Fund Overview

Share Class

N

NAV | as of 02/26/2024

$8.77
-$0.01 (-0.11%)

Morningstar | Style Box

L M E H M L

Growth of $10,000 (Hypothetical)

Since Inception 07/18/2011 to 01/31/2024 = $13,544.81

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.
SEE ALL PERFORMANCE

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 800.548.4539. 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 income and capital growth by investing primarily in a diversified portfolio of fixed-income securities across investment-grade, high-yield, and non-traditional fixed-income asset classes.

Why Consider

  • Provides investors with exposure to a diversified portfolio of fixed-income securities
  • The Fund employs a disciplined, team-based approach, seeking to add consistent value through management of duration, yield curve, and credit risk
  • The investment strategy utilizes a long-established process of macro driven duration management, yield-curve positioning, and credit allocation with the ability to tactically allocate up to 30% of the portfolio in high-yield bonds and other fixed-income asset classes as opportunities arise

Performance

Performance

Read Important Investment Disclosures

Returns

Trailing Returns

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 800.548.4539. 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 shorter than one year are not annualized.

Expense Ratios

  • Gross Expense Ratio: 0.73%
  • Net Expense Ratio: 0.69%
  • Expense Cap Expiration Date: 03/01/2024

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Jan 29, 2024 $0.031100 $0.031100
Dec 14, 2023 $0.035100 $0.035100
Nov 28, 2023 $0.031700 $0.031700
Oct 27, 2023 $0.027200 $0.027200
Sep 27, 2023 $0.027700 $0.027700
Aug 29, 2023 $0.028900 $0.028900
Jul 27, 2023 $0.026300 $0.026300
Jun 28, 2023 $0.028000 $0.028000
May 26, 2023 $0.028100 $0.028100
Apr 26, 2023 $0.028100 $0.028100
Mar 29, 2023 $0.029900 $0.029900
Feb 24, 2023 $0.026500 $0.026500
Jan 27, 2023 $0.024900 $0.024900
Dec 15, 2022 $0.046000 $0.046000
Nov 28, 2022 $0.035900 $0.035900
Oct 27, 2022 $0.033100 $0.033100
Sep 28, 2022 $0.026100 $0.026100
Aug 29, 2022 $0.023300 $0.023300
Jul 27, 2022 $0.027600 $0.027600
Jun 28, 2022 $0.024600 $0.024600
May 26, 2022 $0.024100 $0.024100
Apr 27, 2022 $0.023200 $0.023200
Mar 29, 2022 $0.022400 $0.022400
Feb 24, 2022 $0.021600 $0.021600
Jan 27, 2022 $0.020800 $0.020800
Dec 15, 2021 $0.022600 $0.022600
Nov 26, 2021 $0.025900 $0.025900
Oct 27, 2021 $0.023500 $0.023500
Sep 28, 2021 $0.018600 $0.018600
Aug 27, 2021 $0.019300 $0.019300
Jul 28, 2021 $0.019300 $0.019300
Jun 28, 2021 $0.018800 $0.018800
May 26, 2021 $0.017800 $0.017800
Apr 28, 2021 $0.021100 $0.021100
Mar 29, 2021 $0.020000 $0.020000
Feb 24, 2021 $0.018600 $0.018600
Jan 27, 2021 $0.019900 $0.019900
Dec 16, 2020 $0.048200 $0.048200
Nov 25, 2020 $0.029200 $0.029200
Oct 28, 2020 $0.022400 $0.022400
Sep 28, 2020 $0.021000 $0.021000
Aug 27, 2020 $0.019400 $0.019400
Jul 29, 2020 $0.019100 $0.019100
Jun 26, 2020 $0.022900 $0.022900
May 27, 2020 $0.016800 $0.016800
Apr 28, 2020 $0.031200 $0.031200
Mar 27, 2020 $0.033000 $0.033000
Feb 26, 2020 $0.023400 $0.023400
Jan 29, 2020 $0.024300 $0.024300
Dec 16, 2019 $0.028000 $0.028000
Nov 26, 2019 $0.033600 $0.033600
Oct 29, 2019 $0.032700 $0.032700
