Fund Overview Fund Overview Call Us Advisors: 800.368.4410 Investors: 800.548.4539 Share Class I N I NAV | as of 11/13/2025 $93.42 -$0.73 (-0.78%) Morningstar | Style Box V B G L M S Morningstar Rating Rated against 39 Pacific/Asia ex-Japan Stk funds as of 10/31/2025 View Morningstar Details Morningstar Medalist Rating as of 03/25/2025 Analyst-Driven:100% | Data Coverage:100% Growth of $10,000 (Hypothetical) Since Inception 05/03/2004 to 10/31/2025 = $56,680.87 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. SEE ALL PERFORMANCE The MSCI AC Asia Pacific ex Japan Index replaced the Russell 2000® Growth Index as the Fund’s benchmark on March 19, 2021 because the Investment Manager and Subadviser believe the new benchmark is more representative of the Fund’s current investment strategies. The benchmarks are provided for illustrative purposes only, are unmanaged, reflect reinvestment of income and dividends and do not reflect the impact of advisory fees. The Russell 2000 Growth Index is a widely unmanaged index of market activity based on the aggregate performance of a selected portfolio of publicly trade common stocks and we have included the results of such index to give you a perspective of the historical performance of the U.S. equity market. Read Important Investment Disclosures Objective By focusing on long term real returns, the fund aims to deliver capital appreciation and to outperform the MSCI Asia ex Japan index. Why Consider The Fund may be appropriate for investors looking to gain exposure to the Asia Pacific region Invests in a focused portfolio of Asian companies identified through a combination of top-down thematic drivers and bottom-up fundamental research Real return approach focused on protecting and growing capital Documents Fact Sheet Commentary Summary Prospectus Prospectus SAI Annual Report - Class N Semi-Annual Report - Class N Annual Report - Class I Semi-Annual Report - Class I Annual Financial Statements and Other Information Semi-Annual Financial Statements and Other Information Q1 Holdings Q3 Holdings All Holdings Distributions View All Documents Investment Style AMG Veritas Asia Pacific Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective AMG Veritas Asia Pacific Fund is categorized as Large-Growth. It invests in large-cap companies with high risk. Morningstar Ratings Risk-adjusted returns as of 10/31/2025 Overall Rating (of 39) 3 Years (of 39) 5 Years (of 37) 10 Years (of 27) Category Pacific/Asia ex-Japan Stk Read Important Investment Disclosures Ezra Sun FUND MANAGER AND HEAD OF ASIA Ezra Sun is a Fund Manager of the Veritas Asian strategies and joined the Partnership in 2004. Prior to joining Veritas Asset Management, Ezra was the Director of Investment Management and Investment Leader at Asia Newton Investment Management 1995 to 2004. In charge of Newton’s Asia Pacific fund range including Newton Oriental Fund and Mellon Asia Equity Fund. Education: BA, (Nankai University, China), BA (Nankai University, China), MA Research Student Cambridge University. