Fund Overview

Share Class

I

NAV | as of 10/09/2024

$11.45
-$0.01 (-0.09%)

Morningstar | Style Box

V B G L M S

Growth of $10,000 (Hypothetical)

Since Inception 06/30/2015 to 09/30/2024 = $19,628.69

  • 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 long-term capital appreciation through an intrinsic value-oriented investment approach.

Why Consider

  • Provides investors exposure to a portfolio of high conviction investments with the top 10 holdings representing more than 30% of the Fund’s portfolio
  • Maintains a long-term investment horizon and is agnostic to index constituents and sector weights
  • Employs an absolute value approach which includes a fundamental, bottom-up security selection process focused on identifying securities with a meaningful discount to intrinsic value

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: 1.19%
  • Net Expense Ratio: 1.13%
  • Expense Cap Expiration Date: 05/01/2025

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Dec 29, 2023 $0.235900 $0.235900
Dec 14, 2023 $0.711700 $0.442300 $0.269400
Dec 15, 2022 $0.099100 $0.099100
Dec 15, 2021 $0.498500 $0.149900 $0.010700 $0.337900
Dec 16, 2020 $0.280800 $0.231100 $0.011600 $0.038100
Dec 16, 2019 $0.749700 $0.206500 $0.085500 $0.457700
Dec 27, 2018 $0.960900 $0.114000 $0.173000 $0.673900
Dec 27, 2017 $0.579200 $0.139000 $0.115900 $0.324300
Dec 27, 2016 $0.305200 $0.305200
Dec 28, 2015 $0.355300 $0.225500 $0.129800

Risk & Return Statistics

As of: 09/30/2024

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.
-5.58 -4.09 -
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.
17.10 21.62 -
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.
-0.19 0.25 -
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.
65.01 88.49 -
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.
97.24 105.00 -
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.
0.91 1.10 -
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.
76.16 80.51 -
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.
8.49 9.72 -
View All Characteristics & Statistics

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 06/30/2024

Omni Bridgeway Ltd 7.44%
Legacy Housing Corp 5.50%
Total Energy Services Inc 5.44%
Cie de L'Odet SE 4.65%
Arrow Exploration Corp 4.46%
Italian Wine Brands SpA 4.43%
Fila SpA 4.40%
Texhong International Group Ltd 4.33%
U-Haul Holding Co Non-Voting 4.20%
Macfarlane Group PLC 4.16%
% in Top 10 Holdings 49.00%
View Holding Details Read Important Investment Disclosures

Regional Allocation

As of: 06/30/2024

View Allocation Details

About the Affiliate

About Yacktman Asset Management

Yacktman Asset Management is a boutique investment firm located in Austin, Texas. Since 1992, the firm has navigated multiple market cycles while adhering to a disciplined investment approach led by Stephen Yacktman, Chief Investment Officer. The firm strives to achieve solid risk-adjusted returns over time.

Learn More About Yacktman Asset Management's Approach

FOUNDED

1992

AMG AFFILIATE SINCE

2012

HEADQUARTERS

Austin, TX

Portfolio Managers

Investment Approach

Investment Approach

AMG Yacktman Special Opportunities Fund

The Fund seeks to benefit from a flexible investment mandate resulting in a broad opportunity set for generating new ideas. The unconstrained, global investment universe includes all market capitalizations. The investment process focuses on:

  • Absolute value, investing in undervalued businesses based on intrinsic value rather than relative value versus a benchmark or peer group
  • Bottom-up, fundamental stock research and business analysis
  • Thorough examination of company history over long periods
  • Estimation of normalized earnings and business quality
  • High conviction ideas resulting in a concentrated portfolio
  • Long-term time horizon with an investment goal of achieving attractive risk-adjusted returns over a full business cycle

Additional Fund Highlight

Maintains a long-term investment horizon and is agnostic to index constituents and sector weights.


Podcast: Resilient Investing with Adam Sues of Yacktman

Listen to a recent interview with Adam Sues of Yacktman Asset Management on the “Deconstructing Alpha” podcast where he discusses the history of the firm, Yacktman’s 30th anniversary, and its unique approach to value investing.

Turning Over Rocks in Both Sales and Investing

Yacktman Portfolio Manager Adam Sues discusses timeless lessons from an early sales job that informed and inspired his early interest in value investing.

Read Blog

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