Fund Overview

Share Class

I

NAV | as of 11/05/2024

$8.81
+$0.02 (+0.23%)

Morningstar | Style Box

L M E H M L

Growth of $10,000 (Hypothetical)

Since Inception 07/18/2011 to 10/31/2024 = $14,278.18

  • 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: 0.57%
  • Net Expense Ratio: 0.48%
  • Expense Cap Expiration Date: 03/01/2025

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Oct 29, 2024 $0.032000 $0.032000 — —
Sep 26, 2024 $0.033500 $0.033500 — —
Aug 28, 2024 $0.033300 $0.033300 — —
Jul 29, 2024 $0.033500 $0.033500 — —
Jun 26, 2024 $0.032700 $0.032700 — —
May 29, 2024 $0.034400 $0.034400 — —
Apr 26, 2024 $0.032800 $0.032800 — —
Mar 26, 2024 $0.032700 $0.032700 — —
Feb 27, 2024 $0.030700 $0.030700 — —
Jan 29, 2024 $0.032600 $0.032600 — —
Dec 14, 2023 $0.036600 $0.036600 — —
Nov 28, 2023 $0.033200 $0.033200 — —
Oct 27, 2023 $0.028800 $0.028800 — —
Sep 27, 2023 $0.029100 $0.029100 — —
Aug 29, 2023 $0.030400 $0.030400 — —
Jul 27, 2023 $0.027800 $0.027800 — —
Jun 28, 2023 $0.029500 $0.029500 — —
May 26, 2023 $0.029600 $0.029600 — —
Apr 26, 2023 $0.029600 $0.029600 — —
Mar 29, 2023 $0.031400 $0.031400 — —
Feb 24, 2023 $0.027900 $0.027900 — —
Jan 27, 2023 $0.026400 $0.026400 — —
Dec 15, 2022 $0.047500 $0.047500 — —
Nov 28, 2022 $0.037300 $0.037300 — —
Oct 27, 2022 $0.034600 $0.034600 — —
Sep 28, 2022 $0.027600 $0.027600 — —
Aug 29, 2022 $0.024900 $0.024900 — —
Jul 27, 2022 $0.029200 $0.029200 — —
Jun 28, 2022 $0.026100 $0.026100 — —
May 26, 2022 $0.025700 $0.025700 — —
Apr 27, 2022 $0.024900 $0.024900 — —
Mar 29, 2022 $0.024200 $0.024200 — —
Feb 24, 2022 $0.023200 $0.023200 — —
Jan 27, 2022 $0.022600 $0.022600 — —
Dec 15, 2021 $0.024400 $0.024400 — —
Nov 26, 2021 $0.027700 $0.027700 — —
Oct 27, 2021 $0.025300 $0.025300 — —
Sep 28, 2021 $0.022700 $0.022700 — —
Aug 27, 2021 $0.021200 $0.021200 — —
Jul 28, 2021 $0.021100 $0.021100 — —
Jun 28, 2021 $0.020600 $0.020600 — —
May 26, 2021 $0.020100 $0.020100 — —
Apr 28, 2021 $0.023200 $0.023200 — —
Mar 29, 2021 $0.022300 $0.022300 — —
Feb 24, 2021 $0.020700 $0.020700 — —
Jan 27, 2021 $0.022200 $0.022200 — —
Dec 16, 2020 $0.050600 $0.050600 — —
Nov 25, 2020 $0.031500 $0.031500 — —
Oct 28, 2020 $0.024700 $0.024700 — —
Sep 28, 2020 $0.023300 $0.023300 — —
Aug 27, 2020 $0.021700 $0.021700 — —
Jul 29, 2020 $0.021400 $0.021400 — —
Jun 26, 2020 $0.025100 $0.025100 — —
May 27, 2020 $0.019000 $0.019000 — —
Apr 28, 2020 $0.033300 $0.033300 — —
Mar 27, 2020 $0.035200 $0.035200 — —
Feb 26, 2020 $0.025500 $0.025500 — —
Jan 29, 2020 $0.026600 $0.026600 — —
Dec 16, 2019 $0.030300 $0.030300 — —
Nov 26, 2019 $0.035800 $0.035800 — —
Oct 29, 2019 $0.035100 $0.035100 — —
Sep 26, 2019 $0.029800 $0.029800 — —
Aug 28, 2019 $0.029800 $0.029800 — —
Jul 29, 2019 $0.032800 $0.032800 — —
Jun 26, 2019 $0.032100 $0.032100 — —
May 29, 2019 $0.030600 $0.030600 — —
Apr 26, 2019 $0.031800 $0.031800 — —
Mar 27, 2019 $0.034000 $0.034000 — —
Feb 26, 2019 $0.026400 $0.026400 — —
Jan 29, 2019 $0.028800 $0.028800 — —
Dec 27, 2018 $0.043000 $0.043000 — —
Nov 28, 2018 $0.034300 $0.034300 — —
Oct 29, 2018 $0.028300 $0.028300 — —
Sep 26, 2018 $0.034300 $0.034300 — —
Aug 29, 2018 $0.035000 $0.035000 — —
