Fund Overview

Share Class

I

NAV | as of 02/27/2024

$8.95
-$0.05 (-0.26%)

Morningstar | Style Box

L M E H M L

Growth of $10,000 (Hypothetical)

Since Inception 11/30/2012 to 01/31/2024 = $11,918.30

  • 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 achieve the highest level of income, as is consistent with the preservation of capital by primarily investing in a diversified portfolio of fixed income securities.

Why Consider

  • Provides investors with exposure to a diversified portfolio of fixed income securities
  • Manages risk by monitoring portfolio duration, credit quality, sector over/under weightings relative to the benchmark and changes in fundamentals driving credit quality
  • The Fund employs a multi-sector approach designed to take advantage of the relative valuations among distinct bond sectors and provide greater opportunities to generate income and capital appreciation, while helping to manage risk in changing economic environments

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: 0.83%
  • Net Expense Ratio: 0.56%
  • Expense Cap Expiration Date: 05/01/2024

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Feb 27, 2024 $0.026700 $0.026700
Jan 29, 2024 $0.026700 $0.026700
Dec 14, 2023 $0.026500 $0.026500
Nov 28, 2023 $0.026100 $0.026100
Oct 27, 2023 $0.027200 $0.027200
Sep 27, 2023 $0.025700 $0.025700
Aug 29, 2023 $0.025400 $0.025400
Jul 27, 2023 $0.025000 $0.025000
Jun 28, 2023 $0.025100 $0.025100
May 26, 2023 $0.024400 $0.024400
Apr 26, 2023 $0.023500 $0.023500
Mar 29, 2023 $0.025100 $0.025100
Feb 24, 2023 $0.021900 $0.021900
Jan 27, 2023 $0.023200 $0.023200
Dec 15, 2022 $0.025000 $0.025000
Nov 28, 2022 $0.021800 $0.021800
Oct 27, 2022 $0.021300 $0.021300
Sep 28, 2022 $0.019700 $0.019700
Aug 29, 2022 $0.018700 $0.018700
Jul 27, 2022 $0.018100 $0.018100
Jun 28, 2022 $0.017500 $0.017500
May 26, 2022 $0.016300 $0.016300
Apr 27, 2022 $0.013200 $0.013200
Mar 29, 2022 $0.013400 $0.013400
Feb 24, 2022 $0.011900 $0.011900
Jan 27, 2022 $0.012100 $0.012100
Dec 15, 2021 $0.018900 $0.018900
Nov 26, 2021 $0.012800 $0.012800
Oct 27, 2021 $0.012300 $0.012300
Sep 28, 2021 $0.012800 $0.012800
Aug 27, 2021 $0.013900 $0.013900
Jul 28, 2021 $0.014400 $0.014400
Jun 28, 2021 $0.014300 $0.014300
May 26, 2021 $0.013800 $0.013800
Apr 28, 2021 $0.013700 $0.013700
Mar 29, 2021 $0.014700 $0.014700
Feb 24, 2021 $0.014200 $0.014200
Jan 27, 2021 $0.016900 $0.016900
Dec 16, 2020 $0.014700 $0.014700
Nov 25, 2020 $0.015500 $0.015500
Oct 28, 2020 $0.016400 $0.016400
Sep 28, 2020 $0.016200 $0.016200
Aug 27, 2020 $0.016600 $0.016600
Jul 29, 2020 $0.016300 $0.016300
Jun 26, 2020 $0.019000 $0.019000
May 27, 2020 $0.019500 $0.019500
Apr 28, 2020 $0.018500 $0.018500
Mar 27, 2020 $0.021000 $0.021000
Feb 26, 2020 $0.020100 $0.020100
Jan 29, 2020 $0.021400 $0.021400
Dec 16, 2019 $0.025300 $0.025300
Nov 26, 2019 $0.019500 $0.019500
Oct 29, 2019 $0.019400 $0.019400
Sep 26, 2019 $0.020500 $0.020500
Aug 28, 2019 $0.021400 $0.021400
Jul 29, 2019 $0.022900 $0.022900
Jun 26, 2019 $0.022500 $0.022500
May 29, 2019 $0.023400 $0.023400
Apr 26, 2019 $0.023500 $0.023500
Mar 27, 2019 $0.023600 $0.023600
Feb 26, 2019 $0.022000 $0.022000
Jan 29, 2019 $0.021400 $0.021400
Dec 27, 2018 $0.024100 $0.024100
Nov 28, 2018 $0.021100 $0.021100
Oct 29, 2018 $0.022100 $0.022100
Sep 26, 2018 $0.021100 $0.021100
Aug 29, 2018 $0.021200 $0.021200
Jul 27, 2018 $0.022600 $0.022600
Jun 27, 2018 $0.022800 $0.022800
May 29, 2018 $0.020700 $0.020700
Apr 26, 2018 $0.018800 $0.018800
Mar 27, 2018 $0.020700 $0.020700
Feb 26, 2018 $0.019300 $0.019300
Jan 29, 2018 $0.018200 $0.018200
Dec 27, 2017 $0.022300 $0.022300
Nov 27, 2017 $0.019200 $0.019200
Oct 26, 2017 $0.019200 $0.019200
Sep 26, 2017 $0.019300 $0.019300
Aug 28, 2017 $0.021700 $0.021700
Jul 26, 2017 $0.017400 $0.017400
Jun 27, 2017 $0.020700 $0.020700
May 25, 2017 $0.020700 $0.020700
Apr 25, 2017 $0.021200 $0.021200
Mar 28, 2017 $0.021200 $0.021200
Feb 23, 2017 $0.015800 $0.015800
Jan 26, 2017 $0.018200 $0.018200
Dec 27, 2016 $0.021400 $0.021400
Nov 25, 2016 $0.021200 $0.021200
Oct 26, 2016 $0.019200 $0.019200
Sep 27, 2016 $0.019200 $0.019200
Aug 26, 2016 $0.021200 $0.021200
Jul 26, 2016 $0.021200 $0.021200
Jun 27, 2016 $0.019200 $0.019200
May 25, 2016 $0.019200 $0.019200
Apr 26, 2016 $0.019200 $0.019200
Mar 28, 2016 $0.019200 $0.019200
Feb 24, 2016 $0.019300 $0.019300
Jan 26, 2016 $0.020400 $0.020400
Dec 28, 2015 $0.026200 $0.026200
Nov 24, 2015 $0.024500 $0.024500
Oct 27, 2015 $0.023700 $0.023700
Sep 25, 2015 $0.023600 $0.023600
Aug 26, 2015 $0.025600 $0.025600
Jul 28, 2015 $0.025600 $0.025600
Jun 25, 2015 $0.027100 $0.027100
May 26, 2015 $0.025600 $0.025600
Apr 27, 2015 $0.026800 $0.026800
Mar 26, 2015 $0.028100 $0.028100
Feb 24, 2015 $0.028100 $0.028100
Jan 27, 2015 $0.026100 $0.026100
Dec 26, 2014 $0.026500 $0.026500
Nov 24, 2014 $0.026100 $0.026100
Oct 28, 2014 $0.026000 $0.026000
Sep 25, 2014 $0.025700 $0.025700
Aug 26, 2014 $0.025600 $0.025600
Jul 28, 2014 $0.024700 $0.024700
Jun 25, 2014 $0.024200 $0.024200
May 27, 2014 $0.026200 $0.026200
Apr 25, 2014 $0.027200 $0.027200
Mar 26, 2014 $0.026700 $0.026700
Feb 25, 2014 $0.026800 $0.026800
Jan 28, 2014 $0.024200 $0.024200
Dec 26, 2013 $1.089000 $0.037600 $0.048600 $1.002800
Nov 25, 2013 $0.027600 $0.027600
Oct 28, 2013 $0.024100 $0.024100
Sep 25, 2013 $0.017700 $0.017700
Aug 27, 2013 $0.016600 $0.016600
Jul 26, 2013 $0.015200 $0.015200
Jun 25, 2013 $0.017500 $0.017500
May 28, 2013 $0.024100 $0.024100
Apr 25, 2013 $0.019100 $0.019100
Mar 25, 2013 $0.022600 $0.022600
Feb 25, 2013 $0.020000 $0.020000
Jan 28, 2013 $0.040100 $0.040100
Dec 26, 2012 $0.159700 $0.050100 $0.001400 $0.108200

