Effective March 19, 2021, the subadvisers of AMG Managers Special Equity Fund (the "Fund") changed from Federated MDTA LLC, Lord, Abbett & Co. LLC, Ranger Investment Management L.P. and Smith Asset Management Group, L.P. to Veritas Asset Management LLP ("Veritas"). The appointment of Veritas is pursuant to an interim subadvisory agreement in anticipation of shareholder approval of a definitive subadvisory agreement. Also effective March 19, 2021, the Fund changed its name to AMG Veritas Asia Pacific Fund and changed its investment objective, principal investment strategies and principal risks. For more information regarding these and other changes to the Fund, please see the Fund's prospectus.
This is part of a larger strategic business initiative to transition to a fund lineup entirely sub-advised by AMG Affiliates. We believe clients will benefit from a streamlined platform wholly focused on AMG Affiliates’ high-conviction investment offerings, including fee reductions, subject to shareholder approval, across all the strategies involved in the transition. Please see this Fund’s prospectus for further details on the fee reduction.
By focusing on long term real returns, the fund aims to deliver capital appreciation and to outperform the MSCI Asia ex Japan index.
Calendar Year Distributions
|Ex-Date||Total Distribution||Income||Short-term Cap Gains||Long-term Cap Gains|
|Mar 24, 2021||$69.043600||—||$33.229400||$35.814200|
|Dec 16, 2020||$6.420900||—||—||$6.420900|
|Dec 16, 2019||$32.956200||—||$5.012700||$27.943500|
|Dec 26, 2008||$5.838900||—||$0.039900||$5.799000|
|Dec 26, 2007||$19.054500||—||$1.230100||$17.824400|
|Dec 26, 2006||$13.560000||—||—||$13.560000|
|Dec 27, 2005||$7.280000||—||—||$7.280000|
|Samsung Electronics Co Ltd GDR||7.75%|
|Taiwan Semiconductor Manufacturing Co Ltd ADR||6.41%|
|Alibaba Group Holding Ltd||5.99%|
|Tencent Holdings Ltd||4.92%|
|Sea Ltd ADR||4.07%|
|HDFC Bank Ltd ADR||3.82%|
|Meituan, Class B 144A||3.47%|
|% in Top 10 Holdings||45.42%|
Veritas combines top-down analysis, focused on identifying long-term themes and trends, with bottom-up fundamental company research that seeks to identify companies within those identified themes and trends that it believes have sound business models, strong management and disciplined financial controls. Veritas seeks to focus on quality companies in sectors that they believe show long term structural growth potential with emphasis on industry leaders or emerging leaders with durable competitiveness.
Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. The firm manages both funds and segregated portfolios for institutional and retail investors globally. The focus is on identifying good quality, sustainable businesses and remaining patient to buy into these companies at the right entry point in order to achieve long term real returns.Learn More
Seeks to provide high current income and, secondarily, long-term capital appreciation by investing primarily in a diversified, all cap portfolio of income producing equity securities.
Overall Morningstar Rating
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.
Overall Morningstar Rating
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