Jul 27, 2018 $0.034300 $0.034300 — —
Jun 27, 2018 $0.026900 $0.026900 — —
May 29, 2018 $0.026800 $0.026800 — —
Apr 26, 2018 $0.025500 $0.025500 — —
Mar 27, 2018 $0.026300 $0.026300 — —
Feb 26, 2018 $0.024900 $0.024900 — —
Jan 29, 2018 $0.024300 $0.024300 — —
Dec 27, 2017 $0.023700 $0.023700 — —
Nov 27, 2017 $0.026300 $0.026300 — —
Oct 26, 2017 $0.026900 $0.026900 — —
Sep 26, 2017 $0.026900 $0.026900 — —
Aug 28, 2017 $0.029400 $0.029400 — —
Jul 26, 2017 $0.024400 $0.024400 — —
Jun 27, 2017 $0.034600 $0.034600 — —
May 25, 2017 $0.034300 $0.034300 — —
Apr 25, 2017 $0.034300 $0.034300 — —
Mar 28, 2017 $0.029300 $0.029300 — —
Feb 23, 2017 $0.026700 $0.026700 — —
Jan 26, 2017 $0.027300 $0.027300 — —
Dec 27, 2016 $0.075800 $0.055000 $0.020800 —
Nov 25, 2016 $0.027300 $0.027300 — —
Oct 26, 2016 $0.027600 $0.027600 — —
Sep 30, 2016 $0.028200 $0.028200 — —
Aug 31, 2016 $0.031200 $0.031200 — —
Jul 29, 2016 $0.027100 $0.027100 — —
Jun 30, 2016 $0.028600 $0.028600 — —
May 31, 2016 $0.028900 $0.028900 — —
Apr 29, 2016 $0.025600 $0.025600 — —
Mar 31, 2016 $0.028400 $0.028400 — —
Feb 29, 2016 $0.025400 $0.025400 — —
Jan 29, 2016 $0.020500 $0.020500 — —
Dec 30, 2015 $0.034200 $0.034200 — —
Nov 30, 2015 $0.033100 $0.033100 — —
Oct 30, 2015 $0.028900 $0.028900 — —
Sep 30, 2015 $0.030200 $0.030200 — —
Aug 31, 2015 $0.034000 $0.034000 — —
Jul 31, 2015 $0.035400 $0.035400 — —
Jun 30, 2015 $0.038000 $0.038000 — —
May 29, 2015 $0.033200 $0.033200 — —
Apr 30, 2015 $0.034300 $0.034300 — —
Mar 31, 2015 $0.033100 $0.033100 — —
Feb 27, 2015 $0.035200 $0.035200 — —
Jan 30, 2015 $0.034500 $0.034500 — —
Dec 30, 2014 $0.036000 $0.036000 — —
Nov 28, 2014 $0.025700 $0.025700 — —
Oct 31, 2014 $0.027000 $0.027000 — —
Sep 30, 2014 $0.038000 $0.038000 — —
Aug 29, 2014 $0.032600 $0.032600 — —
Jul 31, 2014 $0.039800 $0.039800 — —
Jun 30, 2014 $0.042100 $0.042100 — —
May 30, 2014 $0.037700 $0.037700 — —
Apr 30, 2014 $0.039700 $0.039700 — —
Mar 31, 2014 $0.039400 $0.039400 — —
Feb 28, 2014 $0.033200 $0.033200 — —
Jan 31, 2014 $0.037600 $0.037600 — —
Dec 30, 2013 $0.039400 $0.039400 — —
Nov 29, 2013 $0.032900 $0.032900 — —
Oct 31, 2013 $0.035300 $0.035300 — —
Sep 30, 2013 $0.037500 $0.037500 — —
Aug 30, 2013 $0.033200 $0.033200 — —
Jul 31, 2013 $0.035900 $0.035900 — —
Jun 28, 2013 $0.028300 $0.028300 — —
May 31, 2013 $0.031000 $0.031000 — —
Apr 30, 2013 $0.033300 $0.033300 — —
Mar 28, 2013 $0.027300 $0.027300 — —
Feb 28, 2013 $0.028200 $0.028200 — —
Jan 31, 2013 $0.027300 $0.027300 — —
Dec 28, 2012 $0.090200 $0.030100 $0.058800 $0.001300
Nov 30, 2012 $0.039200 $0.039200 — —
Oct 31, 2012 $0.034300 $0.034300 — —
Sep 28, 2012 $0.028000 $0.028000 — —
Aug 31, 2012 $0.030500 $0.030500 — —
Jul 31, 2012 $0.028200 $0.028200 — —
Jun 29, 2012 $0.026900 $0.026900 — —
May 31, 2012 $0.033700 $0.033700 — —
Apr 30, 2012 $0.034300 $0.034300 — —
Mar 30, 2012 $0.029800 $0.029800 — —
Feb 29, 2012 $0.030600 $0.030600 — —
Jan 31, 2012 $0.031800 $0.031800 — —
Dec 29, 2011 $0.068000 $0.052700 $0.015300 —
Nov 30, 2011 $0.040900 $0.040900 — —
Oct 31, 2011 $0.038300 $0.038300 — —
Sep 30, 2011 $0.029800 $0.029800 — —
Aug 31, 2011 $0.024600 $0.024600 — —
Jul 29, 2011 $0.005000 $0.005000 — —

