Performance Through Full Market Cycles

Yacktman Asset Management has a proven long-term track record, experience investing through multiple market cycles, and a reputation for sticking with their discipline—even when it may be less popular. This stability and consistency remains a hallmark of the investment strategy used in the AMG Yacktman Fund and AMG Yacktman Focused Fund that they subadvise and is key to the well-earned reputation they have today.

  • November 2018

1 Average cash position actual dates for Tech Bubble 03/31/00-09/30/02; Market Recovery 12/31/02-09/30/07; actual dates for Credit Crisis 12/31/07-12/31/08; actual dates for 2009 Market Recovery 03/31/09-09/30/18; actual dates for Combined Period 03/10/2000-09/30/18.

2 Morningstar is the data source for Tech Bubble Pops cash position. AMG Funds is the source for all other time periods.

Average Annual Returns (%)2,3 (as of September 30, 2018)

 

 Inception

QTD

YTD

1 Yr

3 Yr

5 Yr

10 Yr

Since Incpt.4

 YACKX (Class I)

07/06/92

3.74

6.74

14.72

13.72

9.54

12.67

10.44

YAFFX (Class N)

05/01/97

3.29

6.96

15.64

14.93

9.92

12.83

9.72

S&P 500® Index

7.71

10.56

17.91

17.31

13.95

11.97

9.90

The expense ratio is 0.76%/0.76% (gross/net) for YACKX and 1.27%/1.27% (gross/net) for YAFFX.

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.

2 Returns less than one year are not annualized.

3 The performance information shown for periods prior to June 29, 2012, is that of the predecessors to the Funds, the Yacktman Fund and the Yacktman Focused Fund, which were reorganized into the Funds on June 29, 2012, and were managed by Yacktman Asset Management LP with the same investment objective and substantially similar investment policies as those of the Funds.

4 The S&P 500 Index since inception performance is as of 07/06/92, inception date for the AMG Yacktman Fund (YACKX).

AMG Yacktman Fund & AMG Yacktman Focused Fund

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 that possess one or more of the following three attributes:

There is no guarantee that these investment strategies will work under all market conditions, and each investor should evaluate his or her ability to invest for the long term, especially during periods of downturns in the market.


Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800.835.3879 or visit amgfunds.com for a free Prospectus. Read it carefully before investing or sending money.

A short-term redemption fee of 2% will be charged on redemptions of Funds shares within 60 days of purchase.

The AMG Yacktman Focused Fund may suffer significant losses on assets that it sells short. Unlike the possible loss on a security that is purchased, there is no limit on the amount of loss on an appreciating security that is sold short.

The Funds are subject to the risks associated with investments in debt securities, such as default risk and fluctuations in the perception of the debtor’s ability to pay its creditors. High-yield bonds (also known as “junk bonds”) are subject to additional risks such as the risk of default. Changing interest rates may adversely affect the value of an investment. An increase in interest rates typically causes the value of bonds and other fixed income securities to fall.

Investments in international securities are subject to certain risks of overseas investing including currency fluctuations and changes in political and economic conditions, which could result in significant market fluctuations. These risks are magnified in emerging markets.

The Funds can invest in securities of different market capitalizations (small-, mid- and large capitalizations) and styles (growth vs. value), each of which will react differently to various market movements.

Companies that are in similar businesses may be similarly affected by particular economic or market events; to the extent the Funds have substantial holdings within a particular sector, the risks associated with that sector increase.

The Funds invest in value stocks, which may perform differently from the market as a whole and may be undervalued by the market for a long period of time.

A greater percentage of the AMG Yacktman Focused Fund’s holdings may be focused in a smaller number of securities which may place the Fund at greater risk than a more diversified fund.

The AMG Yacktman Focused Fund may use derivatives, such as options and futures, which can be illiquid, may disproportionately increase losses, and have a potentially large impact on performance.

The S&P 500 Index is a capitalization-weighted index of 500 stocks. The S&P 500 Index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. Unlike the Funds, the S&P 500 Index is unmanaged, is not available for investment and does not incur expenses.

The S&P 500 Index is proprietary data of Standard & Poor’s, a division of McGraw-Hill Companies, Inc. All rights reserved.

AMG Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC.

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