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns The MSCI AC Asia Pacific ex Japan Index replaced the Russell 2000® Growth Index as the Fund’s benchmark on March 19, 2021 because the Investment Manager and Subadviser believe the new benchmark is more representative of the Fund’s current investment strategies. The benchmarks are provided for illustrative purposes only, are unmanaged, reflect reinvestment of income and dividends and do not reflect the impact of advisory fees. The Russell 2000 Growth Index is a widely unmanaged index of market activity based on the aggregate performance of a selected portfolio of publicly trade common stocks and we have included the results of such index to give you a perspective of the historical performance of the U.S. equity market. Expense Ratios Gross Expense Ratio: 1.13% Net Expense Ratio: 0.93% Expense Cap Expiration Date: 05/01/2026 The Fund’s Investment Manager has contractually agreed, through 05/01/2026, to limit fund operating expenses. The net expense ratio reflects this limitation, while the gross expense ratio does not. The Fund has no up-front sales charges or deferred sales charges. Please refer to the Fund’s Prospectus for additional information on the Fund’s expenses. Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 16, 2024 $0.436000 $0.436000 — — Dec 14, 2023 $0.218800 $0.218800 — — Mar 24, 2021 $69.043600 — $33.229400 $35.814200 Dec 16, 2020 $6.420900 — — $6.420900 Dec 16, 2019 $32.956200 — $5.012700 $27.943500 Dec 26, 2008 $5.838900 — $0.039900 $5.799000 Dec 26, 2007 $19.054500 — $1.230100 $17.824400 Dec 26, 2006 $13.560000 — — $13.560000 Dec 27, 2005 $7.280000 — — $7.280000 From: To: Risk & Return Statistics As of: 10/31/2025 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. -2.79 -0.20 2.19 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. 16.87 17.94 18.74 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. 0.68 0.19 0.38 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. 99.84 108.17 89.52 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. 127.68 113.87 78.61 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. 0.95 0.98 0.92 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. 84.20 81.18 64.15 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. 6.87 7.85 11.34 View All Characteristics & Statistics All Characteristics & Statistics AMG Veritas Asia Pacific Fund (MSEIX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund MSCI AC Asia Pacific ex Japan Index Fund Assets (Mil.$) $101 Number of Holdings 44 Weighted Avg. Market Cap (Mil.$) $290,861 $239,910 Median Market Cap (Mil.$) $46,507 $11,623 Weighted Avg. P/E (1-yr Forward EPS) 23.91 16.56 Weighted Avg. P/E (Trailing EPS) 25.44 17.14 PEG Ratio 1.41 1.88 Weighted Avg. P/B 4.80 2.15 EPS Growth (Trailing 3-yr %) 27.77% 9.67% EPS Growth (Trailing 5-yr %) 25.24% 11.58% Forward EPS Growth (1-yr %) 25.36% 13.92% Forward EPS Growth (Long Term %) 15.33% 9.86% Revenue Growth (Trailing 5-yr %) 17.33% 11.19% Return on Equity 20.87% 17.03% Weighted Avg. Dividend Yield 1.05% 2.26% Debt to Equity 45.49 83.54 Trailing 12-Months Portfolio Turnover 109.65% As of: 09/30/2025 Risk & Return 3 Years 5 Years 10 Years 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. -2.79 -0.20 2.19 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. 16.87 17.94 18.74 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. 0.68 0.19 0.38 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. 99.84 108.17 89.52 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. 127.68 113.87 78.61 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. 0.95 0.98 0.92 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. 84.20 81.18 64.15 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. 6.87 7.85 11.34 Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -0.53 -0.07 0.11 Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. 