Sep 26, 2019 $0.027600 $0.027600
Aug 28, 2019 $0.027500 $0.027500
Jul 29, 2019 $0.030500 $0.030500
Jun 26, 2019 $0.029900 $0.029900
May 29, 2019 $0.028300 $0.028300
Apr 26, 2019 $0.029600 $0.029600
Mar 27, 2019 $0.032300 $0.032300
Feb 26, 2019 $0.024300 $0.024300
Jan 29, 2019 $0.026600 $0.026600
Dec 27, 2018 $0.040900 $0.040900
Nov 28, 2018 $0.032200 $0.032200
Oct 29, 2018 $0.025700 $0.025700
Sep 26, 2018 $0.032200 $0.032200
Aug 29, 2018 $0.032600 $0.032600
Jul 27, 2018 $0.032000 $0.032000
Jun 27, 2018 $0.024500 $0.024500
May 29, 2018 $0.024600 $0.024600
Apr 26, 2018 $0.023500 $0.023500
Mar 27, 2018 $0.024000 $0.024000
Feb 26, 2018 $0.022800 $0.022800
Jan 29, 2018 $0.022000 $0.022000
Dec 27, 2017 $0.021400 $0.021400
Nov 27, 2017 $0.024100 $0.024100
Oct 26, 2017 $0.024500 $0.024500
Sep 26, 2017 $0.024700 $0.024700
Aug 28, 2017 $0.027100 $0.027100
Jul 26, 2017 $0.022100 $0.022100
Jun 27, 2017 $0.032100 $0.032100
May 25, 2017 $0.032000 $0.032000
Apr 25, 2017 $0.031900 $0.031900
Mar 28, 2017 $0.027000 $0.027000
Feb 23, 2017 $0.024600 $0.024600
Jan 26, 2017 $0.025000 $0.025000
Dec 27, 2016 $0.073500 $0.052700 $0.020800
Nov 25, 2016 $0.025100 $0.025100
Oct 26, 2016 $0.025200 $0.025200
Sep 30, 2016 $0.025900 $0.025900
Aug 31, 2016 $0.028800 $0.028800
Jul 29, 2016 $0.024900 $0.024900
Jun 30, 2016 $0.026400 $0.026400
May 31, 2016 $0.026500 $0.026500
Apr 29, 2016 $0.023500 $0.023500
Mar 31, 2016 $0.026200 $0.026200
Feb 29, 2016 $0.023200 $0.023200
Jan 29, 2016 $0.018900 $0.018900
Dec 30, 2015 $0.031900 $0.031900
Nov 30, 2015 $0.030900 $0.030900
Oct 30, 2015 $0.026900 $0.026900
Sep 30, 2015 $0.028100 $0.028100
Aug 31, 2015 $0.031800 $0.031800
Jul 31, 2015 $0.033200 $0.033200
Jun 30, 2015 $0.035700 $0.035700
May 29, 2015 $0.031100 $0.031100
Apr 30, 2015 $0.032100 $0.032100
Mar 31, 2015 $0.031500 $0.031500
Feb 27, 2015 $0.033200 $0.033200
Jan 30, 2015 $0.032300 $0.032300
Dec 30, 2014 $0.033800 $0.033800
Nov 28, 2014 $0.023700 $0.023700
Oct 31, 2014 $0.024800 $0.024800
Sep 30, 2014 $0.035700 $0.035700
Aug 29, 2014 $0.030400 $0.030400
Jul 31, 2014 $0.037400 $0.037400
Jun 30, 2014 $0.039800 $0.039800
May 30, 2014 $0.035500 $0.035500
Apr 30, 2014 $0.037500 $0.037500
Mar 31, 2014 $0.037200 $0.037200
Feb 28, 2014 $0.031200 $0.031200
Jan 31, 2014 $0.035400 $0.035400
Dec 30, 2013 $0.036900 $0.036900
Nov 29, 2013 $0.030300 $0.030300
Oct 31, 2013 $0.033000 $0.033000
Sep 30, 2013 $0.035100 $0.035100
Aug 30, 2013 $0.030900 $0.030900
Jul 31, 2013 $0.033100 $0.033100
Jun 28, 2013 $0.026200 $0.026200
May 31, 2013 $0.028700 $0.028700
Apr 30, 2013 $0.030800 $0.030800
Mar 28, 2013 $0.025100 $0.025100
Feb 28, 2013 $0.026100 $0.026100
Jan 31, 2013 $0.025100 $0.025100
Dec 28, 2012 $0.087900 $0.027800 $0.058800 $0.001300
Nov 30, 2012 $0.037100 $0.037100
Oct 31, 2012 $0.031700 $0.031700
Sep 28, 2012 $0.025900 $0.025900
Aug 31, 2012 $0.028200 $0.028200
Jul 31, 2012 $0.026500 $0.026500
Jun 29, 2012 $0.025000 $0.025000
May 31, 2012 $0.031300 $0.031300
Apr 30, 2012 $0.032000 $0.032000
Mar 30, 2012 $0.027500 $0.027500
Feb 29, 2012 $0.028100 $0.028100
Jan 31, 2012 $0.029500 $0.029500
Dec 29, 2011 $0.065700 $0.050400 $0.015300
Nov 30, 2011 $0.038800 $0.038800
Oct 31, 2011 $0.036200 $0.036200
Sep 30, 2011 $0.028100 $0.028100
Aug 31, 2011 $0.023100 $0.023100
Jul 29, 2011 $0.004500 $0.004500