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.
0.15 0.51 -0.18
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 6.93 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.
-0.73 -0.08 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.
107.10 118.97 110.45
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.
104.81 107.53 108.79
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.
1.09 1.10 1.07
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.
98.90 93.51 90.04
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.
1.02 1.87 1.71
View All Characteristics & Statistics

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Fixed)

As of: 12/31/2023

United States Treasury Note/Bond Fixed 2.90%
United States Treasury Note/Bond Fixed 2.75%
United States Treasury Note/Bond Fixed 2.49%
Fannie Mae Pool FM3229 Fixed 2.13%
Fannie Mae Pool AU6743 Fixed 1.95%
Freddie Mac Multifamily Structured Pass Through Cert Fixed 1.85%
Fannie Mae Pool FM9679 Fixed 1.81%
United States Treasury Note/Bond Fixed 1.64%
Freddie Mac Pool RA4919 Fixed 1.60%
State Of California Fixed 1.56%
% in Top 10 Holdings 20.67%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Fixed)

As of: 12/31/2023

View Allocation Details

About the Affiliate

About GW&K Investment Management

GW&K Investment Management is a dynamic investment management firm that offers asset allocation, active equity, and fixed income investment solutions to help meet the needs of a diverse client base. GW&K’s founding principles of applying rigorous fundamental research, focusing on quality, and maintaining a long-term view still guide its investment process today.

Learn More About GW&K Investment Management's Approach

FOUNDED

1974

AMG AFFILIATE SINCE

2008

HEADQUARTERS

Boston, MA

Portfolio Managers

Stephen J. Repoff, CFA

PRINCIPAL, PORTFOLIO MANAGER

Read full bio

Investment Approach

Investment Approach

GW&K Enhanced Core Bond ESG Fund

GW&K believes that a multi-sector approach takes advantage of the relative valuations among distinct bond sectors and provides greater opportunities to generate income and capital appreciation, while helping to manage risk in changing economic environments. The Fund invests in a diversified portfolio of fixed income securities. When deciding which securities to buy or sell, typically, GW&K:

  • Incorporates ESG factors among many other fundamental, technical and valuation factors
  • Seeks companies that maintain sustainable competitive advantages and expect to benefit from emerging cyclical or secular drivers
  • Seeks to identify companies that are undervalued due to temporary or discrete events
  • Identifies companies that it believes are leaders in effectively addressing exposure to ESG risks through robust business practices, policies and programs or companies that have more limited exposure to ESG risks.
  • Uses top-down research that focuses on managing: duration, yield curve, credit quality, volatility and liquidity
  • Uses bottom-up research that focuses on: fundamental analysis, valuation analysis and technical analysis

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