Yacktman Fund  (YACKX)

Fund Overview

Fund Overview

Share Class

I

Morningstar | Style Box

V B G L M S

NAV | as of 10/19/2018

$23.99
+$0.23 (+0.97%)

Overall Morningstar Rating



Rated against 1109 Large Value funds as of 09/30/2018

View Morningstar Details

Quarterly Performance (%) |
vs. Benchmark as of 09/30/2018

Fund Inception 07/06/1992

YTD 1YR 3YR 5YR 10YR INCEP.
YACKX 6.74 14.72 13.72 9.54 12.67 10.44
S&P 500 Index 10.56 17.91 17.31 13.95 11.97 9.90
Russell 1000® Value Index 3.92 9.45 13.55 10.72 9.79 10.01
View Monthly & Quarterly Performance Details

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. 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. Performance Data shown does not reflect the 2.00% redemption fee imposed on the shares held 90 days or less; otherwise, total returns would be reduced.

Expense Ratios

  • Gross Expense Ratio: 0.76%
  • Net Expense Ratio: 0.76%
  • Expense Cap Expiration Date: N/A

Read Important Investment Disclosures

Objective

The Fund seeks long-term capital appreciation and, to a lesser extent, current income by primarily investing in common stocks of U.S. companies.

Why Consider

  • Provides investors exposure to a diversified fund seeking to achieve strong risk-adjusted results over a full market cycle
  • Subadvised by a seasoned investment team with a long track record and reputation for a disciplined investment approach
  • Investors who seek a manager who focuses on risk and returns will appreciate this active and thoughtful value-oriented approach
Stephen A. Yacktman

Stephen A. Yacktman

Partner, Chief Investment Officer, Portfolio Manager

See Our Approach Read Bio
Jason S. Subotky

Jason S. Subotky

Partner, Portfolio Manager

See Our Approach Read Bio

Performance

Performance

Read Important Investment Disclosures

Returns & Distributions

As of 09/30/2018

    • Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
      Dec 27, 2017 $2.438400 $0.339300 $0.123300 $1.975800
      Dec 27, 2016 $1.832100 $0.405900 $0.011100 $1.415100
      Dec 28, 2015 $2.850900 $0.340500 $0.033300 $2.477100
      Dec 26, 2014 $1.103100 $0.266600 $0.013500 $0.823000
      Dec 26, 2013 $0.879600 $0.210900 $0.124300 $0.544400
      Dec 26, 2012 $0.152500 $0.141400 $0.011100
      Jun 27, 2012 $0.233031 $0.110221 $0.000010 $0.122800
      Dec 29, 2011 $0.238422 $0.183662 $0.007310 $0.047450
      Dec 30, 2010 $0.603623 $0.152483 $0.016670 $0.434470
      Dec 30, 2009 $0.203323 $0.104753 $0.098570
      Dec 30, 2008 $0.216515 $0.177275 $0.039240
      Dec 27, 2007 $2.958892 $0.343432 $0.045260 $2.570200
      Dec 28, 2006 $1.224320 $0.297360 $0.017900 $0.909060
      Dec 29, 2005 $0.471990 $0.281340 $0.035200 $0.155450
      Dec 30, 2004 $1.415770 $0.115130 $0.226660 $1.073980
      Dec 30, 2003 $1.161120 $0.175130 $0.216810 $0.769180
      Dec 30, 2002 $0.102400 $0.102400
      Dec 28, 2001 $0.548320 $0.052810 $0.050360 $0.445150
      Dec 29, 2000 $0.850850 $0.850850
      Mar 31, 2000 $0.020000 $0.020000
      Dec 31, 1999 $0.185750 $0.185750
      Sep 30, 1999 $0.020000 $0.020000
      Jun 30, 1999 $0.030000 $0.030000
      Mar 31, 1999 $0.020000 $0.020000
      Dec 31, 1998 $2.379880 $2.379880
      Sep 30, 1998 $0.020000 $0.020000
      Jun 30, 1998 $0.030000 $0.030000
      Mar 31, 1998 $0.080000 $0.080000
      Dec 31, 1997 $1.544040 $1.544040
      Sep 30, 1997 $0.060000 $0.060000
      Jun 30, 1997 $0.070000 $0.070000
      Mar 31, 1997 $0.050000 $0.050000
      Dec 31, 1996 $1.718540 $1.718540
      Sep 30, 1996 $0.070000 $0.070000
      Jun 28, 1996 $0.050000 $0.050000
      Mar 29, 1996 $0.050000 $0.050000
      Dec 29, 1995 $0.825960 $0.825960
      Sep 29, 1995 $0.060000 $0.060000
      Jun 30, 1995 $0.050000 $0.050000
      Mar 31, 1995 $0.060000 $0.060000
      Dec 30, 1994 $0.186040 $0.186040
      Sep 30, 1994 $0.045000 $0.045000
      Jun 30, 1994 $0.052000 $0.052000
      Mar 31, 1994 $0.056000 $0.056000
      Dec 31, 1993 $0.039000 $0.039000
      Sep 30, 1993 $0.037000 $0.037000
      Jun 30, 1993 $0.024000 $0.024000
      Mar 31, 1993 $0.044000 $0.044000
      Dec 31, 1992 $0.056500 $0.056500
      Sep 30, 1992 $0.024300 $0.024300

