Fund Overview

Fund Overview

Share Class

Common

NAV | as of 12/06/2022

$18.51
-$0.09 (-0.48%)

Morningstar | Style Box

V B G L M S

Overall Morningstar Rating


Rated against 155 Global Large-Stock Value funds as of 11/30/2022

View Morningstar Details

Morningstar Analyst Rating

as of 6/28/2022 Download Analyst Rating Report

Growth of $10,000 (Hypothetical)

Since Inception 12/08/1993 to 11/30/2022 = $85,533.47

  • 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.

Objective

The Fund seeks long-term growth of capital.

Why Consider

  • The fund may be appropriate for long-term value investors looking to gain exposure to both U.S. and international equity investments.
  • The Fund seeks to reduce currency risk by hedging its perceived foreign currency exposure back into the U.S. dollar where practicable.
  • Invests, based on Tweedy, Browne’s fundamental research, in a diversified portfolio of stocks from a variety of industries and countries across market capitalizations.
  • Utilizes a value investing approach popularized by legendary investor Benjamin Graham.

Roger R. de Bree

MANAGING DIRECTOR

Andrew Ewert

MANAGING DIRECTOR

Frank H. Hawrylak, CFA

MANAGING DIRECTOR

Jay Hill, CFA

MANAGING DIRECTOR

Thomas H. Shrager

MANAGING DIRECTOR

John D. Spears

MANAGING DIRECTOR

Robert Q. Wyckoff, Jr.

MANAGING DIRECTOR

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 800.835.3879 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.

Expense Ratios

  • Gross Expense Ratio: 1.39%
  • Net Expense Ratio: 1.34%
  • Expense Cap Expiration Date: 07/31/2023

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Dec 10, 2021 $2.381000 $0.179000 $0.006000 $2.196000
Dec 11, 2020 $0.310000 $0.123000 $0.187000
Dec 12, 2019 $0.935000 $0.197000 $0.738000
Dec 27, 2018 $4.606000 $0.490000 $0.244000 $3.872000
Dec 27, 2017 $0.375000 $0.185000 $0.041000 $0.149000
Dec 28, 2016 $0.795000 $0.190000 $0.605000
Dec 29, 2015 $0.850000 $0.214000 $0.636000
Dec 29, 2014 $1.563000 $0.264000 $1.299000
Dec 27, 2013 $1.492000 $0.210000 $1.282000
Dec 27, 2012 $0.877000 $0.198000 $0.679000
Dec 29, 2011 $0.690000 $0.245000 $0.445000
Dec 30, 2010 $1.206000 $0.194000 $1.012000
Dec 30, 2009 $0.207000 $0.207000
Dec 30, 2008 $2.065000 $0.201000 $1.864000
Dec 28, 2007 $2.530000 $0.185000 $2.345000
Dec 28, 2006 $2.203000 $0.272000 $1.931000
Dec 28, 2005 $2.122000 $0.330000 $1.792000
Dec 28, 2004 $0.749300 $0.388700 $0.360600
Dec 29, 2003 $0.100000 $0.100000
Dec 27, 2002 $0.472100 $0.100100 $0.025000 $0.347000
Dec 27, 2001 $0.976500 $0.081100 $0.262500 $0.632900
Dec 28, 2000 $1.182500 $0.103200 $0.217200 $0.862100
Dec 22, 1999 $0.806900 $0.275300 $0.531600
Dec 29, 1998 $0.392100 $0.141100 $0.041700 $0.209300
Dec 29, 1997 $0.599100 $0.168000 $0.222400 $0.208700
Dec 30, 1996 $0.586500 $0.171100 $0.160000 $0.255400
Dec 29, 1995 $0.126000 $0.106000 $0.005000 $0.015000
Dec 30, 1994 $0.064000 $0.064000

Risk & Return Stats

As of: 11/30/2022

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.
-3.65 -3.58 -2.88
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.
17.54 15.17 12.30
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.
0.18 0.17 0.46
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.
69.75 61.82 55.10
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.
94.14 94.08 97.18
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.
0.86 0.84 0.85
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.
84.31 85.73 85.89
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.
7.46 6.29 5.04
View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 09/30/2022

Berkshire Hathaway A 6.56%
Autozone, Inc. 3.56%
Nestlé ADR 3.44%
Alphabet Inc - A 3.17%
Totalenergies SE 2.98%
Johnson & Johnson 2.93%
Safran SA 2.91%
Diageo PLC ADR 2.87%
Wells Fargo & Co 2.85%
Roche Holding 2.71%
% in Top 10 Holdings 33.98%
View Holding Details Read Important Investment Disclosures

Regional Allocation

As of: 09/30/2022

View Allocation Details

Investment Approach

Investment Approach

Tweedy, Browne Value Fund

The Fund’s investment process is driven by fundamental, bottom-up research on individual companies. The investment team seeks to appraise the worth of a company, its “intrinsic value” (aka “private market value”, “breakup value” or “liquidation value”), by determining its acquisition value or estimating the collateral value of its assets and/or cash flow.


Barron’s Reprint: Why Value Investing is Facing a ‘Tectonic Shift’

The father of value investing, Benjamin Graham, still looms large over Tweedy, Browne, the firm that served as his broker back in the early 20th century. The $5.9 billion Tweedy, Browne International Value fund (ticker: TBGVX) hews to one of the famed investor’s key investing tenets: Buying stocks that trade at discounts to their intrinsic values will build wealth over time.


Value Investor Insight Interview: Tweedy, Browne Collective Experience

Tweedy, Browne Co.’s investment team describe what’s reminiscent about today’s investing environment and unsettling times in the past.

About

Background

Tweedy, Browne Company LLC, is a leading practitioner of the value-oriented investment approach of legendary investor, author (The Intelligent Investor, Security Analysis), and Columbia Business School professor Benjamin Graham. Serving originally as a broker to Graham and other respected value investors, the firm’s 100-year history is grounded in undervalued securities, first as a market maker, then as an investor and investment adviser.

Learn More

More Funds From Tweedy, Browne Company

TBGVX

Tweedy, Browne International Value Fund

The Fund seeks long-term capital growth.

View Fund Details

TBCUX

Tweedy, Browne International Value Fund II - Currency Unhedged

The Fund seeks long-term capital growth.

View Fund Details

TBHDX

Tweedy, Browne Worldwide High Dividend Yield Value Fund

The Fund seeks long-term capital growth.

View Fund Details

Founded

1920


Headquarters

Stamford, CT


Affiliate Since

1997

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