund's portfolio. They:

  • Invest in complementary asset classes with a focus on asset classes that have exhibited low correlation with each other during certain economic time periods
  • Tactically reposition the portfolio to reflect changes in the global economic landscape. This Fund can be used as a complement to traditional balanced fund management or as the core allocation within an investor’s broader asset allocation

Additional Fund Highlights

Experienced boutique manager known for its systematic, theory based investment processes


Understanding Market Participants

 
First Quadrant is not trying to win the investment management rat race of acquiring fundamental data just slightly before other managers, they have chosen to focus their efforts on understanding how market participants will evaluate those fundamentals. This offers a different perspective and, what they believe, are different results.
Read Blog

Active Management: The Boutique Advantage

 
In the debate over active investment management, the importance of boutiques is often overlooked. Recent research illustrates the edge that boutiques enjoy, and the key characteristics linked to their success.
Watch Video

About

About First Quadrant

Background

First Quadrant (FQ) is an innovative boutique investment firm recognized for excellence in dynamic asset allocation and equity strategies. FQ employs a systematic, theory-based investment process and serves a global, primarily institutional client base.

Learn More

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Founded

1988


Headquarters

Pasadena, CA


Affiliate Since

1996


AUM

$21.3B

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