Fund Overview

Share Class

Z

NAV | as of 03/28/2024

$8.79
+$0.00 (+0.00%)

Morningstar | Style Box

L M E H M L

Growth of $10,000 (Hypothetical)

Since Inception 09/29/2017 to 02/29/2024 = $10,242.11

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.
SEE ALL PERFORMANCE

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 800.548.4539. 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 income and capital growth by investing primarily in a diversified portfolio of fixed-income securities across investment-grade, high-yield and non-traditional fixed-income asset classes.

Why Consider

  • Provides investors with exposure to a diversified portfolio of fixed income securities
  • The Fund employs a disciplined, team-based approach, seeking to add consistent value through management of duration, yield curve and credit risk
  • The investment strategy utilizes a long-established process of macro driven duration management, yield-curve positioning and credit allocation with the ability to tactically allocate up to 30% of the portfolio in high yield bonds and other fixed income asset classes as opportunities arise

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 800.548.4539. 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 shorter than one year are not annualized.

Expense Ratios

  • Gross Expense Ratio: 0.52%
  • Net Expense Ratio: 0.43%
  • Expense Cap Expiration Date: 03/01/2025

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Mar 26, 2024 $0.033100 $0.033100
Feb 27, 2024 $0.031000 $0.031000
Jan 29, 2024 $0.033000 $0.033000
Dec 14, 2023 $0.037000 $0.037000
Nov 28, 2023 $0.033500 $0.033500
Oct 27, 2023 $0.029100 $0.029100
Sep 27, 2023 $0.029500 $0.029500
Aug 29, 2023 $0.030800 $0.030800
Jul 27, 2023 $0.028200 $0.028200
Jun 28, 2023 $0.029900 $0.029900
May 26, 2023 $0.030000 $0.030000
Apr 26, 2023 $0.030000 $0.030000
Mar 29, 2023 $0.031800 $0.031800
Feb 24, 2023 $0.028200 $0.028200
Jan 27, 2023 $0.026800 $0.026800
Dec 15, 2022 $0.047900 $0.047900
Nov 28, 2022 $0.037700 $0.037700
Oct 27, 2022 $0.035000 $0.035000
Sep 28, 2022 $0.028000 $0.028000
Aug 29, 2022 $0.025300 $0.025300
Jul 27, 2022 $0.029600 $0.029600
Jun 28, 2022 $0.026500 $0.026500
May 26, 2022 $0.026100 $0.026100
Apr 27, 2022 $0.025300 $0.025300
Mar 29, 2022 $0.024600 $0.024600
Feb 24, 2022 $0.023600 $0.023600
Jan 27, 2022 $0.023000 $0.023000
Dec 15, 2021 $0.024900 $0.024900
Nov 26, 2021 $0.028100 $0.028100
Oct 27, 2021 $0.025800 $0.025800
Sep 28, 2021 $0.023200 $0.023200
Aug 27, 2021 $0.021700 $0.021700
Jul 28, 2021 $0.021600 $0.021600
Jun 28, 2021 $0.021100 $0.021100
May 26, 2021 $0.020800 $0.020800
Apr 28, 2021 $0.024000 $0.024000
Mar 29, 2021 $0.023000 $0.023000
Feb 24, 2021 $0.021400 $0.021400
Jan 27, 2021 $0.022900 $0.022900
Dec 16, 2020 $0.051300 $0.051300
Nov 25, 2020 $0.032200 $0.032200
Oct 28, 2020 $0.025400 $0.025400
Sep 28, 2020 $0.024000 $0.024000
Aug 27, 2020 $0.022400 $0.022400
Jul 29, 2020 $0.022100 $0.022100
Jun 26, 2020 $0.025800 $0.025800
May 27, 2020 $0.019700 $0.019700
Apr 28, 2020 $0.034000 $0.034000
Mar 27, 2020 $0.036000 $0.036000
Feb 26, 2020 $0.026200 $0.026200
Jan 29, 2020 $0.027300 $0.027300
Dec 16, 2019 $0.031000 $0.031000
Nov 26, 2019 $0.036500 $0.036500
Oct 29, 2019 $0.035800 $0.035800
Sep 26, 2019 $0.030500 $0.030500
Aug 28, 2019 $0.030500 $0.030500
Jul 29, 2019 $0.033500 $0.033500
Jun 26, 2019 $0.032800 $0.032800
May 29, 2019 $0.031200 $0.031200
Apr 26, 2019 $0.032500 $0.032500
Mar 27, 2019 $0.034500 $0.034500
Feb 26, 2019 $0.027000 $0.027000
Jan 29, 2019 $0.029500 $0.029500
Dec 27, 2018 $0.043700 $0.043700
Nov 28, 2018 $0.035000 $0.035000
Oct 29, 2018 $0.028500 $0.028500
Sep 26, 2018 $0.035000 $0.035000
Aug 29, 2018 $0.035700 $0.035700
Jul 27, 2018 $0.035000 $0.035000
Jun 27, 2018 $0.027500 $0.027500
May 29, 2018 $0.027500 $0.027500
Apr 26, 2018 $0.026200 $0.026200
Mar 27, 2018 $0.027000 $0.027000
Feb 26, 2018 $0.025500 $0.025500
Jan 29, 2018 $0.025000 $0.025000
Dec 27, 2017 $0.024400 $0.024400
Nov 27, 2017 $0.027000 $0.027000
Oct 26, 2017 $0.027500 $0.027500

Risk & Return Statistics

As of: 02/29/2024

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.
-0.20 -0.38 -
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.
7.26 7.12 -
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.
-0.82 -0.27 -
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.
101.75 108.16 -
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.
102.63 110.26 -
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.
1.01 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.
98.06 73.96 -
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.
1.01 3.63 -
View All Characteristics & Statistics

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Fixed)

As of: 12/31/2023

United States Treasury Note/Bond Fixed 14.71%
United States Treasury Note/Bond Fixed 9.20%
United States Treasury Note/Bond Fixed 8.18%
United States Treasury Note/Bond Fixed 3.44%
Fannie Mae Pool BL4421 Fixed 3.25%
Bank of America Corp Floating 2.28%
United States Treasury Note/Bond Fixed 2.27%
Fannie Mae Pool BL5484 Fixed 2.20%
Toronto-Dominion Bank Floating 1.88%
Mileage Plus Holdings LLC Term Loan Floating 1.69%
% in Top 10 Holdings 49.08%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Fixed)

As of: 12/31/2023

View Allocation Details

About the Affiliate

About Beutel Goodman

Founded in 1967, Beutel, Goodman & Company Ltd. is an independent value-focused investment manager that serves institutional, private wealth, and retail clients. The firm’s equity strategies use bottom-up, fundamental research to invest in high-quality companies trading at discounts to their business value. Beutel Goodman takes a disciplined, team-based approach to fixed income, seeking to add value through management of duration, yield curve, and credit risk.

Learn More About Beutel Goodman's Approach

FOUNDED

1967

AMG AFFILIATE SINCE

2005

HEADQUARTERS

Toronto, Canada

Portfolio Managers

Derek Brown, MBA, CFA

SENIOR VICE PRESIDENT, CO-HEAD OF FIXED INCOME

Read full bio
Sue McNamara, CFA

SENIOR VICE PRESIDENT, FIXED INCOME

Read full bio
Neil McCabe, MBA, CFA

VICE PRESIDENT, FIXED INCOME

Read full bio

Investment Approach

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