An Active Fixed Income Fund for an Uncertain Rate Environment

Help navigate an uncertain rate environment with active bond management. A manager who understands the variability in asset classes can be highly selective about which companies and countries to invest in to help drive performance for investors.

  • September 2019

Consider a Core Plus Approach to Fixed Income

  • AMG Mangagers DoubleLine Core Plus Bond Fund is a total return oriented fund invested across multiple asset classes, including non-core areas such as high yield, emerging markets and bank loans, to help manage interest rate exposure.
  • The DoubleLine portfolio management team believes the most reliable way to enhance returns is to exploit inefficiencies within the subsectors of the fixed income market while maintaining risk management constraints.

Actively Pursuing Outperformance

The Fund’s management team employs bottom-up security selection and sector rotation to capture tactical opportunities in the portfolio. Since the Fund’s inception in 2011, the team has rotated portfolio assets among sectors in various markets to help maximize return. Timeline events listed below are for reference only and are not indicative of macroeconomic bets. 

As of September 30, 2019.
1 Collateralized Loan Obligations, Cash Equivalents and Other, Bank Loans, Foreign Government Bonds, Municipal Bonds, U.S. Govt Agency and Foreign Corporate Bonds.
Past performance is no guarantee of future results. Current and future portfolio holdings are subject to change and risk.

A Fund to Consider:

AMG Managers DoubleLine Core Plus Bond Fund

As of 09/30/19, ADBLX was rated was rated 3, 3, and 3 stars for the Overall, 3-, and 5-year periods against 539, 539, and 448 Intermediate Core-Plus Bond, respectively.

Help navigate an uncertain rate environment with a core plus bond strategy

AMG Managers DoubleLine Core Plus Bond Fund offers investors: 

  • Experienced Investment Management Team that has worked together for decades managing fixed income portfolios
  • Broad diversification across sectors to help mitigate risk
  • Flexibility to tactically allocate to the most promising market opportunities, leveraging firm-wide capabilities
  • Bottom-up research approach focused on the analysis of the individual securities with top down sector allocation

Strong performance over time


Expense Ratios (gross/net): Class N: 1.04%/0.97%; Class I: 0.79%/0.72%; Class Z: 0.71%/0.64%3

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.

1 Since inception of the Fund’s Class N and Class I shares on July 18, 2011.
2 Since inception of the Fund’s Class Z shares on September 29, 2017.
3 The Fund’s Investment Manager has contractually agreed, through March 1, 2020, to limit fund operating expenses. The net expense ratio reflects this limitation, while the gross expense ratio does not. Please refer to the Fund’s prospectus for additional information on the Fund’s expenses.

Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800.835.3879 or visit amgfunds.com for a free prospectus. Read it carefully before investing or sending money.

The Fund is subject to the risks associated with investments in debt securities, such as default risk and fluctuations in the perception of the debtor’s ability to pay its creditors. Changing interest rates may adversely affect the value of an investment. An increase in interest rates typically causes the value of bonds and other fixed income securities to fall.

Investments in international securities are subject to certain risks of overseas investing including currency fluctuations and changes in political and economic conditions, which could result in significant market fluctuations.

The Fund is subject to the risks associated with investments in emerging markets, such as erratic earnings patterns, economic and political instability, changing exchange controls, limitations on repatriation of foreign capital and changes in local governmental attitudes toward private investment, possibly leading to nationalization or confiscation of investor assets.

Diversification does not assure a profit or protect against a loss.

To the extent that the Fund invests in asset-backed or mortgage-backed securities, its exposure to prepayment and extension risks may be greater than investments in other fixed income securities.

High-yield bonds (also known as “junk bonds”) may be subject to greater levels of interest rate, credit, and liquidity risk than investments in higher rated securities. These securities are considered predominantly speculative with respect to the issuer’s continuing ability to make principal and interest payments. The issuers of the Fund’s holdings may be involved in bankruptcy proceedings, reorganizations, or financial restructurings, and are not as strong financially as higher-rated issuers.

Bank loans are subject to the credit risk of nonpayment of principal or interest. 

Factors unique to the municipal bond market may negatively affect the value in municipal bonds.

Active and frequent trading of a fund may result in higher transaction costs and increased tax liability. ​

Obligations of certain government agencies are not backed by the full faith and credit of the U.S. government. If one of these agencies defaulted on a loan, there is no guarantee that the U.S. government would provide financial support. Additionally, debt securities of the U.S. government may be affected by changing interest rates and subject to prepayment risk.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

Morningstar Rating is for the share class indicated only (see ticker); other share classes may have different performance characteristics. The Ranking may reflect the waiver of all or a portion of the fund’s fees. Without such waiver, the Rankings may have been lower. Past performance is no guarantee of future results.

© 2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. 

The Bloomberg Barclays U.S. Aggregate Bond Index is an unmanaged index representing more than 5,000 taxable government, investment-grade corporate and mortgage-backed securities. Indices are adjusted for the reinvestment of capital gains and income dividends. Unlike the Fund, the Index is unmanaged, is not available for investment and does not incur expenses.

AMG Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC.

Not FDIC Insured | May Lose Value | Not Bank Guaranteed

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