Veritas Global Focus Fund  (MFQAX)

Fund Notice:

Effective May 21, 2021, the subadviser of AMG FQ Tax-Managed U.S. Equity Fund (the "Fund") will change from First Quadrant, L.P. to Veritas Asset Management LLP ("Veritas"). The appointment of Veritas is pursuant to an interim subadvisory agreement in anticipation of shareholder approval of a definitive subadvisory agreement. Also effective May 21, 2021, the Fund will change its name to AMG Veritas Global Focus Fund and make changes to its investment objective, principal investment strategies and principal risks. For more information regarding these and other changes to the Fund, please see the Fund's prospectus.

This is part of a larger strategic business initiative to move to transition to a fund lineup entirely sub-advised by AMG Affiliates, we believe clients will benefit from a streamlined platform wholly focused on AMG Affiliates’ high-conviction investment offerings, including fee reductions, subject to shareholder approval,  across all the strategies involved in the transition. Please see this Fund’s prospectus for further details on the fee reduction.

Fund Overview

Fund Overview

Share Class

N

  • N

NAV | as of 06/23/2021

$19.13
-$0.10 (-0.52%)

Morningstar | Style Box

V B G L M S

Growth of $10,000 (Hypothetical)

Since Inception 03/01/2006 to 05/31/2021 = $36,082.04

  • 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 global equity investments
  • Focused portfolio of 25 to 40 companies with enduring competitive advantages
  • Real return approach focused on protecting and growing the real value of capital
Andrew Headley

Andrew Headley

Fund Manager and Head of Global

See Our Approach Read Bio
Mike Moore

Mike Moore

Fund Manager and Analyst

See Our Approach Read Bio

Performance

Performance

Read Important Investment Disclosures

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: 1.29%
  • Net Expense Ratio: 1.14%
  • Expense Cap Expiration Date: 03/01/2023

Distributions & Pricing


    • Calendar Year Distributions

    • Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
      May 27, 2021 $24.477200 $1.197200 $23.280000
      Dec 16, 2020 $0.554800 $0.057700 $0.497100
      Dec 16, 2019 $0.131400 $0.087000 $0.044400
      Dec 27, 2018 $0.467000 $0.052600 $0.414400
      Dec 27, 2017 $0.039700 $0.039700
      Dec 27, 2016 $0.236900 $0.236900
      Dec 28, 2015 $0.098300 $0.098300
      Dec 26, 2014 $0.054000 $0.054000
      Dec 26, 2013 $0.023800 $0.023800
      Dec 26, 2012 $0.123900 $0.123900
      Dec 28, 2010 $0.012100 $0.012100
      Dec 26, 2008 $0.106900 $0.106900
      Dec 26, 2007 $0.054000 $0.054000

Risk & Return Stats

As of: 05/31/2021

View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 03/31/2021

Apple Inc 4.96%
Microsoft Corp 4.55%
UnitedHealth Group Inc 3.95%
Visa Inc, Class A 3.75%
MasterCard Inc, Class A 3.62%
Amazon.com Inc 3.36%
Berkshire Hathaway Inc, Class B 3.25%
Facebook Inc, Class A 2.29%
Brown & Brown Inc 2.24%
Alphabet Inc, Class C 2.01%
% in Top 10 Holdings 33.98%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Equity)

As of: 03/31/2021

Investment Approach

Investment Approach

Veritas Global Focus 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 will construct a high conviction portfolio of 25 to 40 stocks, primarily from developed markets. The Fund can invest up to 25% in companies from emerging markets. 

  • 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

Veritas Global Focus Fund and Global Real Return Fund Introduction

 
An introduction to Veritas Asset Management, the AMG Veritas Global Focus Fund, and the AMG Veritas Global Real Return Fund
Read More

About

About Veritas Asset Management

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

More Funds From Veritas Asset Management

MSEIX

Veritas Asia Pacific Fund

By focusing on long term real returns, the fund aims to deliver capital appreciation and to outperform the MSCI Asia ex Japan index.

View Fund Details

MIMFX

Veritas China Fund

The Fund seeks to provide long-term capital appreciation

View Fund Details

BLUEX

Veritas Global Real Return Fund

The Fund seeks to provide real returns over the medium and longer term.

View Fund Details

Founded

2003


Headquarters

London, England


Affiliate Since

2014

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