Yacktman Focused Fund  (YAFFX)

Fund Overview

Fund Overview

Share Class

N

  • N

Morningstar | Style Box

V B G L M S

NAV | as of 09/21/2017

$22.02
-$0.10 (-0.45%)

Overall Morningstar Rating



Rated against 1231 Large Blend funds as of 08/31/2017

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

Fund Inception 05/01/1997

YTD 1YR 3YR 5YR 10YR INCEP.
YAFFX 9.34 14.02 6.84 11.01 10.39 9.47
S&P 500 Index 9.34 17.90 9.61 14.63 7.18 7.66

Expense Ratios

  • Gross Expense Ratio: 1.27%
  • Net Expense Ratio: 1.27%
  • Expense Cap Expiration Date: N/A

Read Important Investment Disclosures

Objective

The Fund seeks long-term capital appreciation and, to a lesser extent, current income by primarily investing in common stocks of U.S. companies.

Why Consider

  • Provides investors exposure to a portfolio of U.S. stocks which the manager believes are undervalued based on three primary characteristics; good business, shareholder-oriented management and low purchase price
  • May establish a cash position if the subadvisor does not believe opportunities exist for purchasing securities of companies that meet its investment requirements
  • Subadvised by a seasoned investment team with a track record and reputation for a disciplined investment approach even when unpopular
Stephen A. Yacktman

Stephen A. Yacktman

Partner, Chief Investment Officer, Portfolio Manager

See Our Approach Read Bio
Jason S. Subotky

Jason S. Subotky

Partner, Portfolio Manager

See Our Approach Read Bio

Performance

Performance

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Returns & Distributions

as of 06/30/2017

    • Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
      Dec 27, 2016 $2.325100 $0.302900 $0.014600 $2.007600
      Dec 28, 2015 $4.815800 $0.236200 $0.221100 $4.358500
      Dec 26, 2014 $1.981500 $0.176600 $0.165300 $1.639600
      Dec 26, 2013 $0.907900 $0.138700 $0.171100 $0.598100
      Dec 26, 2012 $0.134900 $0.091700 $0.043200
      Jun 27, 2012 $0.104371 $0.071331 $0.033040
      Dec 29, 2011 $0.210692 $0.118482 $0.038120 $0.054090
      Dec 30, 2010 $0.360131 $0.104101 $0.022920 $0.233110
      Dec 30, 2009 $0.097679 $0.050719 $0.046960
      Dec 30, 2008 $0.725215 $0.155335 $0.195770 $0.374110
      Dec 27, 2007 $2.575404 $0.231444 $0.268530 $2.075430
      Dec 28, 2006 $1.377640 $0.214070 $1.163570
      Dec 29, 2005 $0.581860 $0.220570 $0.057870 $0.303420
      Dec 30, 2004 $2.073800 $0.030090 $0.287310 $1.756400
      Dec 30, 2003 $0.166650 $0.065650 $0.101000
      Dec 30, 2002 $0.075840 $0.075840
      Dec 28, 2001 $0.090960 $0.090960
      Dec 29, 2000 $0.116650 $0.116650
      Mar 31, 2000 $0.030000 $0.030000
      Dec 31, 1999 $0.037870 $0.037870
      Sep 30, 1999 $0.030000 $0.030000
      Jun 30, 1999 $0.010000 $0.010000
      Mar 31, 1999 $0.030000 $0.030000
      Dec 31, 1998 $0.062740 $0.062740
      Sep 30, 1998 $0.010000 $0.010000
      Jun 30, 1998 $0.020000 $0.020000
      Mar 31, 1998 $0.010000 $0.010000
      Dec 31, 1997 $0.280600 $0.280600
      Sep 30, 1997 $0.030000 $0.030000
      Jun 30, 1997 $0.020000 $0.020000

Growth of $10,000 (Hypothetical)

Since Inception 05/01/1997 to 08/31/2017 = $62,820.03

  • 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 (Equity)

Quarter Ending: 06/30/2017

Samsung Electronics Co Ltd Preferred 12.45%
Procter & Gamble Co 9.44%
Twenty-First Century Fox Inc, Class B 8.36%
PepsiCo Inc 7.03%
Twenty-First Century Fox Inc, Class A 5.24%
Oracle Corp 4.84%
Johnson & Johnson 4.78%
Coca-Cola Co 4.76%
Cisco Systems Inc 4.52%
Microsoft Corp 3.27%
% in Top 10 Holdings 64.69%
View Holding Details Read Important Investment Disclosures

MPT Stats

Month Ending: 08/31/2017

View All Characteristics & Stats

Sector Allocation (Equity)

Quarter Ending: 06/30/2017

Investment Approach

Investment Approach

AMG Yacktman Focused Fund

The Fund seeks long-term capital appreciation, and, to a lesser extent, current income. The Fund is non-diversified and mainly invests in common stocks of United States companies of any size, some, but not all of which, pay dividends. Yacktman employs a disciplined investment strategy, buying growth companies at what it believes to be low prices. Yacktman believes this approach combines the best features of "growth" and "value" investing. When they purchase stocks, they generally search for companies they believe to possess one or more of the following three attributes:

Good Business

  • High market share in principal product and/or service lines
  • A high cash return on tangible assets
  • Relatively low capital requirements allowing a business to generate cash while growing
  • Short customer repurchase cycles and long product cycles
  • Unique franchise characteristics


Shareholder-Oriented Management

Yacktman believes a shareholder-oriented management does not overcompensate itself and wisely allocates the cash the company generates. Yacktman looks for companies that:

  • Reinvest in the business and still have excess cash
  • Make synergistic acquisitions
  • Buy back stock

Low Purchase Price

  • Yacktman looks for a stock that sells for less than what an investor would pay to buy the whole company
  • The stock prices of individual companies can vary significantly over short periods of time, and such price movements are not always correlated with changes in company fundamental performance. Accordingly, Yacktman generally prefers to wait for buying opportunities. Such opportunities do not always occur in correlation with overall market performance trends

Additional Fund Highlight

May establish a cash position if the subadvisor does not believe opportunities exist for purchasing securities of companies that meet its investment requirements.  Additionally, for hedging purposes, the Fund may engage in short sales of securities, including short sales of securities the Fund does not own.

Keep Calm and Remain Diversified

A short- and long-term review of the power of diversification.
Read Full Perspective
Article | Jul 10, 2017

The Wall Street Journal: If the Market Declines, Two Funds to Consider

Read Full Article

About

About Yacktman Asset Management

Background

Yacktman Asset Management is a boutique investment advisory firm located in Austin, Texas. Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. The firm strives to achieve solid risk-adjusted returns over time.

Learn More

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YASSX

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YFSIX

Yacktman Focused Fund - Security Selection Only

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Founded

1992


Headquarters

Austin, TX


Affiliate Since

2012


AUM

$15.6B

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

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