Fund Overview
Share Class
I
NAV | as of 10/27/2021
$25.00-$0.18 (-0.71%)
Morningstar | Style Box
Overall Morningstar Rating
Rated against 1144 Large Value funds as of 09/30/2021
View Morningstar Details
Growth of $10,000 (Hypothetical)
Since Inception 07/06/1992 to 09/30/2021 = $200,306.89
Effective June 30, 2020, the Yacktman Fund's primary and secondary benchmarks were changed to the Russell 1000 Value Index becoming the primary benchmark and S&P 500 Index the secondary benchmark from the S&P 500 Index as the primary benchmark and the Russell 1000 Value Index as the secondary benchmark previously. The Russell 1000 Value and the S&P 500 Index are provided for illustrative purposes only, are unmanaged, reflect reinvestment of income and dividends and do not reflect the impact of advisory fees. The S&P 500 is a widely unmanaged index of market activity based on the aggregate performance of a selected portfolio of publicly trade common stocks and we have included the results of such index to give you a perspective of the historical performance of the U.S. equity market.
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.
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 diversified fund seeking to achieve strong risk-adjusted results over a full market cycle
- Subadvised by a seasoned investment team with a long track record and reputation for a disciplined investment approach
- Investors who seek a manager who focuses on risk and returns will appreciate this active and thoughtful value-oriented approach
Performance
Performance
Read Important Investment DisclosuresReturns
Effective June 30, 2020, the Yacktman Fund's primary and secondary benchmarks were changed to the Russell 1000 Value Index becoming the primary benchmark and S&P 500 Index the secondary benchmark from the S&P 500 Index as the primary benchmark and the Russell 1000 Value Index as the secondary benchmark previously. The Russell 1000 Value and the S&P 500 Index are provided for illustrative purposes only, are unmanaged, reflect reinvestment of income and dividends and do not reflect the impact of advisory fees. The S&P 500 is a widely unmanaged index of market activity based on the aggregate performance of a selected portfolio of publicly trade common stocks and we have included the results of such index to give you a perspective of the historical performance of the U.S. equity market.
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: 0.74%
- Net Expense Ratio: 0.74%
- Expense Cap Expiration Date: N/A
Distributions & Pricing
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Calendar Year Distributions
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Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 16, 2020 $2.299800 $0.282400 — $2.017400 Dec 16, 2019 $1.907600 $0.365700 — $1.541900 Dec 27, 2018 $4.393500 $0.435100 — $3.958400 Dec 27, 2017 $2.438400 $0.339300 $0.123300 $1.975800 Dec 27, 2016 $1.832100 $0.405900 $0.011100 $1.415100 Dec 28, 2015 $2.850900 $0.340500 $0.033300 $2.477100 Dec 26, 2014 $1.103100 $0.266600 $0.013500 $0.823000 Dec 26, 2013 $0.879600 $0.210900 $0.124300 $0.544400 Dec 26, 2012 $0.152500 $0.141400 — $0.011100 Jun 27, 2012 $0.233031 $0.110221 $0.000010 $0.122800 Dec 29, 2011 $0.238422 $0.183662 $0.007310 $0.047450 Dec 30, 2010 $0.603623 $0.152483 $0.016670 $0.434470 Dec 30, 2009 $0.203323 $0.104753 $0.098570 — Dec 30, 2008 $0.216515 $0.177275 $0.039240 — Dec 27, 2007 $2.958892 $0.343432 $0.045260 $2.570200 Dec 28, 2006 $1.224320 $0.297360 $0.017900 $0.909060 Dec 29, 2005 $0.471990 $0.281340 $0.035200 $0.155450 Dec 30, 2004 $1.415770 $0.115130 $0.226660 $1.073980 Dec 30, 2003 $1.161120 $0.175130 $0.216810 $0.769180 Dec 30, 2002 $0.102400 $0.102400 — — Dec 28, 2001 $0.548320 $0.052810 $0.050360 $0.445150 Dec 29, 2000 $0.850850 $0.850850 — — Mar 31, 2000 $0.020000 $0.020000 — — Dec 31, 1999 $0.185750 $0.185750 — — Sep 30, 1999 $0.020000 $0.020000 — — Jun 30, 1999 $0.030000 $0.030000 — — Mar 31, 1999 $0.020000 $0.020000 — — Dec 31, 1998 $2.379880 $2.379880 — — Sep 30, 1998 $0.020000 $0.020000 — — Jun 30, 1998 $0.030000 $0.030000 — — Mar 31, 1998 $0.080000 $0.080000 — — Dec 31, 1997 $1.544040 $1.544040 — — Sep 30, 1997 $0.060000 $0.060000 — — Jun 30, 1997 $0.070000 $0.070000 — — Mar 31, 1997 $0.050000 $0.050000 — — Dec 31, 1996 $1.718540 $1.718540 — — Sep 30, 1996 $0.070000 $0.070000 — — Jun 28, 1996 $0.050000 $0.050000 — — Mar 29, 1996 $0.050000 $0.050000 — — Dec 29, 1995 $0.825960 $0.825960 — — Sep 29, 1995 $0.060000 $0.060000 — — Jun 30, 1995 $0.050000 $0.050000 — — Mar 31, 1995 $0.060000 $0.060000 — — Dec 30, 1994 $0.186040 $0.186040 — — Sep 30, 1994 $0.045000 $0.045000 — — Jun 30, 1994 $0.052000 $0.052000 — — Mar 31, 1994 $0.056000 $0.056000 — — Dec 31, 1993 $0.039000 $0.039000 — — Sep 30, 1993 $0.037000 $0.037000 — — Jun 30, 1993 $0.024000 $0.024000 — — Mar 31, 1993 $0.044000 $0.044000 — — Dec 31, 1992 $0.056500 $0.056500 — — Sep 30, 1992 $0.024300 $0.024300 — —
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Portfolio & Holdings
Portfolio & Holdings
Top Holdings (Equity)
As of: 09/30/2021
| Samsung Electronics Co Ltd Preferred | 6.93% |
| Bollore SA | 6.17% |
| Alphabet Inc, Class C | 3.67% |
| Canadian Natural Resources Ltd | 3.66% |
| Brenntag SE | 3.58% |
| PepsiCo Inc | 3.14% |
| Microsoft Corp | 2.79% |
| Sysco Corp | 2.59% |
| Cognizant Technology Solutions Corp, Class A | 2.52% |
| News Corp, Class A | 2.30% |
| % in Top 10 Holdings | 37.35% |
Investment Approach
Investment Approach
AMG Yacktman 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.
About
About Yacktman Asset Management
Background
Yacktman Asset Management is a boutique investment 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 MoreMore Funds From Yacktman Asset Management
YAFFX
Yacktman Focused Fund
The Fund seeks long-term capital appreciation and, to a lesser extent, current income by primarily investing in common stocks of U.S. companies.
View Fund DetailsYFSIX
Yacktman Global Fund
The Fund seeks to generate equity-like rates of return over a full market cycle while managing the level of risk.
View Fund DetailsYASSX
Yacktman Special Opportunities Fund
The Fund seeks long-term capital appreciation through an intrinsic value-oriented investment approach.
View Fund DetailsFounded
1992
Headquarters
Austin, TX
Affiliate Since
2012
Funds to Consider
Discover how the boutique advantage helps generate alpha.
Learn More About AMGPerformance Details
Yacktman Fund (YACKX)
Fund Inception
Fund Inception
The performance shown represents past performance and 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. 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 indicies exclude expenses. Unlike the Fund, the Index listed is unmanaged, is not available for investment and does not incur expenses.
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