Fund Overview
Share Class
N
NAV | as of 07/22/2021
$12.51-$0.01 (-0.08%)
Morningstar | Style Box
Growth of $10,000 (Hypothetical)
Since Inception 06/30/2009 to 06/30/2021 = $16,228.30
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 current income, exempt from federal income tax, and capital preservation by primarily investing in a portfolio of high-quality municipal bonds.
Why Consider
- Provides investors with exposure to an actively managed portfolio of primarily intermediate-term municipal bonds
- Investment approach combines top-down analysis to respond to interest rate changes with bottom-up research focusing on security structure and credit ratings
- The Fund focuses on the intermediate area of the yield curve to maintain flexibility and actively adjusts duration based on interest rate moves
Performance
Performance
Read Important Investment DisclosuresReturns
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: 0.77%
- Net Expense Ratio: 0.71%
- Expense Cap Expiration Date: 05/01/2022
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 Jun 28, 2021 $0.010500 $0.010500 — — May 26, 2021 $0.010900 $0.010900 — — Apr 28, 2021 $0.010200 $0.010200 — — Mar 29, 2021 $0.011000 $0.011000 — — Feb 24, 2021 $0.010200 $0.010200 — — Jan 27, 2021 $0.011600 $0.011600 — — Dec 16, 2020 $0.046200 $0.011500 $0.000900 $0.033800 Nov 25, 2020 $0.011000 $0.011000 — — Oct 28, 2020 $0.012200 $0.012200 — — Sep 28, 2020 $0.011500 $0.011500 — — Aug 27, 2020 $0.012300 $0.012300 — — Jul 29, 2020 $0.012300 $0.012300 — — Jun 26, 2020 $0.012400 $0.012400 — — May 27, 2020 $0.013000 $0.013000 — — Apr 28, 2020 $0.013700 $0.013700 — — Mar 27, 2020 $0.015300 $0.015300 — — Feb 26, 2020 $0.013800 $0.013800 — — Jan 29, 2020 $0.015200 $0.015200 — — Dec 16, 2019 $0.015200 $0.015200 — — Nov 26, 2019 $0.014900 $0.014900 — — Oct 29, 2019 $0.015800 $0.015800 — — Sep 26, 2019 $0.015600 $0.015600 — — Aug 28, 2019 $0.016000 $0.016000 — — Jul 29, 2019 $0.016300 $0.016300 — — Jun 26, 2019 $0.016600 $0.016600 — — May 29, 2019 $0.016500 $0.016500 — — Apr 26, 2019 $0.016300 $0.016300 — — Mar 27, 2019 $0.017400 $0.017400 — — Feb 26, 2019 $0.015000 $0.015000 — — Jan 29, 2019 $0.016600 $0.016600 — — Dec 27, 2018 $0.021600 $0.017900 — $0.003700 Nov 28, 2018 $0.015800 $0.015800 — — Oct 29, 2018 $0.015600 $0.015600 — — Sep 26, 2018 $0.014600 $0.014600 — — Aug 29, 2018 $0.014800 $0.014800 — — Jul 27, 2018 $0.014700 $0.014700 — — Jun 27, 2018 $0.013500 $0.013500 — — May 29, 2018 $0.014500 $0.014500 — — Apr 26, 2018 $0.014600 $0.014600 — — Mar 27, 2018 $0.014200 $0.014200 — — Feb 26, 2018 $0.012600 $0.012600 — — Jan 29, 2018 $0.012700 $0.012700 — — Dec 27, 2017 $0.025400 $0.013900 — $0.011500 Nov 27, 2017 $0.012700 $0.012700 — — Oct 26, 2017 $0.012900 $0.012900 — — Sep 26, 2017 $0.012500 $0.012500 — — Aug 28, 2017 $0.013000 $0.013000 — — Jul 26, 2017 $0.013200 $0.013200 — — Jun 27, 2017 $0.012400 $0.012400 — — May 25, 2017 $0.012600 $0.012600 — — Apr 25, 2017 $0.012500 $0.012500 — — Mar 28, 2017 $0.013000 $0.013000 — — Feb 23, 2017 $0.011300 $0.011300 — — Jan 26, 2017 $0.012200 $0.012200 — — Dec 27, 2016 $0.219200 $0.012100 $0.132300 $0.074800 Nov 25, 2016 $0.011600 $0.011600 — — Oct 26, 2016 $0.013100 $0.013100 — — Sep 27, 2016 $0.009000 $0.009000 — — Aug 26, 2016 $0.008400 $0.008400 — — Jul 26, 2016 $0.012500 $0.012500 — — Jun 27, 2016 $0.009500 $0.009500 — — May 25, 2016 $0.009800 $0.009800 — — Apr 26, 2016 $0.008500 $0.008500 — — Mar 28, 2016 $0.009200 $0.009200 — — Feb 24, 2016 $0.008100 $0.008100 — — Jan 26, 2016 $0.010800 $0.010800 — — Dec 28, 2015 $0.161900 $0.012300 $0.039800 $0.109800 Nov 24, 2015 $0.012900 $0.012900 — — Oct 27, 2015 $0.012600 $0.012600 — — Sep 25, 2015 $0.011900 $0.011900 — — Aug 26, 2015 $0.013100 $0.013100 — — Jul 28, 2015 $0.012800 $0.012800 — — Jun 25, 2015 $0.012500 $0.012500 — — May 26, 2015 $0.012900 $0.012900 — — Apr 27, 2015 $0.011800 $0.011800 — — Mar 26, 2015 $0.010500 $0.010500 — — Feb 24, 2015 $0.011000 $0.011000 — — Jan 27, 2015 $0.013300 $0.013300 — — Dec 26, 2014 $0.055000 $0.015300 $0.015200 $0.024500 Nov 24, 2014 $0.013800 $0.013800 — — Oct 28, 2014 $0.015500 $0.015500 — — Sep 25, 2014 $0.015500 $0.015500 — — Aug 26, 2014 $0.015700 $0.015700 — — Jul 28, 2014 $0.014700 $0.014700 — — Jun 25, 2014 $0.015200 $0.015200 — — May 27, 2014 $0.015100 $0.015100 — — Apr 25, 2014 $0.014800 $0.014800 — — Mar 26, 2014 $0.014700 $0.014700 — — Feb 25, 2014 $0.014000 $0.014000 — — Jan 28, 2014 $0.016200 $0.016200 — — Dec 26, 2013 $0.059200 $0.016300 $0.023100 $0.019800 Nov 25, 2013 $0.013400 $0.013400 — — Oct 28, 2013 $0.013700 $0.013700 — — Sep 25, 2013 $0.012000 $0.012000 — — Aug 27, 2013 $0.016300 $0.016300 — — Jul 26, 2013 $0.015900 $0.015900 — — Jun 25, 2013 $0.013900 $0.013900 — — May 28, 2013 $0.015100 $0.015100 — — Apr 25, 2013 $0.014800 $0.014800 — — Mar 25, 2013 $0.013600 $0.013600 — — Feb 26, 2013 $0.000000 $0.000000 — — Feb 25, 2013 $0.011600 $0.011600 — — Jan 28, 2013 $0.013300 $0.013300 — — Dec 26, 2012 $0.097600 $0.016300 $0.030600 $0.050700 Nov 27, 2012 $0.016700 $0.016700 — — Oct 26, 2012 $0.016600 $0.016600 — — Sep 25, 2012 $0.016800 $0.016800 — — Aug 28, 2012 $0.016800 $0.016800 — — Jul 26, 2012 $0.015300 $0.015300 — — Jun 26, 2012 $0.014000 $0.014000 — — May 25, 2012 $0.016200 $0.016200 — — Apr 25, 2012 $0.016400 $0.016400 — — Mar 27, 2012 $0.016800 $0.016800 — — Feb 24, 2012 $0.014300 $0.014300 — — Jan 26, 2012 $0.018600 $0.018600 — — Dec 27, 2011 $0.065900 $0.020200 $0.029900 $0.015800 Nov 25, 2011 $0.019100 $0.019100 — — Oct 26, 2011 $0.020900 $0.020900 — — Sep 27, 2011 $0.017800 $0.017800 — — Aug 26, 2011 $0.022200 $0.022200 — — Jul 26, 2011 $0.023200 $0.023200 — — Jun 27, 2011 $0.018900 $0.018900 — — May 25, 2011 $0.023900 $0.023900 — — Apr 26, 2011 $0.026000 $0.026000 — — Mar 28, 2011 $0.026200 $0.026200 — — Feb 23, 2011 $0.024000 $0.024000 — — Jan 26, 2011 $0.024100 $0.024100 — — Dec 28, 2010 $0.096900 $0.027100 $0.022000 $0.047800 Nov 24, 2010 $0.023800 $0.023800 — — Oct 26, 2010 $0.022900 $0.022900 — — Sep 27, 2010 $0.021700 $0.021700 — — Aug 26, 2010 $0.026400 $0.026400 — — Jul 27, 2010 $0.027400 $0.027400 — — Jun 25, 2010 $0.026600 $0.026600 — — May 25, 2010 $0.027500 $0.027500 — — Apr 27, 2010 $0.028900 $0.028900 — — Mar 26, 2010 $0.029300 $0.029300 — — Feb 23, 2010 $0.025500 $0.025500 — — Jan 26, 2010 $0.023000 $0.023000 — — Dec 28, 2009 $0.087000 $0.032100 $0.054900 — Nov 24, 2009 $0.038600 $0.038600 — — Oct 27, 2009 $0.027600 $0.027600 — — Sep 25, 2009 $0.023000 $0.023000 — — Aug 26, 2009 $0.018900 $0.018900 — — Jul 28, 2009 $0.012802 $0.012802 — —
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Portfolio & Holdings
Portfolio & Holdings
Top Holdings (Fixed)
As of: 06/30/2021
| State of Texas Fixed | 4.32% |
| City of Los Angeles CA Fixed | 2.34% |
| Wisconsin Department of Transportation Fixed | 1.92% |
| State of Maryland Fixed | 1.71% |
| State of North Carolina Fixed | 1.43% |
| Iowa Finance Authority Fixed | 1.41% |
| Metropolitan Transportation Authority Fixed | 1.34% |
| State Of California Fixed | 1.17% |
| State of Maryland Department of Transportation Fixed | 1.15% |
| State Of Maryland Department Of Transportation Fixed | 1.13% |
| % in Top 10 Holdings | 17.92% |
Investment Approach
Investment Approach
GW&K Municipal Bond Fund
The Fund's active investment approach combines top-down analysis to respond to interest rate changes with bottom-up research focusing on security structure and credit ratings. The Fund uses fundamental research to seek to uncover and exploit inefficiencies in the investment-grade municipal bond market, primarily selecting investment-grade securities with a rating of at least BBB/Baa by a nationally recognized statistical rating organization such as Moody's Investors Service, Inc. or Standard & Poor's.
Additional Fund Highlight
GW&K has invested in municipal bonds since the firm's founding in 1974.
About
About GW&K Investment Management
Background
GW&K Investment Management is a dynamic investment management firm that offers asset allocation, active equity and fixed income investment solutions to help meet the needs of a diverse client base. GW&K’s founding principles of applying rigorous fundamental research, focusing on quality and maintaining a long-term view still guide its investment process today.
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View Fund DetailsFounded
1974
Headquarters
Boston, MA
Affiliate Since
2008
Funds to Consider
Discover how the boutique advantage helps generate alpha.
Learn More About AMGPerformance Details
GW&K Municipal Bond Fund (GWMTX)
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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