Fund Overview

Fund Overview

Share Class

N

NAV | as of 09/29/2023

$26.42
-$0.17 (-0.64%)

Morningstar | Style Box

V B G L M S

Growth of $10,000 (Hypothetical)

Since Inception 04/23/1987 to 08/31/2023 = $445,396.06

  • 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 800.548.4539 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

Seeks capital appreciation

Why Consider

  • Provides investors with exposure to a portfolio of undervalued small cap companies that demonstrate positive business momentum
  • Employs a fundamental, research-oriented investment process that is built on the belief that a company’s ability to generate consistent, long-term sustainable earnings growth will drive enhanced stock price performance over time
  • Manages risk through portfolio diversification and a strong sell discipline

Daniel L. Miller, CFA

PARTNER AND DIRECTOR OF EQUITIES

Jeffrey O. Whitney, CFA

PARTNER, PORTFOLIO MANAGER

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 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: 1.18%
  • Net Expense Ratio: 1.15%
  • Expense Cap Expiration Date: 05/01/2024

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Dec 15, 2022 $0.433300 $0.150800 $0.127800 $0.154700
Dec 15, 2021 $0.633800 $0.031900 $0.526100 $0.075800
Aug 05, 2021 $3.672300 $0.043300 $2.370800 $1.258200
Dec 09, 2020 $11.525300 $0.079700 $0.579700 $10.865900
Dec 16, 2019 $2.630100 $0.091500 $2.538600
Dec 27, 2018 $4.635700 $0.384900 $4.250800
Dec 27, 2017 $2.968000 $0.756200 $2.211800
Dec 27, 2016 $0.009900 $0.009900
Dec 28, 2015 $1.776200 $0.004400 $0.471400 $1.300400
Dec 26, 2014 $1.481400 $0.735600 $0.745800
Dec 26, 2013 $0.011200 $0.007400 $0.003800
Dec 26, 2008 $0.041900 $0.036100 $0.005800
Dec 28, 2007 $3.879790 $0.964210 $2.915580
Dec 14, 2006 $4.210000 $0.760000 $3.450000
Dec 16, 2005 $6.420000 $0.910000 $5.510000
Dec 16, 2004 $3.690000 $1.190000 $2.500000
Dec 19, 2003 $1.560000 $0.470000 $1.090000
Dec 08, 1999 $1.230000 $0.180000 $1.050000
Dec 08, 1998 $0.320000 $0.110000 $0.210000
Dec 16, 1997 $2.890000 $1.840000 $1.050000
Dec 18, 1996 $3.610000 $1.730000 $1.880000
Dec 27, 1995 $1.010000 $0.100000 $0.910000
Dec 22, 1994 $1.930000 $0.740000 $1.190000
Dec 29, 1993 $3.150000 $1.980000 $1.170000
Dec 29, 1992 $0.910000 $0.710000 $0.200000
Dec 26, 1991 $2.400000 $1.710000 $0.690000
Sep 16, 1991 $0.010000 $0.010000
Dec 11, 1990 $0.090000 $0.090000
Sep 17, 1990 $0.010000 $0.010000
Dec 28, 1989 $1.300000 $0.940000 $0.360000
Dec 30, 1988 $0.050000 $0.050000

Risk & Return Stats

As of: 08/31/2023

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.
2.89 1.66 0.15
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.
20.98 26.43 21.16
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.
0.65 0.11 0.30
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.
87.06 110.81 101.38
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.
87.48 100.39 100.03
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.
0.89 1.03 1.02
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.
93.78 94.69 94.00
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.
5.79 6.14 5.20
View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 06/30/2023

Group 1 Automotive Inc 3.15%
Selective Insurance Group Inc 2.40%
Independence Realty Trust Inc 2.26%
Boot Barn Holdings Inc 2.20%
CBIZ Inc 2.03%
Terex Corp 1.95%
Comfort Systems USA Inc 1.95%
Federal Agricultural Mortgage Corp 1.89%
Atkore Inc 1.81%
Integer Holdings Corp 1.75%
% in Top 10 Holdings 21.38%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Equity)

As of: 06/30/2023

View Allocation Details

Investment Approach

Investment Approach

GW&K Small Cap Value Fund

  • The Fund primarily invests in undervalued small cap companies
  • GW&K believes quality small cap companies trading at low valuation levels offer attractive opportunities for stock price appreciation over time.
  • Companies that can generate sustainable earnings growth possess these key attributes:
    • A high quality management team focused on enhancing long-term value for shareholders.
    • Experienced and motivated management
    • Improving business model
    • Catalyst for positive market revaluation
  • GW&K seeks to add value through a fundamental research process and proprietary screening. A disciplined long-term research focus seeks to identify well-managed, undervalued companies with improving fundamental and financial characteristics

Equity Style Analysis: Growth vs. Value

Value has shifted to outperform growth; will the trend continue?

Read Full Perspective

About

Background

GW&K Investment Management is a dynamic investment management firm that offers asset allocation, active equity, and fixed income investment solutions to help meet the needs of a diverse client base. GW&K’s founding principles of applying rigorous fundamental research, focusing on quality, and maintaining a long-term view still guide its investment process today.

Learn More

More Products From GW&K Investment Management

MBGVX

GW&K Core Bond ESG Fund

The Fund seeks to generate income and capital appreciation by primarily investing in a diversified portfolio of fixed income securities.

View Fund Details

TLEVX

GW&K Emerging Markets Equity Fund

Seeks to provide long-term capital appreciation by investing in companies located in emerging market countries.

View Fund Details

TYWVX

GW&K Emerging Wealth Equity Fund

Seeks to provide long-term capital appreciation by investing in emerging market companies and developed market companies that have emerging markets revenue exposure.

View Fund Details

MFDAX

GW&K Enhanced Core Bond ESG Fund

The Fund seeks to generate income and capital appreciation by primarily investing in a diversified portfolio of fixed income securities.

View Fund Details

MGFIX

GW&K ESG Bond Fund

The Fund seeks to generate income and capital appreciation by primarily investing in a diversified portfolio of fixed income securities.

View Fund Details

MBEAX

GW&K Global Allocation Fund

Long-term capital appreciation and moderate current income

View Fund Details

MGGBX

GW&K High Income Fund

The Fund seeks high income.

View Fund Details

MECAX

GW&K International Small Cap Fund

Seeks long-term capital appreciation.

View Fund Details

GWMTX

GW&K Municipal Bond Fund

The Fund seeks to provide current income, exempt from federal income tax, and capital preservation by primarily investing in a portfolio of high-quality municipal bonds.

View Fund Details

MESHX

GW&K Municipal Enhanced SMA Shares

View Fund Details

GWMNX

GW&K Municipal Enhanced Yield Fund

The Fund seeks to provide a high level of current income that is exempt from federal income taxes by primarily investing in municipal bonds.

View Fund Details

GWETX

GW&K Small Cap Core Fund

The Fund seeks to provide long-term capital appreciation by primarily investing in U.S. small cap stocks.

View Fund Details

GWGVX

GW&K Small/Mid Cap Core Fund

The Fund seeks to provide long-term capital appreciation by primarily investing in small to mid cap stocks exhibiting growth and value characteristics.

View Fund Details

ACWDX

GW&K Small/Mid Cap Growth Fund

The Fund seeks to provide long-term capital appreciation by investing in small to mid cap stocks exhibiting consistent, sustainable earnings growth.

View Fund Details

Founded

1974


Headquarters

Boston, MA


Affiliate Since

2008

Discover how the boutique advantage helps generate alpha.

Learn More About AMG