12.19 3.53 7.76 Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -18.83 -42.16 -42.16 As of: 10/31/2025 Market Cap Fund MSCI AC Asia Pacific ex Japan Index Market Cap ($mm) 0 - 1,000 0.00% 0.00% Market Cap ($mm) 1,000 - 1,500 0.00% 0.03% Market Cap ($mm) 1,500 - 2,500 0.00% 0.02% Market Cap ($mm) 2,500 - 5,000 0.00% 1.62% Market Cap ($mm) 5,000 - 10,000 0.42% 8.73% Market Cap ($mm) 10,000 - 25,000 18.51% 21.80% Market Cap ($mm) 25,000 - 50,000 23.28% 13.07% Market Cap ($mm) 50,000 - 100,000 15.02% 14.10% Market Cap ($mm) 100,000 - 200,000 8.13% 14.13% Market Cap ($mm) 200,000 - 34.63% 26.50% Market Cap – NA 0.00% 0.00% As of: 09/30/2025 Valuation Characteristics Fund MSCI AC Asia Pacific ex Japan Index P/E 0-10 3.27% 11.85% P/E 10-15 1.23% 12.82% P/E 15-20 11.06% 16.67% P/E 20-25 33.34% 25.15% P/E 25-Above 48.54% 31.29% P/E – NA 2.57% 2.22% As of: 09/30/2025 Growth Characteristics Fund MSCI AC Asia Pacific ex Japan Index EPS Growth (Trailing 3-yr %) - Negative 14.86% 32.59% EPS Growth (Trailing 3-yr %) 0 - 5 2.26% 10.04% EPS Growth (Trailing 3-yr %) 5 - 10 3.27% 6.40% EPS Growth (Trailing 3-yr %) 10 - 15 6.96% 5.16% EPS Growth (Trailing 3-yr %) 15 - 20 20.46% 17.26% EPS Growth (Trailing 3-yr %) Above 20 35.39% 22.27% EPS Growth (Trailing 3-yr %) - NA 16.79% 6.27% As of: 09/30/2025 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 09/30/2025 Taiwan Semiconductor Manufacturing Co Ltd 13.40% Tencent Holdings Ltd 7.09% Hanwha Aerospace Co Ltd 6.67% HD Hyundai Electric Co Ltd 6.21% Contemporary Amperex Technology Co Ltd 5.52% Alibaba Group Holding Ltd 5.31% HD Hyundai Heavy Industries Co Ltd 4.65% Delta Electronics Inc 4.55% Samsung Electronics Co Ltd 3.21% Futu Holdings Ltd ADR 2.76% % in Top 10 Holdings 59.36% View Holding Details Holding Details AMG Veritas Asia Pacific Fund (MSEIX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 09/30/2025 Taiwan Semiconductor Manufacturing Co Ltd 13.40% Tencent Holdings Ltd 7.09% Hanwha Aerospace Co Ltd 6.67% HD Hyundai Electric Co Ltd 6.21% Contemporary Amperex Technology Co Ltd 5.52% Alibaba Group Holding Ltd 5.31% HD Hyundai Heavy Industries Co Ltd 4.65% Delta Electronics Inc 4.55% Samsung Electronics Co Ltd 3.21% Futu Holdings Ltd ADR 2.76% % in Top 10 Holdings 59.36% As of: 09/30/2025 Download All Holdings (PDF) As of: 10/31/2025 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund 2330 Taiwan Semiconductor Manufacturing Co Ltd Information Technology S TW TWD 311,500 48.36 $15,064,042 14.09% 267260 HD Hyundai Electric Co Ltd Industrials S KR KRW 11,895 607.55 $7,226,765 6.76% 012450 Hanwha Aerospace Co Ltd Industrials S KR KRW 9,272 685.92 $6,359,893 5.95% 700 Tencent Holdings Ltd Communication Services S CN HKD 71,639 81.23 $5,819,076 5.44% 000660 SK Hynix Inc Information Technology S KR KRW 14,881 389.09 $5,790,100 5.42% 9988 Alibaba Group Holding Ltd Consumer Discretionary S CN HKD 264,150 21.28 $5,620,782 5.26% 329180 HD Hyundai Heavy Industries Co Ltd Industrials S KR KRW 12,774 421.13 $5,379,470 5.03% 005930 Samsung Electronics Co Ltd Information Technology S KR KRW 66,132 75.28 $4,978,167 4.66% 2308 Delta Electronics Inc Information Technology S TW TWD 132,000 32.16 $4,245,631 3.97% 2317 Hon Hai Precision Industry Co Ltd Information Technology S TW TWD 407,000 8.32 $3,385,176 3.17% 300750 Contemporary Amperex Technology Co Ltd [300750] Industrials S CN CNY 59,400 54.68 $3,247,699 3.04% 300274 Sungrow Power Supply Co Ltd Industrials S CN CNY 110,300 26.68 $2,942,862 2.75% 388 Hong Kong Exchanges & Clearing Ltd Financials S HK HKD 50,100 54.50 $2,730,595 2.55% ETERNAL