Growth of $10,000 (Hypothetical)

Since Inception 07/06/1992 to 09/30/2018 = $127,741.55

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.

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. 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. Performance Data shown does not reflect the 2.00% redemption fee imposed on the shares held 90 days or less; otherwise, total returns would be reduced.

Top Holdings (Equity)

As of: 09/30/2018

Procter & Gamble Co 8.43%
Samsung Electronics Co Ltd Preferred 7.28%
Oracle Corp 4.89%
Johnson & Johnson 4.84%
Coca-Cola Co 4.80%
Twenty-First Century Fox Inc, Class B 4.79%
PepsiCo Inc 4.70%
Microsoft Corp 3.41%
Twenty-First Century Fox Inc 3.31%
Anthem Inc 2.49%
% in Top 10 Holdings 48.94%
View Holding Details Read Important Investment Disclosures

MPT Stats

As of: 09/30/2018

View All Characteristics & Stats

Sector Allocation (Equity)

As of: 09/30/2018

Investment Approach

Investment Approach

AMG Yacktman Fund

The Fund seeks long-term capital appreciation, and, to a lesser extent, current income. The Fund is non-diversified and mainly invests in common stocks of United States companies of any size, some, but not all of which, pay dividends. 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 they believe to possess one or more of the following three attributes:

Good Business

  • High market share in principal product and/or service lines
  • A high cash return on tangible assets
  • Relatively low capital requirements allowing a business to generate cash while growing
  • Short customer repurchase cycles and long product cycles
  • Unique franchise characteristics

 

Shareholder-Oriented Management

Yacktman believes a shareholder-oriented management does not overcompensate itself and wisely allocates the cash the company generates. Yacktman looks for companies that:

  • Reinvest in the business and still have excess cash
  • Make synergistic acquisitions
  • Buy back stock

 

Low Purchase Price

  • Yacktman looks for a stock that sells for less than what an investor would pay to buy the whole company
  • The stock prices of individual companies can vary significantly over short periods of time, and such price movements are not always correlated with changes in company fundamental performance. Accordingly, Yacktman generally prefers to wait for buying opportunities. Such opportunities do not always occur in correlation with overall market performance trends

     

Additional Fund Highlight

May establish a cash position if the subadvisor does not believe opportunities exist for purchasing securities of companies that meet its investment requirements.


The Next Inflection Point? A Conservative Approach for U.S. Equity Investors

The U.S. equity market has benefited from a strong rally lasting nearly 9 years. During this time, U.S. equity valuations have inflated and decoupled from other developed markets. This insight presents a potential solution to help investors seeking U.S. equity exposure while managing the risk of a potential downturn.
Read Full Perspective More About Yacktman Asset Management
Webinar | Oct 30, 2018

Yacktman Funds Quarterly Update

Yacktman Asset Management will be joining AMG Funds for an upcoming webinar discussing quarterly updates to the AMG Yacktman Fund and the AMG Yacktman Focused Fund.
Register Now

FA Magazine: A Time for Caution

During turbulent times, it is important to have a manager with a proven track record and experience in successfully investing through multiple market cycles. This article by FA Magazine analyzes the AMG Yacktman Fund's investment strategy and performance in volatile markets.
Read Full Perspective More About Yacktman Asset Management

About

About Yacktman Asset Management

Background

Yacktman Asset Management is a boutique investment advisory firm located in Austin, Texas. Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. The firm strives to achieve solid risk-adjusted returns over time.

Learn More

More Funds From Yacktman Asset Management

YAFFX

Yacktman Focused Fund

The Fund seeks long-term capital appreciation and, to a lesser extent, current income by primarily investing in common stocks of U.S. companies.

View Fund Details

YASSX

Yacktman Special Opportunities Fund

The Fund seeks long-term capital appreciation through an intrinsic value-oriented investment approach.

View Fund Details

YFSIX

Yacktman Focused Fund - Security Selection Only

The Fund seeks to generate equity-like rates of return over a full market cycle while managing the level of risk.

View Fund Details

Founded

1992


Headquarters

Austin, TX


Affiliate Since

2012


AUM

$14.1B

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