Fund Overview

Fund Overview

Share Class

N

NAV | as of 06/28/2022

$15.30
-$0.24 (-1.54%)

Morningstar | Style Box

V B G L M S

Growth of $10,000 (Hypothetical)

Since Inception 03/01/2006 to 05/31/2022 = $33,204.72

  • 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

FUND MANAGER AND HEAD OF GLOBAL

Mike Moore

FUND MANAGER AND ANALYST

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: 1.27%
  • Net Expense Ratio: 1.13%
  • 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
Dec 15, 2021 $1.332100 $0.218100 $1.114000
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: 05/31/2022

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.
-2.84 -1.07 0.42
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.
19.15 17.34 14.16
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.
- - -
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.
102.24 109.36 106.38
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.
110.64 107.29 100.91
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.
1.06 1.06 1.00
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.
95.37 93.29 87.73
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.
4.25 4.59 4.96
View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 03/31/2022

Alphabet Inc, Class A 7.52%
Charter Communications Inc, Class A 6.09%
CVS Health Corp 6.06%
Canadian Pacific Railway Ltd 5.99%
BAE Systems PLC 5.55%
Vinci SA 4.49%
Amazon.com Inc 4.40%
Meta Platforms Inc, Class A 4.31%
Safran SA 4.19%
Fiserv Inc 4.18%
% in Top 10 Holdings 52.78%
View Holding Details Read Important Investment Disclosures

Regional Allocation

As of: 03/31/2022

View Allocation Details

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

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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MMCFX

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BLUEX

Veritas Global Real Return Fund

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

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Founded

2003


Headquarters

London, England


Affiliate Since

2014

Discover how the boutique advantage helps generate alpha.

Learn More About AMG