Risk & Return Statistics

As of: 10/31/2024

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.
-0.28 -0.11 0.05
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.
7.78 7.40 5.52
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.
-0.81 -0.39 -0.05
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.
100.79 113.95 100.20
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.
102.56 110.08 100.70
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.
1.01 1.03 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.
98.31 76.70 75.25
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.
1.01 3.58 2.75
View All Characteristics & Statistics

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Fixed)

As of: 09/30/2024

United States Treasury Note/Bond Fixed 8.80%
United States Treasury Note/Bond Fixed 4.58%
Fannie Mae Pool FS2676 Fixed 3.55%
Fannie Mae Pool BL4421 Fixed 3.48%
United States Treasury Note/Bond Fixed 2.90%
United States Treasury Note/Bond Fixed 2.87%
Bank of America Corp Floating 2.42%
Fannie Mae Pool BL5484 Fixed 2.36%
United States Treasury Note/Bond Fixed 2.27%
Mileage Plus Holdings LLC Fixed 144A 1.86%
% in Top 10 Holdings 35.08%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Fixed)

As of: 09/30/2024

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

Read full bio
Sue McNamara, CFA

SENIOR VICE PRESIDENT, FIXED INCOME

Read full bio
Neil McCabe, MBA, CFA

VICE PRESIDENT, FIXED INCOME

Read full bio

Investment Approach

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