GW&K Municipal Bond Fund  (GWMTX)

Fund Overview

Fund Overview

Share Class

N

  • N

Morningstar | Style Box

L M E H M L

NAV | as of 09/21/2017

$11.70
-$0.01 (-0.09%)

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

Fund Inception 06/30/2009

YTD 1YR 3YR 5YR 10YR INCEP.
GWMTX 3.87 -0.84 2.74 2.74 - 4.57
Bloomberg Barclays 10-Year Municipal Bond Index 4.18 -0.41 3.56 3.40 5.13 5.13

Expense Ratios

  • Gross Expense Ratio: 0.78%
  • Net Expense Ratio: 0.72%
  • Expense Cap Expiration Date: 05/01/2018

Read Important Investment Disclosures

Objective

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.

Why Consider

  • Provides investors with exposure to an actively managed portfolio of primarily intermediate-term municipal bonds
  • Investment approach combines top-down analysis to respond to interest rate changes with bottom-up research focusing on security structure and credit ratings
  • The Fund focuses on the intermediate area of the yield curve to maintain flexibility and actively adjusts duration based on interest rate moves
Nancy C. Angell, CFA

Nancy C. Angell, CFA

Co-Director of Fixed Income

See Our Approach Read Bio
John B. Fox, CFA

John B. Fox, CFA

Co-Director of Fixed Income

See Our Approach Read Bio
Martin R. Tourigny, CFA

Martin R. Tourigny, CFA

Partner

See Our Approach Read Bio

Performance

Performance

Read Important Investment Disclosures

Returns & Distributions

as of 06/30/2017

    • Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
      Aug 28, 2017 $0.013000 $0.013000
      Jul 26, 2017 $0.013200 $0.013200
      Jun 27, 2017 $0.012400 $0.012400
      May 25, 2017 $0.012600 $0.012600
      Apr 25, 2017 $0.012500 $0.012500
      Mar 28, 2017 $0.013000 $0.013000
      Feb 23, 2017 $0.011300 $0.011300
      Jan 26, 2017 $0.012200 $0.012200
      Dec 27, 2016 $0.219200 $0.012100 $0.132300 $0.074800
      Nov 25, 2016 $0.011600 $0.011600
      Oct 26, 2016 $0.013100 $0.013100
      Sep 27, 2016 $0.009000 $0.009000
      Aug 26, 2016 $0.008400 $0.008400
      Jul 26, 2016 $0.012500 $0.012500
      Jun 27, 2016 $0.009500 $0.009500
      May 25, 2016 $0.009800 $0.009800
      Apr 26, 2016 $0.008500 $0.008500
      Mar 28, 2016 $0.009200 $0.009200
      Feb 24, 2016 $0.008100 $0.008100
      Jan 26, 2016 $0.010800 $0.010800
      Dec 28, 2015 $0.161900 $0.012300 $0.039800 $0.109800
      Nov 24, 2015 $0.012900 $0.012900
      Oct 27, 2015 $0.012600 $0.012600
      Sep 25, 2015 $0.011900 $0.011900
      Aug 26, 2015 $0.013100 $0.013100
      Jul 28, 2015 $0.012800 $0.012800
      Jun 25, 2015 $0.012500 $0.012500
      May 26, 2015 $0.012900 $0.012900
      Apr 27, 2015 $0.011800 $0.011800
      Mar 26, 2015 $0.010500 $0.010500
      Feb 24, 2015 $0.011000 $0.011000
      Jan 27, 2015 $0.013300 $0.013300
      Dec 26, 2014 $0.055000 $0.015300 $0.015200 $0.024500
      Nov 24, 2014 $0.013800 $0.013800
      Oct 28, 2014 $0.015500 $0.015500
      Sep 25, 2014 $0.015500 $0.015500
      Aug 26, 2014 $0.015700 $0.015700
      Jul 28, 2014 $0.014700 $0.014700
      Jun 25, 2014 $0.015200 $0.015200
      May 27, 2014 $0.015100 $0.015100
      Apr 25, 2014 $0.014800 $0.014800
      Mar 26, 2014 $0.014700 $0.014700
      Feb 25, 2014 $0.014000 $0.014000
      Jan 28, 2014 $0.016200 $0.016200
      Dec 26, 2013 $0.059200 $0.016300 $0.023100 $0.019800
      Nov 25, 2013 $0.013400 $0.013400
      Oct 28, 2013 $0.013700 $0.013700
      Sep 25, 2013 $0.012000 $0.012000
      Aug 27, 2013 $0.016300 $0.016300
      Jul 26, 2013 $0.015900 $0.015900
      Jun 25, 2013 $0.013900 $0.013900
      May 28, 2013 $0.015100 $0.015100
      Apr 25, 2013 $0.014800 $0.014800
      Mar 25, 2013 $0.013600 $0.013600
      Feb 26, 2013 $0.000000 $0.000000
      Feb 25, 2013 $0.011600 $0.011600
      Jan 28, 2013 $0.013300 $0.013300
      Dec 26, 2012 $0.097600 $0.016300 $0.030600 $0.050700
      Nov 27, 2012 $0.016700 $0.016700
      Oct 26, 2012 $0.016600 $0.016600
      Sep 25, 2012 $0.016800 $0.016800
      Aug 28, 2012 $0.016800 $0.016800
      Jul 26, 2012 $0.015300 $0.015300
      Jun 26, 2012 $0.014000 $0.014000
      May 25, 2012 $0.016200 $0.016200
      Apr 25, 2012 $0.016400 $0.016400
      Mar 27, 2012 $0.016800 $0.016800
      Feb 24, 2012 $0.014300 $0.014300
      Jan 26, 2012 $0.018600 $0.018600
      Dec 27, 2011 $0.065900 $0.020200 $0.029900 $0.015800
      Nov 25, 2011 $0.019100 $0.019100
      Oct 26, 2011 $0.020900 $0.020900
      Sep 27, 2011 $0.017800 $0.017800
      Aug 26, 2011 $0.022200 $0.022200
      Jul 26, 2011 $0.023200 $0.023200
      Jun 27, 2011 $0.018900 $0.018900
      May 25, 2011 $0.023900 $0.023900
      Apr 26, 2011 $0.026000 $0.026000
      Mar 28, 2011 $0.026200 $0.026200
      Feb 23, 2011 $0.024000 $0.024000
      Jan 26, 2011 $0.024100 $0.024100
      Dec 28, 2010 $0.096900 $0.027100 $0.022000 $0.047800
      Nov 24, 2010 $0.023800 $0.023800
      Oct 26, 2010 $0.022900 $0.022900
      Sep 27, 2010 $0.021700 $0.021700
      Aug 26, 2010 $0.026400 $0.026400
      Jul 27, 2010 $0.027400 $0.027400
      Jun 25, 2010 $0.026600 $0.026600
      May 25, 2010 $0.027500 $0.027500
      Apr 27, 2010 $0.028900 $0.028900
      Mar 26, 2010 $0.029300 $0.029300
      Feb 23, 2010 $0.025500 $0.025500
      Jan 26, 2010 $0.023000 $0.023000
      Dec 28, 2009 $0.087000 $0.032100 $0.054900
      Nov 24, 2009 $0.038600 $0.038600
      Oct 27, 2009 $0.027600 $0.027600
      Sep 25, 2009 $0.023000 $0.023000
      Aug 26, 2009 $0.018900 $0.018900
      Jul 28, 2009 $0.012802 $0.012802

