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.
I
Since Inception 05/03/2004 to 03/31/2021 = $53,572.21
The MSCI AC Asia Pacific ex Japan Index replaced the Russell 2000® Growth Index as the Fund’s benchmark on March 19, 2021 because the Investment Manager and Subadviser believe the new benchmark is more representative of the Fund’s current investment strategies. The benchmarks are provided for illustrative purposes only, are unmanaged, reflect reinvestment of income and dividends and do not reflect the impact of advisory fees. The Russell 2000 Growth Index 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.
By focusing on long term real returns, the fund aims to deliver capital appreciation and to outperform the MSCI Asia ex Japan index.
The MSCI AC Asia Pacific ex Japan Index replaced the Russell 2000® Growth Index as the Fund’s benchmark on March 19, 2021 because the Investment Manager and Subadviser believe the new benchmark is more representative of the Fund’s current investment strategies. The benchmarks are provided for illustrative purposes only, are unmanaged, reflect reinvestment of income and dividends and do not reflect the impact of advisory fees. The Russell 2000 Growth Index 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.
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 |
As of: 03/31/2021
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% |
CSL Ltd | 3.36% |
Goodman Group | 3.04% |
Afterpay Ltd | 2.59% |
% 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 MoreThe Fund seeks to provide real returns over the medium and longer term.
View Fund DetailsDiscover how the boutique advantage helps generate alpha.
Learn More About AMGVeritas Asia Pacific Fund (MSEIX)
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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