FQ Tax-Managed U.S. Equity Fund  (MFQTX)

Fund Overview

Fund Overview

Share Class

I

  • I

Morningstar | Style Box

V B G L M S

NAV | as of 09/21/2017

$28.34
-$0.07 (-0.25%)

Overall Morningstar Rating



Rated against 1231 Large Blend funds as of 08/31/2017

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Quarterly Performance (%) |
vs. Benchmark as of 06/30/2017

Fund Inception 12/18/2000

YTD 1YR 3YR 5YR 10YR INCEP.
Returns before taxes on distributions 7.05 16.82 6.93 13.71 6.13 6.88
Returns after taxes on distributions 7.05 16.50 6.76 13.55 6.00 6.76
Returns after taxes on distributions & sale of shares 3.99 9.76 5.35 11.00 4.92 5.73
Russell 3000® Index 8.93 18.51 9.10 14.58 7.26 6.19

Expense Ratios

  • Gross Expense Ratio: 1.01%
  • Net Expense Ratio: 0.89%
  • Expense Cap Expiration Date: 03/01/2018

Read Important Investment Disclosures

Objective

The Fund seeks to achieve long-term after-tax returns by gaining exposure to U.S. stocks.

Why Consider

  • Provides investors exposure to a portfolio of securities that broadly reflect the characteristics of the Russell 3000® Index in terms of industry, earnings growth, valuation and other similar factors
  • Strives to minimize taxable distributions to shareholders by employing a variety of tax-sensitive investment techniques
  • Investment approach based on belief that significant and recurring fundamental market inefficiencies and behavioral biases can be exploited
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 06/30/2017

    • Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
      Dec 27, 2016 $0.306200 $0.306200
      Dec 28, 2015 $0.134000 $0.134000
      Dec 26, 2014 $0.090800 $0.090800
      Dec 26, 2013 $0.064800 $0.064800
      Dec 26, 2012 $0.146200 $0.146200
      Dec 27, 2011 $0.013700 $0.013700
      Dec 28, 2010 $0.055100 $0.055100
      Dec 28, 2009 $0.033000 $0.033000
      Dec 26, 2008 $0.152600 $0.152600
      Dec 26, 2007 $0.073500 $0.073500
      Jul 26, 2007 $0.010300 $0.010300
      Dec 27, 2005 $0.023000 $0.023000
      Dec 28, 2004 $0.102000 $0.102000
      Jul 28, 2003 $0.040000 $0.040000
      Dec 26, 2002 $0.065000 $0.065000

Growth of $10,000 (Hypothetical)

Since Inception 12/18/2000 to 08/31/2017 = $30,477.18

  • 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 (Equity)

Quarter Ending: 06/30/2017

Apple Inc 3.24%
Visa Inc 2.87%
MasterCard Inc, Class A 2.59%
Berkshire Hathaway Inc, Class B 2.38%
Alaska Air Group Inc 2.22%
Microsoft Corp 2.14%
UnitedHealth Group Inc 2.08%
BWX Technologies Inc 1.83%
Altria Group Inc 1.77%
Tyson Foods Inc, Class A 1.63%
% in Top 10 Holdings 22.75%
View Holding Details Read Important Investment Disclosures

MPT Stats

Month Ending: 08/31/2017

View All Characteristics & Stats

Sector Allocation (Equity)

Quarter Ending: 06/30/2017

Investment Approach

Investment Approach

FQ Tax-Managed U.S. Equity Fund

The Fund strives to minimize taxable distributions to shareholders. First Quadrant may apply a variety of tax-sensitive investment techniques including:

  • Investing in stocks that pay below-average dividends
  • Employing a buy-and-hold strategy designed to avoid realizing short-term capital gains and defer the realization of long-term capital gains as long as possible
  • Realizing losses on specific securities or specific tax lots of securities to offset realized gains

Additional Fund Highlight

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About

About First Quadrant

Background

First Quadrant (FQ) is an innovative investment management boutique 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

$25.1B

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