Eternal Ltd Consumer Discretionary S IN INR 684,043 3.57 $2,441,294 2.28% 028260 Samsung C&T Corp Industrials S KR KRW 13,592 158.25 $2,150,951 2.01% 002028 Sieyuan Electric Co Ltd Industrials S CN CNY 101,800 18.46 $1,879,326 1.76% 9999 NetEase Inc Communication Services S CN HKD 62,000 28.06 $1,739,766 1.63% HDB HDFC Bank Ltd ADR Financials S IN USD 47,952 36.22 $1,736,821 1.62% 300308 Zhongji Innolight Co Ltd Information Technology S CN CNY 26,000 66.04 $1,716,953 1.61% 9926 Akeso Inc 144A Health Care S CN HKD 111,000 14.56 $1,616,260 1.51% 2454 MediaTek Inc Information Technology S TW TWD 38,000 42.41 $1,611,559 1.51% 600276 Jiangsu Hengrui Pharmaceuticals Co Ltd Health Care S CN CNY 169,900 9.01 $1,530,590 1.43% ICICIBC ICICI Bank LTD Financials S IN INR 95,486 15.15 $1,446,865 1.35% NEM Newmont Corp [NEM] Materials S US AUD 17,462 81.28 $1,419,267 1.33% 2382 Quanta Computer Inc Information Technology S TW TWD 138,000 9.70 $1,338,356 1.25% DBS DBS Group Holdings Ltd Financials S SG SGD 31,000 41.40 $1,283,479 1.20% 3017 Asia Vital Components Co Ltd Information Technology S TW TWD 25,000 45.78 $1,144,517 1.07% 688256 Cambricon Technologies Corp Ltd Information Technology S CN CNY 5,658 193.27 $1,093,547 1.02% 002371 NAURA Technology Group Co Ltd Information Technology S CN CNY 17,679 57.21 $1,011,496 0.95% 2899 Zijin Mining Group Co Ltd Materials S CN HKD 236,000 4.14 $976,336 0.91% 105560 KB Financial Group Inc Financials S KR KRW 11,363 81.63 $927,602 0.87% 605499 Eastroc Beverage Group Co Ltd Consumer Staples S CN CNY 20,900 39.35 $822,503 0.77% REA REA Group Ltd Communication Services S AU AUD 5,830 139.34 $812,335 0.76% 9992 Pop Mart International Group Ltd 144A Consumer Discretionary S CN HKD 19,500 28.45 $554,680 0.52% LT Larsen & Toubro Ltd Industrials S IN INR 12,192 45.37 $553,206 0.52% BHARTI Bharti Airtel Ltd Communication Services S IN INR 23,033 23.16 $533,356 0.50% 3690 Meituan, Class B 144A Consumer Discretionary S CN HKD 40,300 13.16 $530,459 0.50% 352820 Hybe Co Ltd Communication Services S KR KRW 2,216 238.88 $529,352 0.50% PONY Pony AI Inc ADR Information Technology S CN USD 24,899 18.68 $465,113 0.44% 1211 BYD Co Ltd, Class H Consumer Discretionary S CN HKD 33,900 12.92 $437,988 0.41% PIDI Pidilite Industries Ltd Materials S IN INR 24,702 16.28 $402,026 0.38% 1093 CSPC Pharmaceutical Group Ltd Health Care S CN HKD 406,000 0.98 $399,907 0.37% Cash & Equivalents Cash C US USD - - $1,022,508 0.96% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Delta Electronics Inc 1 3.29% 98.19% Taiwan Semiconductor Manufacturing Co Ltd 2 12.57% 18.36% Tencent Holdings Ltd 3 6.82% 32.99% Alibaba Group Holding Ltd 4 2.87% 62.64% Hanwha Aerospace Co Ltd 5 6.53% 25.57% Contemporary Amperex Technology Co Ltd 6 1.75% 60.70% Akeso Inc 144A 7 3.17% 54.94% Futu Holdings Ltd ADR 8 2.39% 40.72% Samsung Electronics Co Ltd 9 2.46% 35.42% NAURA Technology Group Co Ltd 10 1.39% 39.09% As of: 09/30/2025 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Xiaomi Corp 144A, Class B 20 1.65% -9.12% Telix Pharmaceuticals Limited 19 0.38% -31.34% HDFC Bank Ltd ADR 18 2.19% -10.03% BYD Co Ltd, Class H 17 1.32% -9.24% Trent Limited 16 0.25% -20.43% Nestle India Ltd. 15 0.78% -15.48% MIXUE Group Class H 14 0.47% -24.23% Meituan, Class B 144A 13 0.64% -15.85% ICICI Bank LTD 12 1.21% -9.41% Guming Holdings Limited 11 0.38% -19.39% As of: 09/30/2025 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Read Important Investment Disclosures Read Important Investment