FQ Long-Short Equity Fund  (FQUAX)

Fund Overview

Fund Overview

Share Class

N

  • N

NAV | as of 03/21/2019

$15.35
+$0.12 (+0.79%)

Quarterly Performance (%) |
vs. Benchmark as of 12/31/2018

Fund Inception 03/01/2006

YTD 1YR 3YR 5YR 10YR INCEP.
FQUAX 7.84 7.84 10.78 8.01 12.16 7.03
Russell 3000® Index -5.24 -5.24 8.97 7.91 13.18 7.46
50% Russell 3000/50% ICE BofAML 0-3 Month US Treasury Bill -1.42 -1.42 5.12 4.42 6.96 4.73
View Monthly & Quarterly Performance Details

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 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.

Expense Ratios

  • Gross Expense Ratio: 2.98%
  • Net Expense Ratio: 2.87%
  • Expense Cap Expiration Date: 03/01/2020

Read Important Investment Disclosures

Objective

The Fund seeks long-term capital appreciation by gaining long and short exposure to stocks of U.S. companies.

Why Consider

  • The Fund invests in long and short equity positions in sectors, industries and companies based on the subadviser's assessment of relative attractiveness
  • Implements a systematic portfolio protection structure through an option overlay strategy and reduced exposure during periods of stressed markets
  • Constructs portfolio using a proprietary multi-factor quantitative model that combines a top-down analysis of market and economic conditions with a bottom-up stock selection process
Jia Ye, Ph.D.

Jia Ye, Ph.D.

Partner, Investments

See Our Approach Read Bio
David Chrisman, Ph.D., CFA

David Chrisman, Ph.D., CFA

Director, Investments

See Our Approach Read Bio

Performance

Performance

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Returns & Distributions

As of 12/31/2018

    • Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
      Dec 27, 2018 $0.505700 $0.091000 $0.414700
      Dec 27, 2017 $4.155500 $2.993000 $1.162500
      Sep 26, 2017 $0.007800 $0.007800
      Jun 27, 2017 $0.006200 $0.006200
      Mar 28, 2017 $0.091000 $0.091000
      Dec 27, 2016 $0.806700 $0.054700 $0.141100 $0.610900
      Sep 27, 2016 $0.034900 $0.034900
      Jun 27, 2016 $0.037000 $0.037000
      Mar 28, 2016 $0.036300 $0.036300
      Dec 28, 2015 $1.622100 $0.037600 $1.584500
      Sep 25, 2015 $0.027400 $0.027400
      Jun 25, 2015 $0.032900 $0.032900
      Mar 26, 2015 $0.075400 $0.075400
      Dec 26, 2014 $0.010700 $0.010700
      Sep 25, 2014 $0.034200 $0.034200
      Jun 25, 2014 $0.034500 $0.034500
      Mar 26, 2014 $0.027400 $0.027400
      Dec 26, 2013 $0.025300 $0.025300
      Sep 25, 2013 $0.033800 $0.033800
      Jun 25, 2013 $0.051300 $0.051300
      Mar 25, 2013 $0.041700 $0.041700
      Dec 26, 2012 $0.060600 $0.060600
      Sep 25, 2012 $0.057100 $0.057100
      Jun 26, 2012 $0.052300 $0.052300
      Mar 27, 2012 $0.056800 $0.056800
      Dec 27, 2011 $0.129800 $0.129800
      Dec 28, 2010 $0.089100 $0.089100
      Dec 28, 2009 $0.112500 $0.112500
      Dec 26, 2008 $0.128300 $0.128300
      Dec 26, 2007 $1.741100 $0.135000 $0.478000 $1.128100
      Dec 26, 2006 $1.672800 $0.157200 $0.676500 $0.839100

Growth of $10,000 (Hypothetical)

Since Inception 03/01/2006 to 02/28/2019 = $24,529.31

  • 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.

Top Holdings (Long)

As of: 12/31/2018

Ciena Corp 1.07%
MGIC Investment Corp 1.06%
Allison Transmission Holdings Inc 1.06%
Continental Building Products Inc 1.03%
Gentex Corp 1.01%
Portland General Electric Co 1.01%
Lexington Realty Trust 1.00%
PS Business Parks Inc 1.00%
Micron Technology Inc 0.97%
Amedisys Inc 0.96%
% in Top 10 Holdings 10.17%
View Holding Details Read Important Investment Disclosures

MPT Stats

As of: 02/28/2019

View All Characteristics & Stats

Investment Allocation

As of: 12/31/2018

Investment Approach

Investment Approach

First Quadrant (FQ) believes that significant and recurring fundamental market inefficiencies present opportunities for profit. With inefficiencies changing over time, FQ believes it’s necessary to conduct ongoing research to keep the investment process ahead of the curve. FQ also believes that market inefficiencies exist for a variety of reasons, including:

  • In certain dimensions of the market, information is not always immediately reflected in the price of securities
  • Certain information that is given either too much or too little weight in investors’ decisions
  • Investors fail to respond efficiently to changes in various risk attributes

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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.

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Founded

1988


Headquarters

Pasadena, CA


Affiliate Since

1996


AUM

$20B

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