Fund Overview

Fund Overview

Share Class

N

NAV | as of 06/28/2022

$20.16
+$0.09 (+0.45%)

Morningstar | Style Box

V B G L M S

Morningstar Analyst Rating

as of 4/15/2021 Download Analyst Rating Report

Growth of $10,000 (Hypothetical)

Since Inception 06/30/1994 to 05/31/2022 = $199,912.10

  • 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. 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 to provide long-term capital appreciation.

Why Consider

  • The Fund may be appropriate for investors looking to gain exposure to companies in Greater China
  • Invests in a focused portfolio of Chinese companies identified through a combination of top-down thematic drivers and bottom-up fundamental research
  • Real return approach focused on protecting and growing capital

Ezra Sun

FUND MANAGER AND HEAD OF ASIA

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. 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. Returns for periods less than one year are not annualized.

Expense Ratios

  • Gross Expense Ratio: 1.21%
  • Net Expense Ratio: 1.16%
  • Expense Cap Expiration Date: 03/01/2023

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
May 27, 2021 $26.454300 $8.934100 $17.520200
Dec 16, 2020 $2.115100 $0.014000 $2.101100
Dec 16, 2019 $3.685500 $3.685500
Dec 27, 2018 $8.653300 $1.436100 $7.217200
Dec 27, 2017 $5.711400 $1.231000 $4.480400
Dec 27, 2016 $0.144700 $0.144700
Dec 28, 2015 $4.518200 $0.775000 $3.743200
Dec 26, 2014 $5.315200 $0.800900 $4.514300
Dec 26, 2013 $6.797900 $3.226300 $3.571600
Dec 26, 2012 $2.915900 $0.067800 $2.848100
Dec 27, 2011 $2.660400 $2.660400
Dec 26, 2008 $1.564500 $1.564500
Dec 15, 2000 $2.950260 $2.950260
Oct 25, 2000 $6.304400 $0.024400 $6.280000
Dec 15, 1999 $0.118500 $0.118500
Oct 26, 1999 $5.740000 $5.740000
Dec 15, 1997 $1.243900 $0.035990 $1.207910
Oct 31, 1997 $1.520000 $1.520000
Dec 13, 1996 $0.917858 $0.850626 $0.067232
Dec 29, 1995 $0.504478 $0.504478
Oct 31, 1994 $0.020350 $0.020350

Risk & Return Stats

As of: 05/31/2022

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.
3.37 6.28 8.27
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.
26.29 23.70 19.82
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.
- - -
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.
94.24 75.78 33.58
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.
93.64 81.34 67.87
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.
0.92 0.73 0.49
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.
41.35 36.10 22.47
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.
20.19 19.70 19.94
View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 03/31/2022

Shenzhen Inovance Technology Co Ltd 9.38%
Zhejiang Shuanghuan Driveline Co Ltd 7.94%
Estun Automation Co Ltd, Class A 6.31%
Hangzhou First Applied Material Co Ltd, Class A 5.66%
Yunnan Energy New Material Co Ltd 5.42%
Wuxi Lead Intelligent Equipment Co Ltd, Class A 5.32%
ENN Energy Holdings Ltd 5.22%
Kweichow Moutai Co Ltd, Class A 4.39%
Guangzhou GRG Metrology & Test Co Ltd, Class A 4.26%
NetEase Inc 4.24%
% in Top 10 Holdings 58.14%
View Holding Details Read Important Investment Disclosures

Regional Allocation

As of: 03/31/2022

View Allocation Details

Investment Approach

Investment Approach

Veritas China Fund

Veritas combines top-down analysis, focused on identifying long term themes and trends, with bottom-up fundamental company research that seeks to identify companies within those identified themes and trends that it believes have sound business models, strong management and disciplined financial controls. Veritas seeks to focus on quality companies in sectors that the Subadviser believes show long term structural growth potential with emphasis on industry leaders or emerging leaders with durable competitiveness.

Veritas Asia Pacific Fund and China Fund Introduction

An introduction to Veritas Asset Management, the AMG Veritas Asia Pacific Fund, and the AMG Veritas China Fund

View Webcast

About

Background

Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. The firm manages both funds and segregated portfolios for institutional and retail investors globally. The focus is on identifying good quality, sustainable businesses and remaining patient to buy into these companies at the right entry point in order to achieve long term real returns.

Learn More

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Founded

2003


Headquarters

London, England


Affiliate Since

2014

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