Disclosures Regional Allocation As of: 09/30/2025 View Allocation Details Allocation Details AMG Veritas Asia Pacific Fund (MSEIX) Sector Allocation (Equity) Investment Allocation Country Allocation Regional Allocation Top 10 Industries Sector Sort Order Fund MSCI AC Asia Pacific ex Japan Index Information Technology 31.93% 25.05% Industrials 26.10% 7.35% Communication Services 11.83% 9.73% Consumer Discretionary 11.11% 14.12% Financials 8.46% 23.13% Health Care 8.04% 4.33% Materials 1.21% 5.73% Consumer Staples 0.88% 3.20% Cash & Other 0.44% 0.00% Energy 0.00% 2.82% Real Estate 0.00% 2.44% Utilities 0.00% 2.10% As of: 09/30/2025 Investment Allocation 09/30/2025 Stocks 99.56% Bonds 0.00% Cash and Other 0.44% As of: 09/30/2025 Country Fund MSCI AC Asia Pacific ex Japan Index China 38.87% 30.44% South Korea 25.72% 10.72% Taiwan 21.89% 18.98% India 5.26% 14.87% Hong Kong 4.74% 4.07% Australia 1.87% 13.42% Singapore 1.22% 3.52% % in Top 7 Countries 99.57% 96.02% As of: 09/30/2025 Region Fund MSCI AC Asia Pacific ex Japan Index Developed 7.82% 21.37% Europe & Middle East 0.00% 0.00% North America 0.00% 0.00% Pacific 7.82% 21.37% Emerging 91.74% 78.63% Asia 91.74% 78.63% Latin America 0.00% 0.00% Europe & Middle East 0.00% 0.00% Africa 0.00% 0.00% Frontier 0.00% 0.00% Africa 0.00% 0.00% Asia 0.00% 0.00% Europe 0.00% 0.00% Latin America 0.00% 0.00% Middle East 0.00% 0.00% Cash & Other 0.44% 0.00% As of: 09/30/2025 Industry Fund MSCI AC Asia Pacific ex Japan Index Semiconductors & Semiconductor Equipment 19.24% 14.04% Electrical Equipment 13.46% 1.30% Interactive Media & Services 7.97% 6.95% Aerospace & Defense 6.67% 0.82% Electronic Equipment, Instruments & Components 6.63% 2.90% Broadline Retail 5.31% 6.86% Technology Hardware, Storage & Peripherals 5.13% 5.87% Machinery 4.65% 1.21% Banks 4.52% 15.61% Capital Markets 3.94% 2.25% % in Top 10 Industries 77.52% 57.81% As of: 09/30/2025 Read Important Investment Disclosures About the Affiliate About Veritas Asset Management Founded in 2003, Veritas Asset Management is a leading Global and Asian equities manager. The firm manages both funds and segregated portfolios for institutional and retail investors globally. The focus is on identifying good quality, sustainable businesses and remaining patient to buy into these companies at the right entry point in order to achieve long-term real returns. Learn More About Veritas Asset Management's Approach FOUNDED 2003 AMG AFFILIATE SINCE 2014 HEADQUARTERS London, England Portfolio Manager Ezra Sun FUND MANAGER AND HEAD OF ASIA Read full bio Investment Approach Investment Approach AMG Veritas Asia Pacific Fund Veritas combines top-down analysis, focused on identifying long-term themes and trends, with bottom-up fundamental company research that seeks to identify companies within those identified themes and trends that it believes have sound business models, strong management and disciplined financial controls. Veritas seeks to focus on quality companies in sectors that they believe show long term structural growth potential with emphasis on industry leaders or emerging leaders with durable competitiveness. Related products Other Products From Veritas Asset Management MMCFX AMG Veritas China Fund View Fund Details MFQAX AMG Veritas Global Focus Fund View Fund Details BLUEX AMG Veritas Global Real Return Fund View Fund Details Stay up-to-date Sign up to receive our latest views and thinking, in addition to other news and product-related information. CHOOSE SUBSCRIPTIONS