Growth of $10,000 (Hypothetical)

Since Inception 06/30/2009 to 08/31/2017 = $14,502.06

  • 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 800.835.3879 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 (Fixed)

Quarter Ending: 06/30/2017

Arizona Water Infrastructure Finance Authority Fixed 1.82%
Commonwealth of Massachusetts Fixed 1.58%
State of Michigan Fixed 1.56%
State of Texas Fixed 1.45%
State of Washington Fixed 1.39%
City of New York NY Fixed 1.34%
Illinois Finance Authority Fixed 1.31%
Central Texas Turnpike System Fixed 1.26%
Chicago O'Hare International Airport Fixed 1.24%
Ohio Water Development Authority Water Pollution Control Loan Fund Fixed 1.24%
% in Top 10 Holdings 14.19%
View Holding Details Read Important Investment Disclosures

MPT Stats

Month Ending: 08/31/2017

View All Characteristics & Stats

Sector Allocation (Municipal)

Quarter Ending: 06/30/2017

Investment Approach

Investment Approach

GW&K Municipal Bond Fund

The Fund's active investment approach combines top-down analysis to respond to interest rate changes with bottom-up research focusing on security structure and credit ratings. The Fund uses fundamental research to seek to uncover and exploit inefficiencies in the investment-grade municipal bond market, primarily selecting investment-grade securities with a rating of at least BBB/Baa by a nationally recognized statistical rating organization such as Moody's Investors Service, Inc. or Standard & Poor's.

Additional Fund Highlight

GW&K has invested in municipal bonds since the firm's founding in 1974.


AMG Funds: A Consultative Partner to Investment Advisors

Jeffrey Cerutti, CEO, describes the breadth of AMG Funds’ product offerings. He discusses how the diverse manager array enables the firm to be diagnostic and consultative in representing strategies to advisors.
Watch Video

About

About GW&K Investment Management

Background

GW&K is a dynamic investment management firm that offers 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 Funds From GW&K Investment Management

MBGVX

GW&K Core Bond Fund

The Fund seeks to generate income and capital appreciation while helping to manage risk.

View Fund Details

MFDAX

GW&K Enhanced Core Bond Fund

The Fund seeks to achieve the highest level of income, as is consistent with the preservation of capital by primarily investing in a diversified portfolio of fixed income securities.

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

GWGIX

GW&K Small/Mid Cap 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

ATASX

GW&K U.S. Small Cap Growth Fund

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

View Fund Details

Founded

1974


Headquarters

Boston, MA


Affiliate Since

2008


AUM

$34.8B

Funds to Consider

HLMNX

Harding Loevner International Equity Portfolio

The Portfolio seeks long-term capital appreciation through investments in equity securities of companies based outside the United States.


Overall Morningstar Rating

Rated against 327 Foreign Large Growth funds as of 08/31/2017
★★★★

HLMNX
MSCI ACWI ex USA Index

Quarterly performance (%) data as of 06/30/2017

Fund Detail Read Important Investment Disclosures

ARDEX

River Road Dividend All Cap Value Fund

Seeks to provide high current income and, secondarily, long-term capital appreciation by investing primarily in a diversified, all cap portfolio of income producing equity securities.


Overall Morningstar Rating

Rated against 1099 Large Value funds as of 08/31/2017
★★★★

ARDEX
Russell 3000® Value Index

Quarterly performance (%) data as of 06/30/2017

Fund Detail Read Important Investment Disclosures

APINX

Pictet International Fund

The Fund seeks to provide long-term capital appreciation by investing in non-U.S. companies.


Overall Morningstar Rating

Rated against 590 Foreign Large Blend funds as of 08/31/2017
★★★★★

APINX
MSCI EAFE Index

Quarterly performance (%) data as of 06/30/2017

Fund Detail Read Important Investment Disclosures

Discover how AMG Funds brings more than 100 products from over 30 independent boutiques together under one flag.

Learn More About AMG Funds
  Back To Top