Risk & Return Statistics

As of: 01/31/2024

3YR 5YR 10YR
Alpha
Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha.
-0.23 -0.60 -
Standard Deviation
Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance.
7.24 7.12 5.32
Sharpe Ratio
Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance.
-0.80 -0.25 0.04
Upside Capture Ratio (%)
Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets.
100.84 106.93 100.30
Downside Capture Ratio (%)
Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets.
102.31 112.23 101.77
Beta
Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk.
1.00 1.00 0.96
R-Squared
R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures.
97.58 73.37 72.81
Tracking Error (%)
Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero.
1.13 3.68 2.78
View All Characteristics & Statistics

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Fixed)

As of: 12/31/2023

United States Treasury Note/Bond Fixed 14.71%
United States Treasury Note/Bond Fixed 9.20%
United States Treasury Note/Bond Fixed 8.18%
United States Treasury Note/Bond Fixed 3.44%
Fannie Mae Pool BL4421 Fixed 3.25%
Bank of America Corp Floating 2.28%
United States Treasury Note/Bond Fixed 2.27%
Fannie Mae Pool BL5484 Fixed 2.20%
Toronto-Dominion Bank Floating 1.88%
Mileage Plus Holdings LLC Term Loan Floating 1.69%
% in Top 10 Holdings 49.08%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Fixed)

As of: 12/31/2023

View Allocation Details

About the Affiliate

About Beutel Goodman

Founded in 1967, Beutel, Goodman & Company Ltd. is an independent value-focused investment manager that serves institutional, private wealth, and retail clients. The firm’s equity strategies use bottom-up, fundamental research to invest in high-quality companies trading at discounts to their business value. Beutel Goodman takes a disciplined, team-based approach to fixed income, seeking to add value through management of duration, yield curve, and credit risk.

Learn More About Beutel Goodman's Approach

FOUNDED

1967

AMG AFFILIATE SINCE

2005

HEADQUARTERS

Toronto, Canada

Portfolio Managers

Derek Brown, MBA, CFA

SENIOR VICE PRESIDENT, CO-HEAD OF FIXED INCOME

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Sue McNamara, CFA

SENIOR VICE PRESIDENT, FIXED INCOME

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Neil McCabe, MBA, CFA

VICE PRESIDENT, FIXED INCOME

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Investment Approach

Investment Approach

Beutel Goodman Core Plus Bond Fund

Beutel Goodman’s fixed income team has the experience and expertise to effectively interpret the yield curve and prevailing interest rate environment. Employing proprietary tools in a risk-focused process, their insights add value to the benchmark over an economic cycle.

Beutel Goodman continually challenges the herd consensus and searches for opportunities where the market has mispriced risk and reward. Their fixed income team:

  • Forecasts interest rates and assesses optimal duration and positioning of maturities on the yield curve
  • Conducts rigorous independent credit research to identify high-quality corporate bonds that meet their strict investment criteria
  • Considers risk before reward
  • Looks beyond the numbers to consider how ESG factors may impact companies over the long term

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